Puravankara Ltd clocks net profit of Rs 155 cr for Q1FY22
Noida: Bengaluru based Puravankara Ltd clocked a net profit of Rs 155 crore for the first quarter of the current fiscal as compared to a net loss of Rs 17 crore in the same quarter of the previous year.
The company also announced the appointment of Abhishek Nirankar Kapoor as new CEO and while Ashish Ravi Puravankara demitted the office of CEO with immediate effect. Ashish will continue to be the MD.
The revenues of the company jumped three-fold at Rs 542 crore in the first quarter of the current fiscal as compared to the same quarter of the previous year, the realty firm said in a statement.
The real estate developer registered sales value of Rs 314 crore just from ready to move and under construction projects. “We expect the positive customer sentiment to sustain in the future as well. With a net debt reduction of Rs 451 crore and operating inflows of Rs 817 crore, we are well capitalised to optimise the buoyant sentiment," said Ashish Puravankara.
The realty firm’s sales bookings in the latest quarter went down to Rs 314 crore as compared to Rs 398 crore in the same quarter of the previous fiscal.