Puravankara shares surged more than 12% on Wednesday after the Bengaluru-based real estate developer reported strong quarterly performance, breaking a five-day losing streak. The stock climbed as much as 12.40% to ₹258.60 following the release of its December quarter business update.

Strong Financial Performance in Q3

The company delivered impressive double-digit growth across key financial metrics during the December quarter:

The strong collections growth of 22% year-on-year underscores improving cash flows for the developer, even as broader real estate sentiment has remained mixed.

Delivery and Execution Momentum

During the December quarter, Puravankara successfully handed over 1.23 million square feet, delivering 1,116 homes to customers. For the first nine months of the year, the company achieved total deliveries of 2.58 million square feet across 2,446 homes, demonstrating steady execution momentum.

Major Land Acquisitions and Project Wins

Puravankara significantly expanded its land bank during the first nine months, adding more than 12.76 million square feet of potential developable area with an estimated gross development value of ₹13,900.00 crore. The acquisitions include:

• 53.50-acre land parcel in Anekal Taluk, Bengaluru
• Large-scale partnerships in North and East Bengaluru
• Redevelopment projects at Malabar Hill and Chembur

Adding to the positive momentum, the company's wholly owned subsidiary, Starworth Infrastructure and Construction Ltd., received a letter of intent for a significant residential project:

Stock Performance Context

Wednesday's rally provided relief for investors after the stock's recent underperformance. Despite the strong quarterly update driving the 12% surge, Puravankara shares remain under pressure over a longer horizon, having declined 25.20% over the past year. The sharp positive reaction to the Q3 business update represents a notable reversal for investors tracking the real estate sector.

Puravankara shares surged over 11% on Wednesday, January 14, following the company's robust third-quarter business update that showcased strong growth across key financial metrics. The real estate developer's stock hit an intraday high of ₹256.78, snapping a five-day losing streak.

Strong Financial Performance in Q3

The company delivered impressive financial results for the December quarter, demonstrating solid momentum across collections and sales metrics:

Delivery and Development Milestones

Puravankara maintained strong execution capabilities during the quarter, delivering 1,116 homes across 1.23 million square feet. For the first nine months of the fiscal year, the company has delivered a total of 2.58 million square feet encompassing 2,446 homes.

The company significantly expanded its land bank during the nine-month period, adding over 12.76 million square feet of potential developable area with an estimated gross development value (GDV) of ₹13,900 crore. These acquisitions include:

• 53.5-acre land parcel in Anekal Taluk, Bengaluru
• Large-scale partnerships in North and East Bengaluru
• Redevelopment projects at Malabar Hill and Chembur

Major Construction Order Win

Puravankara's wholly-owned subsidiary Starworth Infrastructure and Construction Ltd. received a significant boost with a letter of intent for a large residential project in Bengaluru. The details of this major contract include:

Market Performance

Despite the strong quarterly performance and recent gains, Puravankara shares have faced headwinds over the longer term, declining 25.2% in the past year. However, the latest business update appears to have restored investor confidence, with the stock breaking its recent losing streak and posting significant gains on the back of improved operational metrics and new order wins.