Puravankara posts net profit of Rs 155 crore in Q1FY22

By: |
August 14, 2021 4:00 AM

The real estate developer’s consolidated revenue rose multi-fold to Rs 542 crore in Q1 FY22 against Rs 191 crore in Q1 FY20. Ebitda stood at Rs 386 crore in Q1 FY22 with margins of 71%.

Due to the adverse impact of the second wave of Covid-19 infections and the resultant disruptions, Puravankara’s sales value was lower at Rs 314 crore in Q1 FY22 compared to Rs 398 crore in the quarter ended June 30, 2020.Due to the adverse impact of the second wave of Covid-19 infections and the resultant disruptions, Puravankara’s sales value was lower at Rs 314 crore in Q1 FY22 compared to Rs 398 crore in the quarter ended June 30, 2020.

Bangalore-based Puravankara on Friday reported a consolidated net profit of Rs 155 crore for the April-June quarter against a net loss of Rs 17 crore in the year-ago period aided by resilient sales and better price realisation.

The real estate developer’s consolidated revenue rose multi-fold to Rs 542 crore in Q1 FY22 against Rs 191 crore in Q1 FY20. Ebitda stood at Rs 386 crore in Q1 FY22 with margins of 71%.

Due to the adverse impact of the second wave of Covid-19 infections and the resultant disruptions, Puravankara’s sales value was lower at Rs 314 crore in Q1 FY22 compared to Rs 398 crore in the quarter ended June 30, 2020.

The company’s area sold during the April-June quarter also stood lower at 0.42 million sq ft (MSF) against 0.69 MSF in the year-ago period. The sales realisation grew 30% year-on-year to Rs 7,473 per sq ft in Q1 FY22.

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