Puravankara pushes Rs.3,000 cr in affordable units

    In a bid to make the most out of the emerging business scenario in the country’s real estate sector, Puravankara Ltd, a renowned realtor, plans to invest Rs.3,000 crore to take up construction of 15 million sq ft in the next four-five quarters, said, Managing Director, Ashish R Puravankara, detailing that out of the 15 million sqft, 10.3 million sqft will be for affordable housing under Provident and the balance (4.7 million sqft) under Puravankara brand in the upcoming fiscal. The land is from our land bank procured long back and the investment will flow through internal accruals from construction segment only in cities like Bengaluru, Chennai, Pune and Mumbai. Recently, it announced its Rs.600 crore project Provident Park Square at Judicial Layout, Kanakapura Road in Bengaluru where the project is being taken to market through an innovative Quasi Book Building method, where the price discovery process is driven by data from fundamental demand-supply metrics.
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