Puravankara Ltd (PURVA)

Puravankara's Subsidiary Secures Investment for New Projects - 25 Apr, 2024

Provident Housing Limited, a subsidiary of Puravankara Group, has raised Rs 1,150 crore in investment from HDFC Capital to develop an additional 6.2 million square feet of new residential projects with a combined gross development value of Rs 17,100 crore.

Puravankara Selected as Preferred Developer for Pali Hill Housing Society Redevelopment - 24 Apr, 2024

Puravankara Ltd. has been unanimously selected as the preferred developer for redeveloping a residential housing society in Mumbai's Pali Hill locality with an estimated development potential of 4.10 lakh sq ft carpet area and a potential Gross Development Value (GDV) of over Rs 2,000 crore. The company is also in advanced discussions for the redevelopment of three to four other prestigious housing societies in Mumbai. Puravankara reported a net profit of Rs 78 crore in Q3 FY24 and sales grew 56% to Rs 1,241 crore due to strong sales volume.

Puravankara to Redevelop Housing Society in Mumbai's Pali Hill - 23 Apr, 2024

Real estate developer Puravankara is set to redevelop a housing society in Mumbai's Pali Hill with a potential Gross Development Value (GDV) of over Rs 2,000 crore. The company is also in advanced talks for three to four other Mumbai housing societies.

Puravankara Shares Hit 16-Year High on Record-Breaking Performance - 12 Apr, 2024

Shares of Puravankara Ltd. surged to a 16-year high after the company achieved its best-ever quarterly performance and reported its highest-ever annual customer collections from the real estate segment in FY24. The stock gained over 33% this week, with Yes Securities initiating coverage with a buy rating and target price of ₹452.

Puravankara Acquires Majority Stake in Subsidiary, Reports Strong Q3 Results - 09 Apr, 2024

Puravankara Ltd has acquired a 51% stake in its subsidiary PPL Khondapur Developers and reported a net profit of Rs 77.92 crore in Q3 FY24, up from Rs 22.53 crore in Q3 FY23. The company's revenue from operations also increased by 46.18% to Rs 573.70 crore in the same period. As a result, Puravankara's stock price surged by 19.51% to hit a 52-week high of Rs 295.55.

Yes Securities Initiates Buy Call on Puravankara - 08 Apr, 2024

Brokerage house Yes Securities has initiated a buy call on Puravankara Ltd (PURVA) with a target price of ₹452, indicating an upside of over 86%. Meanwhile, Puravankara's high P/E ratio may be due to investors' belief that its strong earnings growth will outperform the broader market.

Puravankara Reports Highest-Ever Annual Sales - 05 Apr, 2024

Real estate developer Puravankara Ltd. achieved its highest-ever annual sales value of Rs 5,914 crore in FY24, up by 90% YoY, with quarterly sales value of Rs 1,947 crore for Q4FY24, up by 93% YoY. The company also achieved the highest-ever annual customer collections from the real estate business, which increased to Rs 3,609 crores in FY24 compared to Rs 2,258 crores in FY23, up by 60% YoY.

KRERA Orders Provident Housing to Pay Delayed Interest on Home Loan EMI - 27 Mar, 2024

Karnataka Real Estate Regulatory Authority (KRERA) has ordered Puravankara Ltd's subsidiary, Provident Housing, to pay delayed interest on the home loan EMI component paid by a homebuyer after failing to handover the Provident Noera apartment six years since its launch.