Puravankara (PURVA) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 sales reached INR 1,265 crores with volumes of 1.43 million sq ft; customer collections rose 6% YoY to INR 993 crores for the quarter and 19% YoY for nine months.

• Achieved sales value of INR 3,724 crores in 9M FY25, slightly down from INR 3,966 crores in 9M FY24, with strong growth in Provident brand sales and higher realizations.

• Average realization per sq ft increased 60% YoY to INR 8,847, driven by inventory mix and strong performance from Provident and Puravankara brands.

• Land investments of INR 1,236 crores and business development of 7 million sq ft with GDV over INR 12,000 crores in nine months.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

Financial highlights

• Q3 total revenue was INR 334 crores; EBITDA margin at 10%; net loss of INR 94 crores for the quarter.

• Nine-month total income up 16% YoY; total comprehensive loss at INR 99 crores.

• Standalone revenue from operations for Q3 FY25: ₹189.06 crore, down from ₹313.19 crore in Q3 FY24; nine months revenue: ₹762.29 crore vs ₹675.51 crore YoY.

• Consolidated revenue from operations for Q3 FY25: ₹318.17 crore, down from ₹573.70 crore in Q3 FY24; nine months revenue: ₹1,472.04 crore vs ₹1,265.29 crore YoY.

• EBITDA margin for 9M FY25 was 21%, down from 30% in 9M FY24.

Outlook and guidance

• Expecting robust growth driven by economic performance, urbanization, and infrastructure development.

• Strong pipeline of 12.63 msft in planned launches, with estimated surplus of INR 5,762 crores from new projects.

• Launches of key projects in Q4 and next two quarters expected to boost cash collections and pre-sales.

• Targeting deployment of remaining HDFC fund capital (over INR 700 crores) by June 2025.

• Committed to green building certifications and ESG initiatives for all new projects.