Puravankara elevates Abhishek Kapoor as group CEO

Bengaluru-based real estate company Puravankara Limited elevated Abhishek Kapoor, CEO of Puravankara Ltd, to the position of group CEO. The stock rose by 1.17 per cent on the NSE, trading at ₹111.95.

“Our work will continue towards executing the strategic roadmap to achieve our growth targets for the brand. With a focus on innovation, customer-centricity, and sustainable development, we will continue to deliver superior results and create value for all stakeholders,” said Kapoor.

In Q1 FY24, it reported a net loss of ₹17 crore against a profit of ₹35 crore in Q1 FY23, while its quarter-one revenues from projects grew by 50 per cent year-on-year to ₹323 crore, according to the company’s earnings call. The EBITDA for the same quarter was ₹75 crore, which is a 22 per cent EBITDA margin.