Q1 2025 Puravankara Ltd Earnings Call Transcript
Key Points
- Puravankara Ltd (BOM:532891) reported a significant year-on-year sales growth of 39%, reaching INR1,128 crores in Q1 FY25.
- The company achieved a 6% year-on-year increase in average realization to INR8,746 per square foot.
- Puravankara Ltd (BOM:532891) has a robust launch pipeline with approximately 12.7 million square feet of new projects.
- The company deployed INR762 crores for land acquisition in key markets like MMR, Goa, and Bangalore, indicating strategic expansion.
- Total revenue for Q1 FY25 grew by 101% year-on-year to INR676 crores, showcasing strong financial performance.
- Net debt increased from INR2,151 crores in Q4 FY24 to INR2,237 crores in Q1 FY25, raising concerns about debt management.
- The cost of debt stood at 11.64%, with a slight increase due to higher rates in land loans.
- Interest expenses in Q1 FY25 were INR119 crores, implying an average cost of borrowing of 14.5%, which is relatively high.
- The company's net debt to equity ratio at the end of the quarter was 1.17, indicating a higher leverage.
- Despite strong sales, the sales value at Purva Land was lower due to new launches, which could impact short-term revenue.
Ladies and gentlemen, good day, and welcome to the Puravankara Limited Q1-FY25 earnings conference call hosted by JM Financial. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sumit Kumar from JM Financial. Thank you, and over to you, Mr. Kumar.
Hi. Good evening, everyone. On behalf of JM Financial Institutional Securities, I would like to welcome all of you to the Puravankara Limited 1Q-FY25 post-earnings conference call. From the management, we have with us today, Mr. Abhishek Kapoor, Executive Director, Group Chief Executive Officer and Chief Financial Officer; Mr. Neeraj Gautam, President, Finance; and Mr. Vishnu Moorthi H., Senior Vice President, Risk and Controls.
I would now like to hand over the call to the management for their opening remarks. Over to you, sir, and thank you.
Thank you, Sumit. Good evening,
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