News for Puravankara Limited (PURVA.NS)

Feb 14, 2025 / 11:15AM GMTOperator Ladies and gentlemen, good day and welcome to Puravankara Limited Q3 FY25 post-results conference call hosted by Motilal Oswa

Provident Housing launches second phase of Provident Ecopolitan project in Bengaluru, offering 581 units near KIADB Aerospace Park.

Puravankara Limited acquires 3.63-acre land in Bengaluru for premium residential project, emphasizing strategic expansion in favorable market conditions.

Puravankara acquires 3.63-acre land in Bengaluru, expected to generate over ₹700 crore, expands footprint in key micro-markets.

Puravankara Limited appoints Deepak Rastogi as CFO, aiming to enhance financial controls and operational efficiencies for future growth.

Puravankara Limited appoints Deepak Rastogi as Group CFO effective January 15, 2025. With over three decades of finance and strategy experience, Rastogi's leadership is expected to bolster the company's expansion plans. Neeraj Gautam is promoted to Deputy CFO. Puravankara has completed 85 projects across nine cities and continues to grow its real estate footprint.

Puravankara Limited reports widened loss in Q2FY25, with increased revenue and investments for future growth.

Real estate developers in India are leveraging the festive season with offers like EMI waivers, GST exemptions, and free registration to boost sales. Major builders are featuring discounts, complimentary car parking, and fully furnished apartments. Some are collaborating with banks to offer fixed interest rates on home loans, enhancing buyer appeal.

If the RBI cuts interest rate in December, as indicated in its latest monetary policy review on Wednesday, it will positively impact the real estate sector by boosting demand, said Abhishek Kapoor, group CEO of Puravankara Ltd. Speaking to NDTV Profit, he attributed most of the demand to a rising economy. “The RBI rate cut cycle will have a positive impact on us. The current rates have had no impact on demand. A reduction will have a positive impact on demand as well as the industry,” he said.

'Developers are into profit-making. And there's not too much money in the affordable segment.' 'So, they don't do affordable housing.'

The rally in microcap stocks, according to Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities, has been on the back of growth in earnings in a lot of these companies

NSE restricts securities accepted as collateral for margin trading, raising concerns among traders and investors.

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On the previous day, US markets settled higher, with Nasdaq and S&P 500 reaching record highs

The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet, with over ~2.15 lakh square feet available for sale.

The Nifty Pharma index closed 0.91 per cent down at 18617.65.

The Nifty Realty index closed 0.88 per cent down at 952.4.

The Nifty Pharma index was trading 0.62 per cent down at 18997.8.

The Nifty Auto index was trading 0.2 per cent down at 22023.7.