Total
Consolidated Revenue for Q1FY20 at INR 646 Crore, up 64% YoY
Profit
After Tax for Q1FY20 at INR 43 Crore, up 63% YoY
Group
sales up 33% YoY to INR 493 Crore
Commenting
on the company’s performance, Mr. Ashish R Puravankara, Managing
Director, Puravankara Limited, said, “We have begun the new fiscal on a strong
note with robust sales, cashflows and net profits. The recent Union budget has
provided further impetus to the real estate sector and we, at Puravankara
Group, will continue to capitalize on our strong execution capabilities,
trusted brand reputation and further cement our established foothold in the
sector. Our focused efforts towards sales of ‘ready to move’ inventory
are reaping results.
Bringing
delightful customer experience is embedded in the very DNA of our organization
and with our USP of constant adaptation to changing customer demands, we have
recently launched a new line of homes ‘BluNex’, which brings the smart features
of home automation that redefines the home living experience.
As part
of our strategy to keep bettering sustainable construction methodologies and
leveraging proptech to accelerate delivery cycles and minimize wastage, this
quarter saw the opening of our pre-cast production workshop at Bangalore,
intended for captive consumption.
Our new
launch pipeline is on track and we are confident that each passing quarter will
see better results and sustain our robust balance sheet. We look forward to the
fiscal year with renewed vigor”.
Operational
Highlights for Q1FY20
During
the quarter, the group sold 638 units, averaging almost 10 units per day. More
than half of the area sold came from ready-to-move-in inventory. This is in
line with the Group’s resolve of accelerating ready-to-move-in sales and paring
debt levels.
Q1FY20
witnessed a total booking value of INR 493 crores compared to a total booking
value of INR 370 crores in Q1FY19, an increase of 33% yoy.
In
Q1FY20, brand Puravankara’s Ready-to-Move-in inventory witnessed a total
booking value of INR 181 crores, as compared to a total booking value of INR 63
crores in Q1FY19, up 187% YoY.
Consolidated Financial
Performance (As per IND-AS 115) for the quarter ended 30th June 2019
• Revenues at INR 646 crores; up 64% YoY
• EBITDA at INR 160 crores, up 49% YoY
• EBITDA Margin stood at 25%
• Profit before Tax (PBT) at INR 65 crores, up
85% YoY
• Profit after Tax (PAT) at INR 43 crores; up
63% YoY
Cash Flows
Customer
Collections for the quarter ended June 30, 2019, were INR 441 crores;
up 75% YoY.
The
balance collections from sold units in all launched projects stands at INR
2,045 crores as of June 30, 2019 and compares favourably against the
balance cost to go of INR 1,897 crores. Combined with the unsold
receivables from launched projects of INR 4,074 crores, the
projected operating surplus of INR 4,222 crores on the launched
portfolio compares favourably against the current outstanding net debt of INR
2,687 crores as on June 30, 2019.
Debt
Debt-
Equity Ratio of 1.42
The
weighted average cost of debt is 11.22 % as of June 30,
2019
|
Investor
Relations
|
Kuldeep
Chawla
Chief
Financial Officer
+91-80-4343-9999
|
|
Media
Relations
|
Minol
Ajekar
Head -
Corporate Communications
+91-80-4343-9710
|
DISCLAIMER:
Some of
the statements in this communication may be ‘forward looking statements’,
within the meaning of applicable laws and regulations. Actual results might
differ substantially from those expressed or implied. Important developments
that could affect the company’s operations include changes in the industry
structure, significant changes in the political and economic environment in
India and overseas, tax laws, duties, litigation and labour relations.
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