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.