Q1FY23 Quarterly Result Announced for Puravankara Ltd.
Realty company Puravankara announced Q1FY23 results:
- Consolidated Revenues stood at Rs 297 crores
- EBITDA stood at Rs 139 crores with margins of 47%
- Profit before Tax (PBT) stood at Rs 48 crores
- Profit After Tax (PAT) stood at Rs 35 crores
Commenting on the company's performance, Ashish R Puravankara, Managing Director, Puravankara limited, said, "We believe India's real estate will continue to witness sustained growth momentum, which will be fueled by favorable market forces, government measures, and positive customer sentiment. We are delighted that the new financial year has begun on a positive note, with the Company achieving its highest ever sales in the first quarter of any financial year. And this is remarkable as it has been achieved in an inflationary environment and without any new launches. Despite the challenging environment, we see positive customer sentiments, improved affordability, and heightened aspiration to have good quality homes. We expect to ride on this wave of robust sales, strong demand in the sector, and a stable economy. We are upbeat about our new launches, and we will continue to focus on scaling our operations while maintaining a healthy balance sheet. As a customer-centric entity, our primary focus will be to offer our customers high-quality products and a seamless homebuying experience. Our budget and expense control measures have put us in a solid position to optimize buoyant sentiments. We remain confident in creating sustained value for all our shareholders by delivering growth and margin expansion through optimal capital utilization."