Realty Stock Turns Ex-Dividend Today For Rs. 6.30/Share: Buy/Sell Or Hold?

With a market capitalization of approximately Rs 6,000 Cr, Puravankara Ltd. is a small-cap company in the real estate industry. The real estate stock is the subject of attention as it will trade today ex-dividend with a 120% payment at a face value of Rs 5. The company has fixed Thursday, February 1, 2024 as the record date and due to the T+1 settlement mechanism In India, the stock shall trade ex-dividend today.

Puravankara Dividend

The company has declared Rs. 6.30/- per share for the financial year 2023-24 on 23,71,49,686 equity shares of face value of Rs. 5/- each. "The interim dividend shall be paid on or before Thursday, February 8, 2024, to those shareholders whose name stands on the Register of Members of the Company as on the Record Date i.e. Thursday, February 1, 2024," said the company in a stock exchange filing.

Puravankara Financials

According to a regulatory filing on January 23, Puravankara reported a profit of Rs 78 crore in Q3FY24, up 266 per cent year-on-year (YoY) on revenue of Rs 596 crore. The firm recorded a 56% YoY rise in sales in Q3, reaching Rs 1,241 crore. At Rs 218 crores, the EBITDA was 71% more than it was in the same quarter of last year. Compared to the previous quarter, the developer's net debt decreased by Rs 251 crore to Rs 1,741 crore. In Q3 of FY24, its net debt-to-equity ratio was 0.85.

Puravankara Share Price Target

Puravankara is overbought on the Daily charts with the next resistance at 285. A daily close below support of 245 could lead to a target of 204 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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