Meanwhile, the BSE Sensex was down 65.46 points or 0.35% at 18,836.95.

On BSE, 2.62 lakh shares were traded in the counter as against average daily volume of 22,414 shares in the past one quarter.

The stock hit a high of Rs 87.75 and a low of Rs 84 so far during the day. The stock had hit a 52-week high of Rs 89.80 on Wednesday, 7 November 2012. The stock had hit a 52-week low of Rs 54.15 on 30 December 2011.

The stock had outperformed the market over the past one month till 7 November 2012, surging 17.5% compared with the Sensex's 0.19% fall. The scrip had also outperformed the market in past one quarter, jumping 24.09% as against Sensex's 7.39% surge.

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

Shares of Puravankara Projects had surged 13.67% to settle at Rs 87.30 on Wednesday, 7 November 2012, after the company during trading hours on Wednesday, 7 November 2012, reported strong Q2 results.

Puravankara Projects' consolidated net profit jumped 89.1% to Rs 50.19 crore on 37.8% growth in net sales to Rs 271.01 crore in Q2 September 2012 over Q2 September 2011.

Puravankara Projects' area sold increased 16% to 0.67 million square feet (sq. ft) in Q2 September 2012 over Q2 September 2011. Sales value rose 18% to Rs 234.60 crore.

Puravankara Projects said that contribution from ready-to-move-in inventory from Purva Venezia, Purva Highlands and other projects in the Puravankara portfolio has been very good and added that the company expects the momentum to continue. Provident Welworth City and Provident Harmony are doing extremely well as evidenced in absorption levels and sales realization figures, Puravankara said. The company added that it will be ramping up sales velocity as these two projects draw to a completion.

Puravankara launched an ultra-luxury project, Purva Whitehall, at Sarjapura in Bengaluru in October 2012 and has sold 35% of the total inventory with sizes ranging between 1,900-2,500 sq. ft. The company expects the healthy absorption rate to continue in the coming quarters. Other launches from both Puravankara and Provident are in the offing, upon final approval from the authorities, Puravankara said in a statement.

Puravankara Projects is one of the leading real estate companies in India, with significant presence in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, and overseas in the United Arab Emirates, Kingdom of Saudi Arabia, and Sri Lanka.