Puravankara posts net loss of Rs 11.22 crore in Q2 FY24, Real Estate News, ET RealEstate
NEW DELHI: Puravankara has reported net consolidated loss after tax of Rs 11.22 crore during the quarter ended September 30, 2023. It had registered loss of Rs 17.22 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 381.57 crore, a growth of 50.91 per cent from Rs 252.85 crore it recorded in the similar quarter last year.
During the six months ended September 30, 2023, the following wholly-owned subsidiaries of the company have issued debentures of Rs 100,000 each, aggregating to Rs.77 crore by way of private placement:
(i) Varishtha Property Developers: 1,100 unsecured, rated, redeemable, non-convertible debentures aggregating to Rs. 11 crores and 1,400 unsecured, rated, redeemable, non-convertible debentures aggregating to Rs. 14 crores.
(ii) Purva Sapphire Land: 5,200 unsecured, rated, redeemable, non-convertible debentures aggregating to Rs. 52 crores.
During the current quarter, the company recorded sales value of Rs 1,600 crore, an increase of 102% year-on-year, sales volume increased by 89% year-on-year and stood at 2.01 million sq ft and collections were Rs 879 crore, up 70% year-on-year.
As on September 30, 2023, its net worth stood at Rs 1,965 crore, net debt was Rs 1,992 crore, cost of deb was 11.61% and net debt-equity ratio was 1.01.