Shares of Puravankara hit a 52-week high of Rs 244.10 on 10 January after the company announced its quarterly sales report for October-December.

In its regulatory filing, the company reported a 55.90% year-on-year increase in its sales value to Rs 1,241 crore during the quarter from Rs 796 crore reported in the same quarter during the previous fiscal year.

The company also achieved the highest-ever customer collection from its real estate business to Rs 941 crore during the quarter, which is a 52% YoY against Rs 621 crore reported in the same quarter last year.

The strong quarterly business report cheered the investors of the company, causing around 37 lakh shares of the company to change hands on the exchanges from its one-month daily traded average of 18 lakh shares, causing the shares to skyrocket by 10.55% during the early trading session.

The company has also announced the launch of two new projects during the quarter: Provident Deansgate in Bengaluru and Purva Soukhyam in Chennai.

Ashish Puravankara, Managing Director of Puravankara, said, “Achieving our highest-ever collection for the first nine months of FY24 as well as for Q3 is a testament to our significant progress in construction. The successful launch of two new projects and a promising pipeline of upcoming launches shows our confidence in sustaining this positive momentum.”

At 1:17 pm, the shares of Puravankara were trading 4.82% higher at Rs 231.45 on NSE.