Puravankara Shares Jump 16% on Strong Q1 Update

Shares of Puravankara jumps 16% on NSE on Monday after the company posted a strong Q1 update led by rising pre-sales.

Puravankara reported pre-sales of Rs 1,439 crore for the June quarter, up 28% from a year earlier. Collections grew even faster, climbing 40% to Rs 1,199 crore.

The company said this points to steady customer confidence and on time project delivery. Sales area for the quarter grew 9% to 1.36 million square feet.

The average price the company realised per square foot rose 18% to Rs 10,589, a sign it is leaning harder into premium projects.

Puravankara also handed over 745 homes during the quarter, spread across close to 0.94 million square feet.

Managing Director Ashish Puravankara called it a strong start to the year, one that reflects the resilience of the company’s business strategy.

He said the jump in price realisation shows the shift toward premium, well located developments is creating real value for customers and shareholders alike.

There was deal activity too. Puravankara signed an agreement with ICICI Prudential Asset Management Company to sell its commercial property, Purva Zentech, valuing the asset at Rs 625.94 crore.

It also announced four land deals in Bengaluru worth a combined Rs 5,200 crore across nearly 42 acres, the biggest being a 14.57 acre parcel in Mandur worth Rs 2,300 crore.

The company said this quarter keeps it on track to hit its FY2026-27 sales target of Rs 11,200 crore across the Southern and Western regions.

By close, the stock settled at Rs 248.40 on the NSE, up 10.86% for the day.

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