Puravankara Limited, (5th best Indian real estate brand as per Track2Realty BrandXReport 2022-23), has recorded a strong sales performance in 9MFY24 with a sales value of INR 3,967 crores, an increase of 89 per cent compared to INR 2,100 crores in 9MFY23.
On Puravankara’s future plans he said, “We will continue to work towards expanding our market share,and we are excited to announce that in Q3FY23 the group has achieved increased revenue from projects by 77%, increased collection from operations by 87% from construction and delivery against the similar quarter in the previous year. This is supported by increased sales and new launches of over 4.11 msft in 9MFY23 with the last quarter of the current financial year adding another 2.17 msft. Our per Sq. Ft. of debt on under construction area has reduced by 49% from INR 2,524 to INR 1,291 over the last four years.
SOBHA Limited claims to have achieved best ever quarterly sales volume of 1.13 million square feet of Super Built up Area valued at INR 8.88 billion, with an average price realization of INR 7,830 per square feet during Q3-21. Sales volume, total sales value and Sobha share of sales value during Q3-21 were up by 27% ,29% , 28% respectively as compared to Q2-21.
Market dynamics are changing and we are aware that urban population is rising, more so in India. There is massive shortfall in infrastructure and urban housing. Due to climatic change and rising environmental concerns, more resilient buildings which are environment friendly will be required. There is also a perceptible change in the way people live, work and play. People are living longer; households are getting smaller; there is increased mobility; and of course technology is transforming the way people think demand the kind of homes they want and carry on with their lifestyle. Keeping all these in mind, we have taken new initiatives at Sobha to stay ahead of the curve.
An analysis by Track2Realty vis-à-vis the volume of office space consumption per household – not only in India but also internationally in London, Singapore, New York, Tokyo etc concludes that there is equilibrium when the office space consumption is around 60-65 sq feet per household. In India it is rather surprising that the ratio per household even in a city like Mumbai is 25 sq feet. Kolkata has a dismal only 14-15 sq feet office space per household. In Delhi-NCR it is again 20-25 sq feet per household.
It is here that the project SOBHA HRC Pristine in Jakkur, Located off-Bellary Road comes as a welcome break. It is a low-density project but the price point is lesser than many other villa projects in and around North Bangalore. What is all the more interesting is the fact that as per a study, the air quality of Jakkur is the best in the city.
Sobha Limited has reported a 6% quarter-on-quarter increase in its net profit during the Q3 FY18. Its profit after tax (PAT) increased from INR 50.3 crore in Q2 FY18 to INR 53.4 crore in the quarter ending December.