Puravankara Projects Q3 (cons.) net doubles to Rs 631.15 mn

Quarter on quarter basis

Puravankara Projects, on consolidated basis registered 2.21 times rise of net profit for the quarter ended December 2007. During the quarter, net profit stood at Rs 631.15 million as against Rs 284.36 million in the quarter ended September 2006.

Total income rose 78.45% to Rs 1,505.25 million for the quarter ended December 2007 from Rs 843.48 million in the previous quarter same year.

On Standalone basis, Puravankara Projects, registered marginal rise in net profit for the quarter ended in December 2007. During the quarter, the company experienced a 4.86% rise in profits to Rs 565.03 million from Rs 538.81 million in the quarter ended September 2007.

Net sales and Total Income for the quarter rose 6.74% to Rs 1,505.25 million compared with Rs 1,410.08 million in the previous quarter of the present year.

The basic and diluted EPS after extraordinary item declined 1.11% to Rs 2.65 for the quarter ended December 2007 from Rs 2.68 for September 2007.

	Quarterly Standalone
	Dec 07	Sep 07	%Change
Total Sales	1,505.25	1,410.08	6.74
Net Profit	565.03	538.81	4.86
EPS	2.65	2.68	(1.11)

Highlights of quarter:

The company has won the tender bid from APIIC (Andhra Pradesh Industrial Infrastructure Corporation) for development of a massive project at the prestigious Hi-Tech city, Hyderabad, involving an investment of over Rs 35 billion. The company`s bid for the land deal was for Rs 6.30 billion.

Puravankara Projects announced to launch its mega housing project `Purva Windermere` at Pallikarnai, Lake district in Chennai with an estimated project cost of over Rs 12 billion.

The Business:

Puravankara Projects, is one of the leading real estate development companies in India with a focus on developing residential and commercial properties. The company has operations in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Colombo (Sri Lanka) and United Arab Emirates.

Shares of the company declined Rs 13.9 , or 3.86% to settle at Rs 346.00. The total volume of shares traded was 3,394 at the BSE.(Thursday ).