Realty firm Puravankara Ltd on Tuesday reported a 62 per cent annual growth in its sales bookings to Rs 2,136 crore during the September quarter on better demand for its residential properties.

In a regulatory filing, the company said its pre-sales rose to Rs 2,136 crore in the second quarter of this fiscal from Rs 1,322 crore in the year-ago period, PTI reported.

Sales area for the second quarter stood at 1.83 million square feet, up 22 per cent annually. Average price realisation increased 32 per cent annually to Rs 11,651 per square foot.

During the September quarter, Puravankara handed over 977 homes totalling 0.97 million sq ft, to customers.

In the first six months of this fiscal, the company has handed over 1,722 homes spanning 1.92 million sq ft. Ashish Puravankara, the company’s Managing Director, said, “Our focus is on scaling the business while maintaining discipline in pricing, capital deployment and execution.”

The performance supports the company’s strategy of investing in differentiated developments in markets having robust demand, he added.

Puravankara has completed 97 projects totalling 59 million sq ft across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.

Vantrock Real Assets to invest Rs 3,000 cr in 4 yrs to build logistics, warehousing parks

NEW DELHI: (Oct 13) Vantrock Real Assets will invest over Rs 3,000 crore over the next four years to develop industrial, logistics and warehousing parks across major cities, amid strong demand from light manufacturing, e-commerce and third-party logistics firms.

The Mumbai-based company, in a statement on Tuesday, said it would focus initially on warehousing, industrial and logistics parks. It aims to develop 11.5 million sq ft area over the next four years, representing a gross asset value of Rs 4,200 crore on completion.

The initial projects, covering 3 million sq ft, will be located in Delhi-NCR, Bengaluru and Pune. Later, the company will enter Mumbai Metropolitan Region (MMR).