Realty firm Puravankara Ltd on Saturday reported a 39 percent fall in its consolidated net profit at Rs 21.14 crore for the quarter ended September mainly due to land sale in the year-ago period.
Realty firm Puravankara Ltd on Saturday reported a 39 percent fall in its consolidated net profit at Rs 21.14 crore for the quarter ended September mainly due to land sale in the year-ago period.
Its net profit stood at Rs 34.62 crore in the same quarter of the previous fiscal.
Total income declined to Rs 371.53 crore in the second quarter of 2017-18 from Rs 392.57 crore in the corresponding period of the previous year.
"Our revenues are up 53 percent, net of land sales of Rs 151 crore in the year-ago quarter. Sales bookings in terms of both volume and value, as well as collections, are significantly higher than the same quarter last year," Puravankara Ltd's MD Ashish R Puravankara told PTI.
With RERA and GST stabilising, he said the company has several exciting new launches in the pipeline in the near term across its markets.
"74 percent YoY growth in the volume of sales bookings in sq ft during Q2 FY18 – total booking value stood at Rs 438 crores, up 65 percentind. Q2, FY18 total booking volume 803,966 sq ft as compared to total booking volume of 4,60,000 sq ft in Q2 FY17," a company statement said.
