Bengaluru-based property developer Puravankara posted a 89% jump in sales for 9MFY24 at Rs 3967 crore, as against Rs 2100 crore in 9MFY24. The company said it recorded the highest-ever customer collection of Rs 2,515 crore, compared to Rs 1,597 crore in 9MFY23, indicating a jump of 57 % y-o-y.
Ashish Puravankara, managing director, Puravankara, said, “The successful launch of two new projects and a promising pipeline of upcoming launches shows our confidence in sustaining this positive momentum. Our focus on efficiency and prompt execution has contributed to these impressive pre-sales and collection numbers.”
“The current positive economic conditions have generated an unprecedented demand for quality residential real estate and the company is clearly observing it in the sustenance sales of our ongoing projects. We are optimistic about maintaining this sales momentum,” he said.
On Tuesday, another Bengaluru-based company, Prestige Estates, reported more than two-fold jump in sales bookings to Rs 5,326.1 crore for the third quarter of the financial year.
In April-December FY24, Prestige Estates’ sale bookings rose 81 %annually to Rs 16,333.4 crore. The company sold 16.13 million square feet area, with an average realisation of Rs 10,143 per square feet (for apartments/ villas).
