Puravankara plans 11 residential realty projects

The Bengaluru-based realty player Puravankara Group plans to launch 11 residential projects with a total saleable area of around 10.23 million sqft this fiscal. The company, which has already launched two projects in the first quarter of the fiscal, plans to launch a total of six projects under the Purvanakara luxury brand and five under the Provident affordable housing brand. MD Ashish Puravankara informed that despite the pandemic, there is a demand for projects that offer the right size, right price and right location, and the player is seeing a good response for that. The company is expecting a revenue of over ₹6,000 crore from these 11 projects with an average realization of ₹7,500 per sqft from Purvanakara projects (2.67 million sqft) and ₹5,500 per sqft from Provident projects (7.56 million sqft). The company has launched two projects, one each in Pune and Bengaluru, in the first quarter of the fiscal year through a digital platform, and will continue to keep up the momentum for at least the next few months.