{"id":148620,"date":"2023-06-12T10:27:53","date_gmt":"2023-06-12T14:27:53","guid":{"rendered":"https:\/\/44.250.171.167\/?p=148620"},"modified":"2023-06-12T10:27:55","modified_gmt":"2023-06-12T14:27:55","slug":"puravankara-ltd-q4-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q4-fy23-earnings-conference-call-insights\/","title":{"rendered":"Puravankara Ltd Q4 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Puravankara Ltd (PURVA) Q4 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[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 less revenue recognition. However, for the last financial year and this financial year, both as a whole and for 4Q, the company recorded a profit.<\/li>\n<\/ul>\n<ul>\n<li>[00:12:16] Srishti Tandon of NVS Brokerage enquired about the commercial plans and timelines for FY24 and FY25, including the total square feet planned for launch. Abhishek Kapoor ED said revenue recognition and PAT depend on the possessions handed over in a quarter and expenses booked in the quarter. PURVA currently has 3 million sq. ft. under construction, with completion expected in 2025, but no new commercial launches are planned for FY24.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:21] \u00a0Harish Shah at HS Investments asked if the recent increases in home interest rates led to a decline in footfalls or conversion rates and how has it impacted end demand in the income and luxury segments. Abhishek Kapoor ED replied that PURVA has seen no impact of increased interest rates on demand and had its highest quarter last year with over 4 million sq. ft. of sales. Demand is expected to increase due to appraisal cycles, work-from-home, and high rental prices.<\/li>\n<\/ul>\n<ul>\n<li>[00:18:00] Harish Shah at HS Investments enquired if PURVA expects pricing to increase due to higher demand for both existing and upcoming projects. Abhishek Kapoor ED clarified that realization is influenced by multiple factors such as inventory mix, product type, market demand-supply dynamics, and brand value. PURVA is confident that it will see a positive uptick in pricing due to these factors.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:01] Harish Shah at HS Investments enquired how does PURVA expect its plotted development projects in Chennai with over 3.7 million sq. ft. saleable area to pan out and the expected cash flow from the project in FY24. Abhishek Kapoor ED said PURVA is excited about Chennai due to the successful launch of projects such as South Bay and Raagam and the quality of its plotted developments. Collections typically range from 50-60% of sold realization within the first year of launch and expects to collect 40-50% from Raagam in FY24.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:57] Yashvi Jain at ICICI Direct asked about PURVA\u2019s plans to launch the Chennai project and the expected revenue from it. Abhishek Kapoor ED replied that the company has launched a 700,000 sq. ft project in Chennai with expected revenues in excess of INR200 crores and plans to launch another 1 million sq. ft. project within the next two quarters with a total revenue potential of INR250-275 crores. Subsequent phases will add value to the 3 million sq. ft. development.<\/li>\n<\/ul>\n<ul>\n<li>[00:24:13] Yashvi Jain at ICICI Direct queried about the plans for debt reduction and controlling the debt-equity ratio. Neeraj Gautam EVP said that debt for the residential business and land purchases has decreased while debt for commercial projects has increased. The company has also taken on debt to buy out a JV partner\u2019s cash flow. Debt per sq. ft. of development has decreased from INR2,077 to INR1,106.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:34] Yashvi Jain with ICICI Direct asked if the company is planning any new projects for pipeline sector. Abhishek Kapoor ED replied that the company plans to launch 16 million sq. ft. of developable area and 13.7 million sq. ft. of sellable area spread across the south and west of India, with 3.74 million sq. ft. in Puravankara, 6.22 million square feet in Provident, and 3.73 million square feet in Purva Land.<\/li>\n<\/ul>\n<ul>\n<li>[00:28:24] Tirath Muchhala from Elusividya Advisory asked about the reason for the significant increase in operating outflows for the year. Neeraj Gautam EVP said that operating outflows have increased due to accelerated construction, initial working capital for launching nine new projects, and spending on two commercial projects. These outflows are backed by increased operating inflows and a CF line for commercial development.<\/li>\n<\/ul>\n<ul>\n<li>[00:33:17] Tirath Muchhala at Elusividya Capital enquired about delivery number for FY24. Abhishek Kapoor ED said the company delivered over 1,600 units and 1.73 million sq. ft. in the last financial year and aims to double that to over 3,000 units in the next financial year.