Home Business Puravankara’s Q1 gross sales booking down 19% at Rs 398 crore as a consequence of lockdown

Puravankara’s Q1 gross sales booking down 19% at Rs 398 crore as a consequence of lockdown

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Last Up as a lot as now : Sep 13, 2020 02: 01 PM IST | Source: PTI Primarily based completely mostly on an traders’ presentation, Puravankara sold 536 properties in the first quarter of 2020-21 monetary 365 days as against 638 devices in the 365 days-in the past duration.

Realty firm Puravankara’s gross sales booking fell 19 p.c at some level of April-June to Rs 398 crore as a consequence of the nationwide lockdown to manipulate the COVID-19 pandemic.Primarily based completely mostly on an traders’ presentation, Puravankara sold 536 properties in the first quarter of 2020-21 monetary 365 days as against 638 devices in the 365 days-in the past duration.Sales booking in imprint phrases dropped to Rs 398 crore from Rs 493 crore, while in volume phrases it dipped to 0.69 million sq toes in the duration below review from 0.79 million sq toes.The gross sales realisation lowered to Rs 5,767 per sq toes in April-June of this monetary 365 days from Rs 6,239 per sq toes in the identical quarter of final fiscal 365 days.”Owing to the nationwide lockdown, gross sales in present projects were impacted. Then again, enquiries are the truth is returning to pre COVID-19 ranges,” the presentation acknowledged.Puravankara has plans to delivery eight  projects, including unusual phases in present projects, comprising 9.43 million sq toes of developable predicament and 5.49 million sq toes of saleable predicament.It has executed 40.92 million sq toes predicament as a lot as now and is establishing 23.77 million sq toes predicament across diversified projects.The corporate’s debt reduced marginally to Rs 2,521 crore as on June 30 from Rs 2,536 crore at the tip of final fiscal 365 days, the presentation acknowledged.Last week, Puravankara reported a salvage loss of Rs 16.93 crore for the quarter ended June. Its salvage income stood at Rs 44 crore in the 365 days- in the past duration.Complete profits declined to Rs 190.53 crore in the first quarter of this fiscal from Rs 645.55 crore in the corresponding duration of the outdated 365 days.Housing gross sales are liable to be impacted this 365 days as a consequence of coronavirus, even as consultants imagine demand will enhance at some level of the festive season.Already, the gross sales appreciate declined 52 p.c to 88,593 devices across eight cities at some level of January-June duration of 2020, in step with files from housing brokerage firm PropTiger.Property advisor Anarock has reported 61 p.c tumble in housing gross sales across six main cities at 55,270 devices at some level of the first half of of this 365 days.Housing gross sales in eight main cities of the nation declined 54 p.c at some level of January-June to 59,538 devices, in step with property
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