On April 12, Puravankara’s shares rose 5% intraday, ensuring the company’s statement of achieving its highest-ever sales for the quarter and fiscal year ended 2023.

Puravankara chronicled a sale value of Rs 3,107 crore for FY23, the uppermost in any financial year since its beginning, signifying a 29% increase from the preceding year’s sales of Rs 2,407 crore, according to the company’s media release.

The customer collections received from the real estate business augmented to Rs 2,258 crore in FY23 against Rs 1,440 crore in FY22, a growth of 57%. The average price realization plunged 14% to Rs 7,768/sft during FY23 from Rs 6,838/sft a year ago.

Besides, the company accomplished the highest ever sale value of Rs 1,007 crore for the 4th quarter since commencement, which rose 21% compared to Rs 831 crore in Q4FY22.

Ashish Puravankara, MD of Puravankara, said the firm had steadily experienced growth during FY23, showing sustained efforts towards market share. Despite maintaining solid sales growth, our firm commitment to execution, prompt delivery, and customer satisfaction relics ahead of our priorities.

At 10:21 am, Puravankara cited Rs 78.65, up Rs 2.94, or 3.88% on the BSE. The share moved individually to a 52-week high of Rs 118 and a 52-week low of Rs 59.35 on April 11 2022, and March 28 2023.

Currently, it is trading 33.35% lower than its 52-week high and 32.52% above its 52-week low.