Volumes rose by 2% YoY to 1.21 million square feet (msft) while realization improved by 19% YoY to Rs 8,321 per square feet in Q4 FY23.

As compared with Q3 FY23, the company's sale value, sale volume and realization are higher by 27%, 18% and 7%, respectively.

Puravankara said that it had achieved the highest ever sale value of Rs 3,107 crore for FY23, the highest in any financial year since inception. The sale value is higher by 29% as compared to Rs 2,407 crore recorded in FY22.

Customer collections from the real estate business increased to Rs 2,258 crore in FY23 from Rs 1,440 crore in FY22, up 57% YoY.

Average price realization improved by by 14% to Rs 7,768 per sft during FY23 from 6,838 per sft in FY22.

Ashish Puravankara, MD of the company, said, "The company has consistently experienced growth during FY23, indicating our sustained efforts towards gaining market share. We expect our pre-sales growth momentum to continue, driven by a healthy pipeline of new launches of 14 million sqft in coming quarters.”

The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brands—Purva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune.

The company's consolidated net profit zoomed to Rs 22.53 crore in the quarter ended December 2022 from Rs 1.24 crore during the previous quarter ended December 2021. Sales rose 77.31% to Rs 392.45 crore in Q3 FY23 from Rs 221.34 crore in Q3 FY22.