Puravankara Restricted introduced that the board of administrators will meet on Tuesday, 6 Could, to overview a proposal to fund as much as Rs 300 crore via personal placement problem of secured, redeemable, unlisted, and unrated non-convertible debentures (NCDs).
The corporate desires to problem as much as 3,000 NCDs at Rs 10 lakh apiece. The financing will likely be achieved in a number of tranches in compliance with the related provisions of the Corporations Act of 2013 and associated guidelines, equivalent to these governing share capital and debenture issuance.
Puravankara famous that the fund-raising request if authorised, will likely be topic to all related regulatory and statutory permissions. The board will choose the phrases and construction of the difficulty.
Puravankara introduced that buyer collections for the quarter ending 31 December 2024 elevated by 6% yr over yr (YoY) to Rs 993 crore from Rs 941 crore throughout the identical time the earlier yr. The quarter’s gross sales of Rs 1,265 crore represented a 2% YoY development over Q3FY24’s gross sales of Rs 1,241 crore.
The corporate’s buyer collections climbed 19% to Rs 2,991 crore from Rs 2,515 crore in 9MFY24. Throughout Q3FY25, the typical value realisation elevated by 16% YoY to Rs 8,848 per sq ft from Rs 7,621 per sq ft the earlier yr.
Puravankara spent about Rs 1,100 crore on land acquisitions in FY25, leading to a possible gross improvement worth (GDV) of Rs 10,500 crore. The corporate has not too long ago acquired a mission on Kanakapura Street in Bengaluru.
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