Puravankara Q1 sales bookings jump over 2-fold to record Rs 1,126 cr

Realty firm Puravankara Ltd on Thursday said its sales bookings jumped over two-fold to Rs 1,126 crore in the first quarter of this fiscal on better housing demand and higher price realisation.

In a regulatory filing, the company shared its operational performance for the April-June quarter of 2023-24. 

The company's sales bookings in volume terms rose 97 per cent to 1.36 million square feet in the first quarter of this fiscal from 0.69 million square feet in the year-ago period.

In value terms, the sales bookings jumped to Rs 1,126 crore from Rs 513 crore. The average price realisation went up 11 per cent to Rs 8,277 per square feet from Rs 7,436 per square feet during the period under review.

"Achieved highest ever sale value of Rs 1,126 crore in any quarter and the first quarter of any financial year since inception," Bengaluru-based Puravankara said.

It attributed the growth in sales to factors like need for larger houses, rising incomes, job creation, and stable home loan rates.