Puravankara Projects Q3 PAT up 11% at Rs 32 cr

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Puravankara Projects Q3 PAT up 11% at Rs 32 cr

Real estate developer Puravankara Projects reported a profit after tax of Rs 32 crore in the third quarter of FY12, a growth of 11% as compared to Rs 28.7 crore in a year ago quarter.

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Real estate developer Puravankara Projects reported a profit after tax of Rs 32 crore in the third quarter of FY12, a growth of 11% as compared to Rs 28.7 crore in a year ago quarter.

Net profit was benefited by prior tax credit of Rs 2.1 crore in the quarter while it hampered by net finance expense of Rs 1.2 crore versus net finance income at Rs 4 crore year-on-year.

EBITDA rose 21% to Rs 43.8 crore from Rs 36.2 crore and EBITDA margin too improved at 22.6% versus 20.9% during the same period.

Net sales of the company increased 12% YoY to Rs 194.1 crore in the October-December quarter of FY12.

Group has an extensive and considerable land bank of 125.17 msf across India

Puravankara has around 20 projects, totalling to 27 million sq ft at different stages of development in the south and in Kolkata