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Puravankara Limited Earnings Release 2021
61023_rns_2021-11-12_1636216e-f3b5-4c39-a151-1e831bd0d313.pdf
Earnings Release
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November 12, 2021
| The General Manager – DCS, | The Manager, |
|---|---|
| Listing Operations-Corporate Services Dept. | Listing Department, |
| BSE Ltd. | National Stock Exchange of India Ltd., |
| 1st Floor, New Trading Ring, Rotunda Building, | Exchange Plaza, 5th Floor, Plot No. C/1, G |
| 'P J. Towers, Dalal Street, Fort, Mumbai | Block, Bandra-Kurla Complex, Bandra (E), |
| 400 001. | Mumbai |
| [email protected] | [email protected] |
| Stock Code: 532891 | Stock Code: PURVA |
Dear Sir / Madam,
Sub: Press Release
Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
The Board of Directors approved the Consolidated and Standalone – Un-Audited Financial Results for the Quarter and Half Year ended September 30, 2021 as reviewed and recommended by the Audit Committee at its meeting held today.
In this connection please find attached herewith a copy of the press release and the contents are selfexplanatory.
Yours faithfully For Puravankara Limited
D Bindu Digitally signed by D Bindu DN: c=IN, o=Personal, 2.5.4.20=d405520a9a2f1ae7ec610a986 eba5247bc163995c05d9449cfda8cd92 f79a14e, postalCode=560038, st=Karnataka, serialNumber=b8e187f9d70b45657e7 4376b128dd7c22c433c80ccd10263a2d 578fc36bcda68, cn=D Bindu Date: 2021.11.12 16:52:43 +05'30'
Bindu D Company Secretary
PURAVANKARA LIMITED
For Immediate Release Bengaluru, India November 12, 2021
Q2FY22 Sales at 0.91 msft, up 117% compared to Q1FY22 Q2FY22 Consolidated Revenue at INR 272 Crore, up 24% YoY EBITDA margin is at 38% at INR 104 Crore, up 29% YoY Profit Before Tax at INR 18 Crore up 232% YoY Profit After Tax at INR 12 Crore, up 224% YoY
Commenting on the company's performance, Ashish R Puravankara, Managing Director, Puravankara Limited, said, "The residential sector continues to witness strong demand on the back of India's economic revival, post the second wave of the pandemic. We see polarisation in demand among the top developers. With the steady rise in homeownership as an aspiration aided by low-interest rates, we are optimistic about the sector outlook.
Our consistent efforts to ensure business continuity and unmatched tech adoption have translated into sales. We expect this momentum to continue. In terms of financial metrics, we have performed substantially well during the half-year on all major parameters, i.e. revenue, EBIDTA and PAT being INR 814 Cr, INR 490 Cr and INR 166 Cr respectively. The nationwide vaccination efforts have also positively impacted the industry dynamics. Our strateqic digital transformation journey, strong market presence and financial discipline will help us deliver robust performance. We remain encouraged by the resilience that real-estate demand has demonstrated and are confident of achieving sustained growth in the financial year 2022.
In addition to this, we foresee a growing appetite for investments in our tech-savvy generation, paving the way for a new target demographic. Our collaboration with IBM to deploy SAP will help reinvent our business processes and fuel tech-led innovations. We are also developing a unique and industry-first app that will simplify and transform the customer experience.
Puravankara has always pioneered tectonic changes in the real estate industry and aims to set a precedence by building unique landmarks and community living of the highest standards. "
Operational Highlights for Q2FY22
- Area sold in Q2FY22 stood at 0.91 Msft up by 8%, compared to 0.84 Msft in the quarter ended Sept 30,2020
- Sales value stood at INR 597 crore up by 20%, compared to INR 495 crore ·n.-t"tm __ quarter ended Sept 30, 2020 ?':
- Average price realization stood atlNR 6,556, up by 11% YoY ~
PURAVANKARA LIMITED
Registered Office: #l30/1, Ulsoor Road, Bengaluru - 560 042 Tel: +91 80 2559 9000 14343 9999 Fax: + Email: [email protected] URL: www.puravankara.com CIN: L45200KA1986PLC051571
AN ISO 9001 COMPANY
Operational Highlights for H1FY22
- Area sold stood at 1.33 Msjt
- Sales value stood at INR 910 crore
Consolidated Financial Performance (As per INO-AS 115) for the quarter ended 30 September 2021
- Consolidated Revenues stood at INR 272 crores, up 24% YoY
- EBITDA stood at INR 104 crores with margins of 38%
- Profit before Tax (PBT) stood at INR 18 crores
- Profit After Tax (PAT) stood at INR 12 crores
Consolidated Financial Performance (As per INO-AS 115) for the half-year ended 30 September 2021
- Consolidated Revenues stood at INR 814 crores, up 98% YoY
- EBITDA stood at INR 490 crores with margins of 60%, up 232% YoY
- Profit before Tax (PBT) stood at INR 311 crores
- Profit After Tax (PAT) stood at INR 166 crores
Cash Flows
The balance collections from sold units in all launched projects stood at INR 1,986 crores as of 30 Sept 2021. The balance cost to go stood at INR 2,696 crores. Combined with the unsold receivables from launched projects of INR 4,515 crores, the projected operating surplus of INR 3,805 crores on the launched portfolio compares favourably against the current outstanding net debt of INR 1,860 crores as of 30 September 2021.
Debt
Our Debt-Equity Ratio has improved significantly at 0.90 as compared to 1.41 in the previous year, excluding project-specific NCD/OCD
The weighted average cost of debt is 11.30% as of 30 September 2021.
Credit Rating
ICRA has upgraded the long-term rating to [ICRA]A- with a stable outlook from [ICRA]BBB+ with a stable outlook. India Ratings and Research have upgraded the long-term rating from [IND] BBB+ to [IND] A- with a positive outlook.
| Investor Relations | Neeraj Gautam |
|---|---|
| Executive Vice President - Finance | |
| +91-80-4343-9794 | |
| [email protected] Email: |
|
| Media Relations | Minol Ajekar |
| Head - Corporate Communications | |
| +91-80-4343-9710 | |
| Email: [email protected] |
DISCLAIMER:
Some of the statements in this communication may be 'forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company's operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation and labour relations.
