Puravankara Q4 Results Review- Strong Presales, Business Development To Drive Valuations Ahead: Yes Securities

Yes Securities Report

Puravankara Ltd. closed the year with best ever annual presales of Rs 59.14 billion (84% YoY) guided by the launch of 9 msf projects in FY24. Company collected Rs 39.48 billion (47.3% YoY) in FY24. Purvankara acquired two marquee projects in Mumbai under redevelopment space.

Pali Hill and Lokhandwala with gross development value of Rs 21.5 billion and Rs 15 billion respectively. Additionally, Provident has secured Rs 11.5 billion funding from HDFC Capital to develop a platform which will acquire projects with a total GDV of Rs 171 billion.

Company plans to launch 7.28 msf projects with the GDV of Rs 74.43 billion and which are expected to generate surplus of Rs 26.96 billion from the existing pipeline additionally, the company intends to add some new projects to it.

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