{"id":143371,"date":"2023-03-23T04:47:56","date_gmt":"2023-03-23T08:47:56","guid":{"rendered":"https:\/\/44.250.171.167\/?p=143371"},"modified":"2023-03-23T04:47:57","modified_gmt":"2023-03-23T08:47:57","slug":"puravankara-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Puravankara Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Puravankara Ltd (PURVA) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:01:59] PURVA said that the company achieved record high sales for 3Q23 and for first nine months of FY23.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:10:31] Aryan Sharma of Infinity enquired about the revenue guidance for next 5 years. Abhishek Kapoor ED answered that PURVA doesn\u2019t give guidance as a process. The company has already launched 4 million sq. ft. of projects and plans to launch an additional 2 million sq. ft., which will add a total of INR4,500 crores in top-line revenue, which should take 3-4 years to complete. Also, there is an additional 16 million sq. ft. launch pipeline that will add additional revenue potential.<\/li>\n<\/ul>\n<ul>\n<li>[00:14:01] Aryan Sharma with Infinity asked about the Mumbai market\u2019s current and future potential. Abhishek Kapoor ED replied that the company has a dedicated team for the Mumbai market and are looking to increase the pre-sales coming from that market over the next 3-5 years, with multiple acquisitions being discussed.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:05] Aryan Sharma with Infinity queried about the commercial projects and the commercial residential mix going forward. Abhishek Kapoor ED answered that 35% of the company\u2019s business will come from Puravankara and 35% will come from Provident. 20% of the business will come from project development and 10% will come from commercial.<\/li>\n<\/ul>\n<ul>\n<li>[00:16:24] Mihir Desai from Desai Investments asked about EBITDA and PAT margin expectation for product mix. Neeraj Gautam EVP Finance said that typically EBITDA margin for Puravankara projects is 30-32%, Provident projects is 22-25%, and plotted projects is 35-40%. PAT is determined by operating expenses, sales and marketing overhead, the number and type of units delivered in a quarter, and revenue recognition.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:17] Mihir Desai from Desai Investments asked about the ready-to-move inventory left from the newly-launched projects. Neeraj Gautam EVP Finance replied that as of Dec. 31, 2022, the company had 0.29 million sq. ft. of ready-to-move inventory and 6.9 million square feet of inventory from ongoing projects.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:56] Mihir Desai from Desai Investments enquired about the cash flow projections for the next 2-3 years. Neeraj Gautam EVP Finance said that the company has been generating an operating surplus for several years, with cash flow from operations increasing by 78% in the nine-month period.<\/li>\n<\/ul>\n<ul>\n<li>[00:21:28] Ronit of Sharekhan asked about the new project in Chennai; developable area, funding, and total amount invested. Abhishek Kapoor ED replied that the project is 100 acres with an investment of INR200 crores. It has the potential to generate over 3 million sq. ft. of development area and a total potential value of about INR750 crores.<\/li>\n<\/ul>\n<ul>\n<li>[00:25:31] Shrinath Gandhi at Arka Fincap asked about performance of Mumbai projects and growth plans for Mumbai and western micro-market w.r.t. launch plans. Abhishek Kapoor ED replied that it\u2019s looking at multiple strategies for its expansion plans, including outright purchases, JDA structures, and society redevelopment. This will happen over the next 18-24 months and PURVA will go with the most feasible and profitable project.<\/li>\n<\/ul>\n<ul>\n<li>[00:29:59] Anushka with Value Investments asked about any new locations for integrated development. Abhishek Kapoor ED said that the company\u2019s focus is on the south and west, with five main markets; Chennai, Bangalore, Hyderabad, Mumbai, and Pune. PURVA plans to go deeper in these markets before expanding into the rest of the country, including the north. Right now, the focus is on scaling up PURVA\u2019s presence in the west.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:55] Anushka with Value Investments enquired about JDA outlook w.r.t new project acquisitions over the next 1-2 years and if competition is increasing. Abhishek Kapoor ED answered that consolidation in the market has made it harder for developers to gain trust from buyers, but PURVA has a strong brand that helps it overcome this challenge.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:14] Nikita Mehta from Newland asked about the deal size guidance. Abhishek Kapoor ED replied that PURVA\u2019s sweet spot is projects between 1-2 million sq. ft., with a minimum of INR750-800 crores of top-line. However, larger projects over 5 million sq. ft may be considered in certain cases.<\/li>\n<\/ul>\n<ul>\n<li>[00:45:50] Tanushree Mehta enquired how many sq. ft. the company plans to launch in CY23. Abhishek Kapoor ED answered that the company is looking at 16 million sq. ft. of total launch.