SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Puravankara Projects to sell three commercial properties to pay off debt

28 Dec 2011 Evaluate

In a bid to partly pay off its mounting debt, Puravankara Projects is planning to sell three commercial properties in Bangalore and Chennai for Rs 250 crore. In this regard, the company is in talks with information technology firms to sell 15 lakh sq ft built-to-suit plots and some people have shown interest. However, the company did not reveal the names of the potential buyers.

The company’s outstanding debt from banks and financial institutions is Rs 1,160 crore. Its net debt for the second quarter of fiscal year 2011 was at Rs 933 crore. The company's net sales for the quarter ended September 2011 stood at Rs 198 crore compared to Rs 154 crore in the fiscal year 2011. Its net profit for the second quarter of fiscal year 2012 was at Rs 26.5 crore, down 34% over the last year.

The company is trying to improve its operational cash flows and strengthening its balance sheet. For the September quarter of fiscal year 2012, sales volume decreased by 47% to 396 units compared to the same period last year. However, average realization grew 27% quarter on quarter.

Recently, the company had announced that it was in process of handing over one of Bengaluru’s largest residential enclaves, ‘Purva Highlands’ to its proud customers. Purva Highlands is spread over 17 acres in Kanakapura overlooking NICE road, with a development area of 2.5 million square feet, and ready-to-move in apartments.

Puravankara Share Price

222.25 5.40 (2.49%)
21-Apr-2026 13:27 View Price Chart
Peers
Company Name CMP
Lodha Developers 882.45
Dilip Buildcon 452.55
DLF 608.45
Oberoi Realty 1728.65
Ahluwalia Contract(I 864.20
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×