Puravankara Q4 net zooms over two-fold at Rs 46.05 crores

BANGALORE: Real-estate developer Puravankara Group reported an over two-fold jump in consolidated net profit at Rs 46.05 crore for the fourth quarter ended March 31, 2012.

The city-headquartered company's revenues during the quarter grew by 49 per cent to Rs 232.11 crore.

The board of the company has recommended a dividend of 20 per cent.

Revenues for 2011-12 were up 36 per cent at Rs 815.46 crore, while net profit rose by 15 per cent to Rs 135.73 crore.

Sales realisation for the Group in the year was Rs 3,930 per sq ft against Rs 3,303 per sq ft in the previous fiscal.

"We expect 2012-13 to offer a more conducive environment in terms of the various growth indicators and believe that absorption levels will increase," Chairman and Managing Director Ravi Puravankara said.

The company said it has done well both in the luxury and premium affordable segments and has maintained margins both at the gross and PBT levels.