Puravankara Projects builds on robust Q3 outcome

Puravankara Projects builds on robust Q3 outcome

Puravankara Projects gained 1.51% to Rs 329.95 at 10:22 IST on BSE, on reporting 152.4% surge in net profit to Rs 56.50 crore in Q3 December 2007 over Q3 December 2006.

The results were announced after trading hours on Thursday, 31 January 2008.

Meanwhile, BSE Sensex was up 175.38 points or 0.99% to 17,824.09.

On BSE, 1,230 shares were traded in the counter. The scrip had an average daily volume of 31,021 shares in the past one quarter.

The stock hit a high of Rs 330 and a low of Rs 326 so far during the day. The stock had a 52-week high of Rs 535 on 13 December 2007 and a 52-week low of Rs 290 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month till 31 January 2008, declining 27.46% compared to the Sensex’s decline of 13.76%. It had also underperformed the market in the past one quarter, declining 25.83% compared to Sensex’s decline of 11.65%.

The company’s current equity is Rs 106.74 crore. Face value per share is Rs 5.

The current price of Rs 329.95 discounts its Q3 December 2007 annualized EPS of Rs 10.59, by a PE multiple of 31.16.

Puravankara Projects’ total income rose 78.5% to Rs 150.52 crore in Q3 December 2007 over Q3 December 2006.

In November 2007, the company won a bid to develop land near the Hi-tech city in Hyderabad.

The company is engaged in property development and construction.