<\/li>\n<\/ul>\n<ul>\n<li>[00:34:20] Sukhum Mafti from Amin Securities asked if PURVA is looking to do any acquisition on the land bank front. Abhishek Kapoor ED said that the company is actively pursuing new acquisitions for Puravankara, Provident, and Purva Land across the south and west with a robust pipeline and special focus on the western region, especially Mumbai and Pune.<\/li>\n<\/ul>\n<ul>\n<li>[00:43:29] Samar Sarda of Axis Capital asked about the capital outflows and establishment expenses in cash flows. Abhishek Kapoor ED said the capital investment was INR124 crores and establishment cost was about INR90 crores.<\/li>\n<\/ul>\n<ul>\n<li>[00:47:13] Samar Sarda of Axis Capital enquired about the company\u2019s comfortable inventory month level compared to its peers. Abhishek Kapoor ED replied that the company manages its inventory by opening it for sale based on the quantum of volumes sold at launch and in a particular year. A new inventory phase is added when 70% of sales have been done in the previous phase. This ensures that the inventory available in the market is comfortable for the financial closure of the project and that construction costs are never overcommitted.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Puravankara Ltd (PURVA) Q4 FY23 Earnings Concall Q&amp;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 less revenue recognition. However, for [&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":"Puravankara Ltd Q4 FY23 Earnings Conference Call Insights #PURVA #Q4 #FY23 #Earnings #Stocks","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-148620","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":147543,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-purva-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":148620,"position":0},"title":"Puravankara Ltd (PURVA) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 26, 2023","format":false,"excerpt":"Puravankara Ltd\u00a0 ( NSE : PURVA) Q4 FY23 Earnings Concall dated May. 26, 2023 Corporate Participants: Neeraj Gautam\u00a0\u2014\u00a0Executive Vice President, Finance Abhishek Kapoor\u00a0\u2014\u00a0Executive Director & Chief Executive Officer Analysts: Samar Sarda\u00a0--\u00a0Axis Capital -- Analyst Srishti Tandon\u00a0--\u00a0NVS Brokerage -- Analyst Harish Shah\u00a0--\u00a0HS Investment -- Analyst Yashvi Jain\u00a0--\u00a0ICICI Direct -- Analyst Tirath\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":[]},{"id":143371,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":148620,"position":1},"title":"Puravankara Ltd Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"March 23, 2023","format":false,"excerpt":"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&A Highlights: [00:10:31] Aryan Sharma of Infinity enquired about the revenue guidance for next 5 years. Abhishek Kapoor ED\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":148620,"position":2},"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":142680,"url":"https:\/\/alphastreet.com\/india\/puravankara-limited-q3fy23-earnings-story\/","url_meta":{"origin":148620,"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. In addition to active projects, the\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1252224581.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1252224581.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-1252224581.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147387,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q4fy23-results-out-revenue-grows-by-31\/","url_meta":{"origin":148620,"position":4},"title":"Puravankara Ltd Q4FY23 results out, revenue grows by 31%","author":"Chirag Gupta","date":"May 26, 2023","format":false,"excerpt":"Puravankara Ltd reported Total revenue for Q4 FY23 of \u20b9389 Crore, up from \u20b9296 Crore year on year depicting a growth of 31%. Consolidated Net Profit of \u20b927 Crore, up 235% from -(\u20b920) Crore in the same quarter of the previous year.\u00a0The Earnings per Share is \u20b91.12, up 232% from\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/a069c057-9f15-4e6e-ad69-f8f80aab4af7.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":148114,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q4fy23-results-out-revenue-grows-by-over-31\/","url_meta":{"origin":148620,"position":5},"title":"Puravankara Ltd Q4FY23 results out, revenue grows by over 31%","author":"Chirag Gupta","date":"June 2, 2023","format":false,"excerpt":"Company is in the business of development and sale of real estate. Projects in metro cities like Bengaluru, Hyderabad, Chennai, Kolkata, Mumbai, Pune and Goa. Company has completed 43 million square feet covering 74 projects. Puravankara Ltd reported Total revenue for Q4 FY23 of \u20b9389 Crore, up from \u20b9296 Crore\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.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\/148620","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=148620"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/148620\/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=148620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=148620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=148620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}