The company announced the 3rd quarter results during trading hours today, 10 February 2012.

Meanwhile, the BSE Sensex was down 75.34 points, or 0.42% to 17,755.41.

On BSE, 1.06 lakh shares were traded in the counter as against average daily volume of 10,827 shares in the past one quarter.

The stock hit a high of Rs 80.55 and a low of Rs 74.10 so far during the day. The stock had hit a 52-week low of Rs 54.15 on 30 December 2011. The stock had hit a 52-week high of Rs 118.80 on 29 March 2011.

The stock had outperformed the market over the past one month till 9 February 2012, gaining 34.75% compared with the Sensex's 12.75% rise. The scrip had also outperformed the market in past one quarter, rising 5.4% as against Sensex's 2.7% gain.

The mid-cap real estate developer has equity capital of Rs 106.74 crore. Face value per share is Rs 5.

The Puravankara Projects stock had witnessed a pre-result rally. The stock galloped 26.64% in four trading sessions to settle at Rs 81.05 on Thursday, 9 February 2012, from a recent low of Rs 64 on 3 February 2012.

On a consolidated basis, Puravankara Projects' net profit rose 11.65% to Rs 32 crore on 11.89% growth in revenue to Rs 194.09 crore in Q3 December 2011 over Q3 December 2010. The company said sales realization grew 37% on year-on-year basis. The company announced the 3rd quarter results during trading hours today, 10 February 2012.

Net profit jumped 20.57% to Rs 32 crore on 1.96% fall in revenue to Rs 194.09 crore in Q3 December 2011 over Q2 September 2011. The company's EBITDA margin saw a 300 basis point jump to 26.4% in Q3 December 2011 from 23.4% in Q2 September 2011, the company said.

Inline with company's launch plan, Provident Housing has successfully launched its new project "Provident Harmony" in Bengaluru on 7 January 2012, and it has met with an excellent response from the market, Puravankara Projects said in a statement. The encouraging response to this launch will accelerate the company's planned new launches across various cities, the company added.

The luxury housing segment continued to grow impressively in the key southern markets of Bengaluru, Chennai and Kochi despite a high interest rate environment, the company said. With the easing of interest rates, the momentum of new launches will continue across the various micro-markets in Chennai and Bengaluru over the next three quarters, the company said in a statement.

Commenting on Q3 results, Mr Ravi Puravankara, Chairman and Managing Director, Puravankara Projects said, "The company performed well and is now well-positioned to absorb the growing demand through its new launches both under Puravankara and Provident brands. The easing of interest rates will add to this momentum for the group".

Puravankara Projects is a real estate developer. The company focuses on residential and commercial properties, such as apartment complexes, villas, and townhouses.