Puravankara sales bookings in FY22 rise 9% to record Rs 2,406 crore on higher demand of residential properties

Realty firm Puravankara Ltd on Monday said its sales bookings rose 9 per cent in the last fiscal year to a record Rs 2,406 crore on higher demand of residential properties.

Its sales bookings stood at Rs 2,202 crore in the 2020-21 financial year.

In terms of volume, the sales bookings of Puravankara Ltd increased to 3.52 million square feet in 2021-22 fiscal, from 3.43 million square feet in the 2020-21 financial year.

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The average sales realisation increased to Rs 6,834 per square feet, from Rs 6,420 per square feet during the period under review.

"Total sales volume of 3.52 million square feet with a total sales value of Rs 2,406 crore; clocking highest ever sales value for the company since inception," Puravankara said in a regulatory filing.

The company noted that residential real estate has been on a steady and resilient growth trajectory, especially in the last quarter.

"Despite the shadow of uncertainty cast by the third wave, the segment continued to witness a surge in demand and sales," it added.

The company is optimistic that the rising aspiration for homeownership and favourable market forces will help sustain the sector's growth momentum.

Puravankara also said that its wholly-owned subsidiary has received approval from market regulator SEBI for an Rs 750 crore, category II fund, under the Alternative Investment Fund (AIF) guidelines, 2012.

Puravankara Ltd has completed over 43 million square feet and 75 projects. It has a presence across India - Bengaluru, Hyderabad, Chennai, Kochi, Coimbatore, Mangaluru, Kolkata, Mumbai, Pune and Goa and also has overseas presence in Gulf and Sri Lanka.

Many listed entities have reported their sales bookings numbers of the last fiscal year.

Bengaluru-based Prestige Estates reported a 90 per cent increase in sales bookings to an all-time high of Rs 10,382.2 crore during the last financial year.

Its sales bookings stood at Rs 5,460.8 crore in the 2020-21 financial year.

The sales bookings of Prestige Estates are higher than Macrotech Developers, which markets its properties under the Lodha brand. Macrotech reported 51 per cent growth in its sales booking to a record Rs 9,024 crore during the last fiscal.

The sales bookings of Bengaluru-based Sobha Ltd rose by 23 per cent to an all-time high of Rs 3,870 crore in FY'22.

Sunteck Realty's sales bookings jumped 27 per cent to Rs 1,303 crore in the last fiscal.

Ashiana Housing has reported 7 per cent increase in its sales booking to Rs 573.25 crore in the 2021-22 fiscal year. PTI MJH