Small Cap Real Estate Stock Hits 52 Week High, Zooms 12.66% On Robust Sales

Shares of small cap real estate player, Puravankara Ltd gained 12.66% intraday to 139.25 per share on BSE after it announced robust sales and collections for the Q2 ended September 30, 2023. According to the BSE filing of the company issued on October 10, 2023, "achieved highest-ever sales value of INR 1,600 Crore in any quarter and the second quarter of any financial year since inception. Up by 102% compared to INR 791 Crore in Q2FY23."

The company also achieved sales value of INR 2,725 crores in H1FY24. Up by 109% when compared to INR 1,304 Crore in H1FY24. Meanwhile, customer collections from the real estate business increased to INR 879 Crore in Q2FY24 in comparison to the customer collection of INR 518 Crore in Q2FY23 which implies a jump of 70% YoY. Its average price realisation increased by 7% to INR 7,947/sft during Q2FY24 from INR 7,419/sft in Q2FY23. The company has launched 1 new project and 2 new phases in this quarter.

Puravankara Share Performance & Return: Last trading price of Puravankara stock on BSE is Rs 138.05 per share with intraday gain of 12.66%. Its 52-week high price is Rs 141.05 per share and 52-week low price is Rs 59.35 per share, respectively. The company's market capitalisation is Rs 3280.97 crore. Puravankara shares gained 80% in last 6-months, soared 49% YTD, rallied 47% in last 1-year, and surged 210% in last 3-years. In last 5-years, Puravankara stock rallied 101%.

Puravankara Dividend: The company announced a final dividend of Rs 5 per equity share of the face value of Rs 5 each. Puravankara shares traded ex-dividend on September 15, 2023. It announced dividend after 2019.

Puravankara About: Puravankara Limited is a real estate player headquartered in Bengaluru. It was founded in 1975. Besides residential brands, Starworth Infrastructure and Construction Limited (SICL) is a wholly-owned subsidiary focused on technology-enabled construction solutions.

The company also has an established presence in commercial office spaces. Puravankara Group has a presence in Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, and Mangaluru. The company was one of the first developers in India to secure FDI in real estate, according to its official website.