Puravankara plans ₹1,100-cr realty projects in Bengaluru

Puravankara plans to invest around ₹1,100 crore to develop two new housing projects in Bengaluru as the company has decided to continue with previously planned projects despite the COVID-19 pandemic. Ashish R Puravankara, MD, informed that it launched the two projects on digital platforms and in the first project, Provident Woodfield, the company will develop 356 plots, mostly residential, on a 25-acre land parcel in Electronic City. The total investment in this project is around ₹80 crore and will be delivered by the end of 2023. In the second project, Purva Atmosphere, which is spread over 13 acres at Thanisandra, it will construct 939 units, priced at ₹95 lakh onwards. The two projects will be completed by March 2025 with an estimated investment of ₹1,000 crore. There is a steady rise in customer sentiment veering towards homes as their safe investment option, which has prompted the company to accelerate the process of the new launches.