PHL pushes ₹3,500-cr investment in housing sector
Provident currently contributes over 50% of the group's revenue and has seen its business grow by 14% y-o-y in Q3. In 2020, the IFC Emerging Asia Fund invested $76 million alongside Puravankara Group in its affordable housing projects in India. PHL has ventured into the Kochi property market with a 3.4 million sq ft development area. The project, which was funded by IFC, is expected to generate a sales value worth ₹3,000 crore. In the coming quarters, it will enter the Pune market and is looking for more opportunities in existing cities like Hyderabad and Bengaluru.