For Immediate Press Release
PURAVANKARA'S QUARTERLY AND HALF-YEARLY REVENUES UP BY 28% & 44%
Bengaluru, 11 November 2011
Puravankara Projects Ltd., has recorded an increase of 28% in
its quarterly revenues. Revenue for the quarter ended Sept
2011 stands at INR 1,980 Million as compared to INR 1,524
Million for the corresponding quarter ended September
2010.
Consolidated revenues for the half year ended 30 September
2011 increased by 44% and stood at
INR 3,884 Million as compared to INR 2,705 million.
Net profits stood at INR 265 Million for the quarter ended 30
September 2011
New Launches
Company is ready to launch its luxury housing project in
Bengaluru by end of November 2011 totalling 1.08 million
square feet under Puravankara brand and also 0.65 million
square feet under Provident brand. In addition to the above,
Company has readied itself for new launches both under
Puravankara and Provident brands totalling 19.76 Million
square feet within the next two quarters.
Sustained growth
The Company continues to rededicate itself to create value
and trust for customers and thereby derive competitive
strength from economic troughs. The focus will be on striving
to push the frontiers and set the benchmark for the industry
by continuing to implement its strategy of capturing the
latent demand through renewed Sales and Marketing efforts and
Customer Retention and Satisfaction. The Company is well
poised to achieve its objectives through its new launches
planned in the coming months by ensuring strict control on
the existing inventory and careful allocation to priority
projects that will complement this strategy. The company also
intends to intensify the focus on pre-sales market assessment
through faster execution and scaling up by addressing all
real estate needs of existing customers and widening the
target customer segment. Puravankara will continue the focus
on markets with large visible supply-demand gap to mitigate
risks of absorption.