Ashish R. Puravankara, Managing Director, Puravankara
Limited
Puravankara Limited (NSE: PURVA | BSE: 532891), one of India’s most
trusted and admired real estate developers, reported customer collections of Rs
3,937 crores in FY25, reflecting a 9% year-on-year growth compared to Rs 3,609
crores in FY24. Collections for Q4FY25 stood at Rs 946 crores.
Pre-sales for Q4FY25 stood at Rs 1,282 crores, bringing the total sales
value for FY25 to Rs 5,006 crores. Sustenance sales at Rs 4,223 crores, grew by
22% y-o-y, while the average price realisation increased by 10% during the
financial year.
Commenting on the company's performance, Ashish Puravankara,
Managing Director, Puravankara Ltd., said, “We are pleased to report
a 9% YoY growth in collections, reaching Rs 3,937 crore in FY25, a testament to
our operational efficiency. Our pre-sales for the year stood at Rs 5,006 crores
in FY25. We have achieved the highest-ever sustenance sales this year, growing
by 22% y-o-y, driven by strong absorption in ongoing projects. Puravankara
Group continues to command a price premium and has achieved 10% increase in
average price realisation along with increased absorption during the year.
During FY25, Puravankara Group invested over Rs 1,300 crores to secure
land with total area of approx. 8 msft with estimated potential GDV of over Rs
13,000 crores. This has been the highest ever annual investment in land
acquisition demonstrating our ability to grow sustainably.
We successfully launched our much-awaited project, ‘Purva Panorama’ in
Thane, Mumbai, with a total development potential of 3 million sq. ft. with an
estimated GDV of Rs 4,000 crores, commencing with Tower C, which covers 0.52
million sq. ft.
In FY26, we have a strong launch pipeline of over 13 million sq. ft.,
comprising 9 million sq. ft. of new projects and 4 million sq. ft. of new phase
launches. Projects with total area of 5 million sq.ft are at advanced stages of
securing approvals and expected to go live within the next two quarters.”
Key Highlights
- Achieved customer
collection of Rs 3,937 crores in FY25, up by 9% compared to Rs 3,609
crores in FY24.
- Achieved quarterly
customer collections from the real estate business of Rs 946 crores in
Q4FY25.
- Achieved quarterly
sales value of Rs 1,282 crores for Q4FY25; and Rs 5,006 crores for FY25.
- Average price
realisation in FY25 increased to Rs 8,830/sft, up by 10% from Rs 8,035/sft
in FY24.
- Average price
realisation in Q4FY25 increased to Rs 9,031 /sft, up by 9% from Rs
8,285/sft in Q4FY24.
- During FY25, the
Group invested over Rs 1,300 crores to secure land with total area of
approx. 8 msft with estimated potential GDV of over Rs 13,000 crores.
- Against the
planned 13 million sq. ft. of launches in FY25, we opened approximately 3
million sq. ft. for sale during the year, approval delays have temporarily
deferred several launches. However, we are now in the advanced stages of
securing approvals and expect to launch majority of the deferred projects
over the next two quarters.
- We are expecting
Occupancy Certificates (OC) for several key projects in the upcoming
financial year, with total area of 3.95 million sf.ft with a combined GDV
of over Rs 3,200 crores.
Outlook
India's economic landscape in Q4FY25 is marked by cautious optimism.
Moody's Analytics has revised the 2025 GDP growth forecast downward to 6.1%,
attributing the change to potential impacts from recent U.S. tariffs on Indian
exports. In response, the Reserve Bank of India (RBI) has adopted an
accommodative stance, reducing the repo rate by 25 basis points to 6.00% in
April 2025, with indications of further cuts to stimulate domestic demand.
The real estate sector remains resilient, with residential sales
reaching a 12-year high of 3,50,612 units in CY24, a 6.5% YoY increase, driven
largely by premium housing homes priced above Rs 1 crore accounted for 46% of
H2 sales (Knight Frank, Jan 2025). Meanwhile, office space absorption crossed
70 million sq. ft. in CY24 across six major cities (report by Savills India),
led by Global Capability Centres (GCCs) and an uptick in hiring. Commercial
real estate, particularly in Bengaluru, continues to thrive, evidenced by
declining vacancy rates and rising rents. Puravankara is strategically
positioned to capitalize on these trends, planning to launch over 13 msft in
FY26, aiming to strengthen its market presence amid a consolidating industry landscape.