As compared with Q1 FY24, the company's sale value and sale volume both rose by 42% and 48%, respectively while realization fell by 4%.

The realty firm said that it has achieved highest ever sale value of Rs 1,600 crore in any quarter and the second quarter of any financial year since inception.

Customer collections from the real estate business increased to Rs 879 crore in Q2 FY24 as compared to Rs 518 crore in same quarter last year, a jump of 70% YoY.

Average price realization increased by 7% to Rs 7,947 per sft during the quarter from 7,419 per sft in Q2 FY23.

The relator's sales value soared 109% to Rs 2,725 crore in H1 FY24 as against Rs 1,304 crore in H1 FY23.

Ashish Puravankara, managing director of Puravankara, said, “For the second quarter of FY24 pre-sales have increased more than twofold, showing a remarkable growth of 102% compared to the same period last year.

By strategically identifying and integrating businesses that complement our strengths and objectives, we aim to diversify our portfolio, enter new markets, and capitalise on emerging trends. We are confident to maintain the sturdy growth in pre-sales driven by new launches as well as sustenance projects.”

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 reported consolidated net loss of Rs 17.87 crore in Q1 FY24 as compared with net loss of Rs 34.43 crore in Q1 FY23. However, net sales jumped 50.5% year on year to Rs 323.26 crore in Q1 FY24.

The counter hit a 52-week high of Rs 141.05 in today's intraday session on the BSE.