The company will raise funds by way of issuance of upto 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures bearing a face value of Rs 10 lakh each at par for an aggregate amount of up to Rs 300 crore in one or more tranches by way of private placement.
Puravankara, headquartered in Bengaluru, is one of India’s most admired and trusted real estate developers. The company has established three distinct and successful residential brands – Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs.
The company reported net loss of Rs 93.50 crore in Q3 FY25 as compared with net profit of Rs 78.01 crore in Q3 FY24. Revenue from operations declined 44.54% YoY to Rs 318.17 crore in Q3 FY25.
The counter shed 0.83% to settle at Rs 234.10 on the BSE.