Puravankara Q3 net profit doubles to Rs 64 cr
Realty firm Puravankara Projects today reported doubling of consolidated net profit at Rs 64 crore for the quarter ended December, 2012.
The Bangalore-based company had posted Rs 32 crore net profit in the year-ago period.
"Puravankara recorded a 60 per cent increase in consolidated revenues, posting Rs 311 crore in the quarter ended December 31, 2012, compared to Rs 194 crore in the quarter-ended December 31, 2011," the company said in a statement.
For the first nine months of the 2012-13 fiscal, the company has recorded 43 per cent increase in consolidated revenue to Rs 832 crore, as against Rs 583 crore in the year-ago period.
The consolidated net profit increased by 84 per cent to Rs 165 crore during the April-December period, as against Rs 90 crore in the nine months of the previous fiscal.
The company's Chairman and Managing Director Ravi Puravankara said: "Our stellar performance this quarter is a continuation of the momentum to a new growth trajectory with significant traction both in ready-to-move-in inventory and new launch sales.
"Our new launch pipeline in both Puravankara and Provident will keep this momentum going."
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