Puravankara posts multi-fold jump in net profit at Rs 22.55 crore in Q3

New Delhi, Feb 10 (PTI) Realty firm Puravankara Ltd on Friday reported a multi-fold increase in its consolidated net profit at Rs 22.55 crore in the third quarter of this fiscal year on higher revenue.

Its net profit stood at Rs 1.20 crore in the year-ago period.

Total income rose to Rs 410.40 crore during the October-December quarter of this fiscal year from Rs 246.45 crore in the corresponding period of the previous year, the Bengaluru-based developer said in a regulatory filing.

However, the company’s net profit declined to Rs 39.77 crore in the first nine months of this fiscal from Rs 167.62 crore in the corresponding period of the previous year.

Total income also declined to Rs 960.60 crore during the April-December period of this fiscal from Rs 1,061.53 crore a year ago.

As of March 2022, Puravankara has completed 78 projects measuring around 44 million square feet across 9 cities — Bengaluru, Chennai, Hyderabad, Coimbatore, Mangalore, Kochi, Mumbai, Pune and Goa. Its total land bank is about 57 million square feet, and ongoing projects add up to around 25 million square feet.