Puravankara chalks plans for 13 realty projects worth ₹3,000-cr

Puravankara, a Bengaluru-based realty firm, has chalked out an expansion plan to start new housing projects involving an investment of ₹3,000 crore. The company is set to launch 13 projects in the current fiscal of which six are in Bengaluru, three in Mumbai, two in Pune and one each in Chennai and Kochi. Of these, ten are under a joint venture with land owners and three are owned by the company. In totality, the company will develop over 11 million sq ft of these 13 projects, of which 7 projects of 8.2 million sq ft will be under its Provident brand that caters to mid income customers. During the last fiscal, Puravankara sold 3,429 units worth ₹2,098 crore compared to 2,781 units for ₹1,881 crore in 2017-18. MD Ashish R Puravankara said that they are confident that FY19 will end on a positive note as the company is gaining market share and has a strong and sustainable growth rate.