Puravankara Q2 net up 89%
The company had reported a net profit of Rs 26.54 crore in the year-ago period.
Total revenues for the quarter grew by 37.81 per cent to Rs 273.02 crore from Rs 198.10 crore in the corresponding period last fiscal, the company said in a statement.
"Despite macro-economic challenges of high inflation, rising fiscal deficit and sluggish GDP growth, we experienced strong sales momentum in both new and completed projects this quarter," company's Chairman and Managing Director Ravi
During the quarter, the company sold 6.7 lakh sq ft as against 5.8 lakh sq ft in the corresponding period last year.
"We expect the healthy absorption rate to continue in the coming quarters," he said, adding, "We expect the industry to perform well in the coming quarters due to the recent policy reforms announced by the government, such as CRR reductions and liberalisation of FDI norms."
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