A View at Puravankara’s Net Profit

October 30, 2007	(Be the first to rate this story!)  Loading ...
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Puravankara Projects (PPL) records a hike of 114% increase in its combined net profit for the second quarter (Q2) ended September 30, 2007. The company’s consolidated net profit for quarter (Q2) of the current financial year stands at Rs 60.21 crore whereas it is Rs 28.19 crore for the corresponding quarter in the previous fiscal

There is a sharp increase in PPL’s net profit margins that are believed to have escalated to over 42%. Revenues have increased by 45% to Rs 141.01 crore from Rs 97.34 crore because of the developable area of current projects increasing to 14.90 million sq ft with projects in cities including Bangalore, Chennai, Hyderabad and Mysore.

Net profit margins have considerably risen to 40% in the current quarter owing to higher gross profit margins and low sales. And, there is a decrease in general and administrative expenses, which have been accounted to reduce to 7.36% of revenues, this quarter.

As far as operating results are concerned, Puravankara Projects show satisfactory signs for both the quarters. The company has significantly strengthened its position in the market, thereby carving a niche for itself. The cash balance of Rs 550 crore of the company is further supported by negotiated bank borrowing limits, along with fully paid high quality land bank

News Published Under:   Real Estate Developers |

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