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Puravankara to invest Rs 3,000 cr in developing residential projects spanning over 14 mn sq ft in five years

The Bengaluru-based company also plans to launch its affordable homes brand, Provident, in the Mumbai Metropolitan Region (MMR) and Pune in the next few quarters. The move comes at a time when the commercial business is slowing down due to Covid-related impact, with many companies talking about permanently or partially shifting to the work-from-home model.

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Puravankara: Real estate demand fairly high, will be stable for next couple of years: Puravankara CEO

“A lot of real estate demand is getting skewed towards the listed, organised large players and that consolidation of the industry will continue. ”

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Puravankara consolidated net profit rises 2400 00% in the March 2021 quarter

Puravankara consolidated net profit rises 2400 00% in the March 2021 quarter
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Puravankara receives ratings action from ICRA

Puravankara announced that ICRA has maintained the previous rating and assigned a long-term rating of [ICRA] BBB+ and outlook has been improved to Positive from Stable and has maintained the previous short term rating of [ICRA] A2 for Rs.3,000 crore bank facilities of Puravankara. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on

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Re-entering Mumbai with ultra-luxury project boosts Puravankara

The announcement was made at the fag end of market hours yesterday, 9 March 2021. The stock is currently trading above its 50-day moving average (DMA) placed at Rs 82.82 and its 200-day moving average (DMA) placed at Rs 57.55. WorldHome Collection is the new range of ultra- Luxury homes by Puravankara. Through this project, the company aims to provide sustainable, futuristic and exclusive homes designed by world-renowned architects. Puravankara has invested almost Rs 450 crore with an expected top-line revenue of Rs 800 crore. The development will see four towers with a total of 233 residential unit and one tower of 79 commercial units. The last few months have witnessed a steady growth in the luxury housing segment, which is indicative of a shift in the post-pandemic consumer behaviour, Puravankara said. Leveraging this shift and latent demand, the company believes this is the right time to bring their ultra-luxury World Home Collection homes to Mumbai, it added.

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