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HomeReal Estate NewsPuravankara new launches add up to only a fourth of the targeted area in FY25
The Bengaluru-based real estate developer was well short of the 12 million square feet that it aimed to launch in the financial year ended March 2025.
By Sriram Iyer April 17, 2025, 9:17:08 AM IST (Published)
Bengaluru-based Puravankara wanted to launch 12 million square feet of space in new properties in the financial year ended March 2025. It only managed 3 million, according to the latest business updated shared with the stock exchanges.
"Approval delays have temporarily deferred several launches. However, we are now in the advanced stages of securing approvals and expect to launch majority of the deferred projects over the next two quarters," the company said in the statement.
The company's peer, Prestige Estates, also reported a 19% decline
in new launches during the year citing approval delays.
Pre-sales between January and March 2025 stood at ₹1,282 crore, bringing the total sales value for FY25 to ₹5,006 crore. Average price realisation increased by 10% to ₹8,830 per square feet during the financial year.
Puravankara Group bought over 8 million square feet of land worth ₹1,300 crore in the last financial year. That's the biggest ever investment in new land in any one year by the developer. The company estimates the investment to yield a revenue of over ₹13,000 crore.
These are some of the other highlights from the last quarter: Customer collections: ₹946 crores, quarterly sales value ₹1,282 crore, average price realisation increased to ₹9,031 per sq. ft, up 9% (YoY).
