Earlier this month, Puravankara in a business update said it clocked its best-ever annual sales in FY24, which has led to hopes of a stellar Q4 performance
Puravankara share price surged 10% to ₹324.30 per share, resulting in a 33.68% gain for the week, the largest weekly increase since November 2017. Yes Securities in its latest report has initiated coverage on the stock with a buy rating and set a target price of ₹452 apiece.
Yes Securities has initiated a ‘buy’ call on Puravankara with a target price of ₹452, indicating an upside of over 86 percent from its current market price of ₹242.60.
Bengaluru-based real estate developer Puravankara achieves record-high annual sales and customer collections in FY24, with sales reaching Rs 5,914 crores, a 90% increase, and customer collections rising by 60% to Rs 3,609 crores. The company attributes its success to operational dedication, customer trust, and successful new launches. Land acquisitions and redevelopment projects contribute to growth.