{"id":156203,"date":"2023-11-14T09:53:30","date_gmt":"2023-11-14T14:53:30","guid":{"rendered":"https:\/\/44.250.171.167\/?p=156203"},"modified":"2023-11-14T09:53:31","modified_gmt":"2023-11-14T14:53:31","slug":"puravankara-ltd-q2-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/puravankara-ltd-q2-fy24-earnings-conference-call-insights\/","title":{"rendered":"Puravankara Ltd Q2 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Puravankara Ltd (PURVA) Q2 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Business Performance<\/strong>\n<ul>\n<li>Achieved highest ever quarterly sales value of INR1,600 crores in Q2 FY24, a 102% increase from INR791 crores in Q2 FY23.<\/li>\n<li>Sales attributable to Purvankara brand was INR736 crores, Provident brand was INR740 crores, and Purva Land was INR124 crores.<\/li>\n<li>Average price realization per square feet increased by 7% to INR7,947 in Q2 FY24 from INR7,396 in Q2 FY23.<\/li>\n<li>Net debt to equity ratio declined from 1.10 to 1.01.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Project Launches<\/strong>\n<ul>\n<li>Launched Provident Ecopolitan in Bangalore with 1.13 million square feet saleable area.<\/li>\n<li>Introduced new phase Purva Park Hill Tower B in Bangalore with 0.3 million square feet saleable area.<\/li>\n<li>Launched Phase 4B of Purva Windermere in Chennai with 0.35 million square feet saleable area.<\/li>\n<li>Launch pipeline of about 13 million square feet ensures consistent new projects.<\/li>\n<li>42% of ongoing projects and 72% of launch pipeline now outside of Bangalore.<\/li>\n<li>Providence brand accounts for 50% share of total launch pipeline.<\/li>\n<li>For H2 FY23, PURVA has 15 projects in advanced stages of RERA approval.<\/li>\n<li>12-13 projects are expected to be launched by March 2024.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Cash Flow Visibility<\/strong>\n<ul>\n<li>Outstanding receivables of INR3,636 crore covers about 77% of remaining cost to complete unsold inventory.<\/li>\n<li>Projected cash flows of INR6,455 crore over next 3-4 years provides funding cushion.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Financial Outlook<\/strong>\n<ul>\n<li>In Q2, only 481 units were delivered, leading to a loss due to high overhead costs.<\/li>\n<li>In H2, expecting delivery of about 2,500 units which should lead to a positive outlook if overheads remain stable.<\/li>\n<li>Not providing guidance or quantifying profit, but directionally profit is expected with higher unit deliveries.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Debt Position<\/strong>\n<ul>\n<li>Net debt reduced from INR2,144 crore in Q2 FY23 to INR1,992 crore in Q2 FY24.<\/li>\n<li>Debt per square foot of building assets decreased from INR1,376 to INR886<\/li>\n<li>Gross debt was INR2616 crores, first time net debt below INR2000 crores at INR1992 crores.<\/li>\n<li>PURVA has INR624 crores of cash and cash equivalents across accounts.<\/li>\n<li>The company has debt repayment of about INR400 crores due by end of FY2024 which will happen automatically.<\/li>\n<li>Will maintain current debt levels through growth and land acquisitions, while managing repayments.<\/li>\n<li>The company aims to keep absolute debt levels stable while increasing project launches.<\/li>\n<li>Debt repayment of about INR700 crore is expected over the next 12 months.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Future Growth and Expansion<\/strong>\n<ul>\n<li>Will continue to grow its business volume and market share.<\/li>\n<li>New land acquisitions are being evaluated for future growth.<\/li>\n<li>With strong collections and sales momentum, growth is expected to be sustained over the next few years.<\/li>\n<li>The real estate market outlook remains positive, supporting expansion plans.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Realization Trends<\/strong>\n<ul>\n<li>Current realizations are around INR8,000 per square feet for residential projects.<\/li>\n<li>New Purva Land and Provident launches at lower price points will temper average realization in the near term.<\/li>\n<li>Longer term trajectory is for higher realizations, driven by Mumbai\/Pune projects.<\/li>\n<li>Margins expected to remain stable around 30% plus despite mix changes.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Launch Contribution<\/strong>\n<ul>\n<li>New launches contributed INR680 crore out of INR1,600 crore sales in Q2 FY23.<\/li>\n<li>With upcoming launches in H2 FY23, similar sales momentum is expected.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Growth Outlook<\/strong>\n<ul>\n<li>Strong collections and sales trends expected to continue in H2 FY23.<\/li>\n<li>Positivity in real estate market bodes well for expansion plans.<\/li>\n<li>Strategy is to increase market share and volumes along with realizations.<\/li>\n<li>West India and South India acquisitions to aid growth next fiscal year.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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 INR124 crores. Average price realization [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"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":[10169,11279,8708],"class_list":["post-156203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials","tag-earnings","tag-engineering-construction","tag-housing"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.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":156203,"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. 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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":142680,"url":"https:\/\/alphastreet.com\/india\/puravankara-limited-q3fy23-earnings-story\/","url_meta":{"origin":156203,"position":2},"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":174360,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-purva-q2-2025-earnings-call-transcript\/","url_meta":{"origin":156203,"position":3},"title":"Puravankara Ltd (PURVA) Q2 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Puravankara Ltd (NSE: PURVA) Q2 2025 Earnings Call dated Nov. 08, 2024 Corporate Participants: Neeraj Gautam \u2014 Executive Vice President, Finance Analysts: Harsh Patakh \u2014 Analyst Deepak Purswani \u2014 Analyst Abhishek Kapoor \u2014 Executive Director and Chief Executive Officer Krishna Shah \u2014 Analyst Anoushka Roy \u2014 Analyst Chintan Mehta \u2014\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":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147543,"url":"https:\/\/alphastreet.com\/india\/puravankara-ltd-purva-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":156203,"position":4},"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":156342,"url":"https:\/\/alphastreet.com\/india\/steel-authority-of-india-ltd-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":156203,"position":5},"title":"Steel Authority of India Ltd Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 16, 2023","format":false,"excerpt":"Key highlights from Steel Authority of India Ltd (SAIL) Q2 FY24 Earnings Concall Financial Performance SAIL registered best ever Q2 results in Q2 FY2024. 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