<\/li>\n<\/ul>\n<ul>\n<li>[00:46:44] Tanushree Mehta also asked about the price hike across projects. Abhishek Kapoor ED said that on an overall basis, avg. prices have increased by about 15% YonY across all products for Provident, Puravankara, and Purva Land. In certain micro-markets with lesser inventory and high sales, the prices have gone up much higher, while in other markets with larger inventory and lower elasticity, the prices haven&#8217;t risen as much.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Puravankara Ltd (PURVA) Q3 FY23 Earnings Concall Management Update: [00:01:59] PURVA said that the company achieved record high sales for 3Q23 and for first nine months of FY23. Q&amp;A Highlights: [00:10:31] Aryan Sharma of Infinity enquired about the revenue guidance for next 5 years. Abhishek Kapoor ED answered that PURVA doesn\u2019t give [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5753],"tags":[10169,11279],"class_list":["post-143371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials","tag-earnings","tag-engineering-construction"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":148620,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":143371,"position":0},"title":"Puravankara Ltd Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"June 12, 2023","format":false,"excerpt":"Key highlights from Puravankara Ltd (PURVA) Q4 FY23 Earnings Concall Q&A Highlights: [00:10:46] Srishti Tandon of NVS Brokerage asked how PURVA sees margins picking up since PAT has been negative. Neeraj Gautam EVP said the company had a loss in the same quarter of the previous financial year due to\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":156203,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":143371,"position":1},"title":"Puravankara Ltd Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 14, 2023","format":false,"excerpt":"Key highlights from Puravankara Ltd (PURVA) Q2 FY24 Earnings Concall Business Performance Achieved highest ever quarterly sales value of INR1,600 crores in Q2 FY24, a 102% increase from INR791 crores in Q2 FY23. Sales attributable to Purvankara brand was INR736 crores, Provident brand was INR740 crores, and Purva Land was\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":180562,"url":"https:\/\/alphastreet.com\/india\/puravankara-limited-reports-strong-q3-fy26-revenue-growth-on-higher-handovers-ebitda-margin-improves\/","url_meta":{"origin":143371,"position":2},"title":"Puravankara Limited reports strong Q3 FY26 revenue growth on higher handovers; EBITDA margin improves","author":"Staff Correspondent","date":"February 13, 2026","format":false,"excerpt":"Puravankara Limited (NSE: PURVA, BSE: 532891) reported a sharp year-on-year increase in revenue and a return to quarterly profitability in the December quarter, supported by a higher number of unit handovers and improved realizations, according to the company\u2019s investor presentation on unaudited standalone and consolidated results for Q3 and nine\u2026","rel":"","context":"In &quot;LATEST&quot;","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":142680,"url":"https:\/\/alphastreet.com\/india\/puravankara-limited-q3fy23-earnings-story\/","url_meta":{"origin":143371,"position":3},"title":"Puravankara Limited Q3FY23 Earnings Story","author":"Karan_Singh","date":"February 10, 2023","format":false,"excerpt":"Property sales are conducted by Puravankara Ltd. under the brands Puravankara, Provident Housing, and Purva Land. Puravankara has finished 78 projects totaling around 44 million square feet as of March 2022 in nine cities: Bangalore, Madras, Hyderabad, Coimbatore, Mangaluru, Kochi, Bombay, Pune, and Goa. 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[00:04:49] Profitability during 3Q23 was impacted by two low-margin projects in Pune,\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141197,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-purva-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":143371,"position":5},"title":"Puravankara Ltd (PURVA) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 13, 2023","format":false,"excerpt":"Puravankara Ltd (NSE:PURVA) Q3 FY23 Earnings Concall dated Feb. 10, 2023. Corporate Participants: Neeraj Gautam\u00a0--\u00a0Executive Vice President, Finance Abhishek Kapoor\u00a0--\u00a0Executive Director & Chief Executive Officer Unidentified Speaker\u00a0-- Analysts: Samar Sarda\u00a0--\u00a0Axis Capital -- Analyst Aryan Sharma\u00a0--\u00a0Infinity Capital -- Analyst Mihir Desai\u00a0--\u00a0Desai Investments -- Analyst Ronit\u00a0--\u00a0Sharekhan Limited -- Analyst Srinath Nandi\u00a0--\u00a0RFL Fincap\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/143371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=143371"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/143371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=143371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=143371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=143371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}