Provident Housing Ltd (PHL) has decided to launch five projects across 6.3 mn sq ft of land parcels in Bengaluru, Chennai and Pune involving an investment of ₹3,500 crore. COO, Mallanna Sasalu, informed that the company has launched two projects in FY22, Provident Winworth in Kochi and Provident Palm Vista in Mumbai, with a top line of ₹568 crore. It has also planned to complete 1.9 mn sq ft of development in Bengaluru this fiscal.
In the next fiscal, PHL plans new launches in two locations, KIADB Hardware Park and IVC Road in North Bengaluru and has five ongoing projects in the city—Provident Capella on Soukya Road, Provident Equinox near Mysore Road, Provident Neora in Sampigehalli, Provident Park Square in Judicial Layout and Tivoli Hills, a plotted development project in Devanahalli. During the next financial year, PHL plans to complete 3,000 units across nine cities of which 70 percent of units, i.e., 2,100 units will be in Bengaluru. The other cities are Hyderabad, Mangaluru, Kochi, Coimbatore, Goa, Chennai, Mumbai and Pune.