Puravankara, a leading real estate developer in India, saw its shares jump 17.3% during Monday's trading session on April 13, as investors responded positively to the company's March quarter business update, marking its biggest intraday gain in two years.
The company released its update during market hours today, reporting a robust 190% jump in sales to ₹3,547 crore. In the same period last year, it had reported total sales of ₹1,225 crore.
In terms of collections, the company posted a 36% increase to ₹1,213 crore, compared with ₹892 crore in the corresponding period last year.
For the fiscal year ended March 31, 2026, the company recorded total sales of ₹7,407 crore, up 55% from the previous fiscal. Customer collections stood at ₹4,258 crore, up 15% from ₹3,711 crore in FY25.
Average price realisation increased by 21% to ₹10,213 per sq ft during FY26, compared with ₹8,436 per sq ft in FY25.
Further, the company said it handed over 1,301 homes totalling 1.67 million square feet during the quarter, taking the cumulative handover for FY26 to 3,747 homes, or 4.25 million square feet.
Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "During the year, we continued to strengthen our growth pipeline, adding 13.6 million square feet with an estimated GDV of ₹15,200 crore. We also launched new projects in Bengaluru, Mumbai, Kochi, and Pune, alongside new phases of existing projects, with a total saleable area of 6.39 million square feet, of which 3.39 million square feet is from new projects."
As government approval-related delays were resolved in Q4, the company launched three new projects-Purva Silversky, Purva Northern Lights (Bengaluru), and Purva Estrella (Mumbai)-along with new phases of existing projects.
These launches, with a total saleable area of 6.39 million square feet (including 3.39 million square feet from new projects), resulted in strong sales performance and a robust pipeline of upcoming launches for FY27, according to the company's filing.
Puravankara share price trend
Although the company's shares have shown an upward trend in April, they remain far below their one-year highs, having come under severe selling pressure in recent months. The stock has closed in the red for each of the last five months, losing 38% during this period.
To be precise, the shares began their downward trend after reaching a peak of ₹569.90 apiece and have since declined by 61%, based on today's high. From their 52-week high of ₹339 apiece, the stock is down 34%.
Nevertheless, the stock's long-term performance remains impressive, as it is still up 184% over the past three years and 226% over the last five years.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.