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As On 11-Aug-2022 EOD, Market Closed
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  • Puravankara's subsidiary to debut in Kerala with its first residential offering

    Puravankara said that Provident Housing (PHL), a 100% subsidiary of Puravankara Group, will be debuting in Kerala with its first residential offering Provident Winworth in Kochi.

    The project value of the same is Rs 3000 crore. It is one of the four projects for which Provident has received an inflow of capital from the International Finance Corporatio... The project value of the same is Rs 3000 crore. It is one of the four projects for which Provident has received an inflow of capital from the International Finance Corporation (IFC) and the IFC Emerging Asia Fund. Over the last decade, Kochi has evolved into a highly desirable residential destination. The budding IT landscape, thriving commercial centres, and admiration for art and cinema have truly transformed the city into an urban utopia. The changes within the metropolis are evident in the aspirations of its residents. With its latest offering, Provident Housing aims to fulfil these emerging needs of the new‐age consumer.

    Ashish Puravankara, Managing Director, Puravankara Limited, said, “One of the driving forces behind Provident Housing is upending the notion that luxury and affordability are mutually exclusive. We are delighted to debut our first premium‐affordable offering of Kerala in Kochi. Over the last few years, we have witnessed the city scale its infrastructure and simultaneously position itself as a cultural capital.

    With this new venture, we aim to create a landmark in the city while providing an unmatched living experience for its residents.

    With Abhishek Kapoor, the CEO, Puravankara Limited and our newest leader, Mallanna Sasulu, the COO, Provident Housing Limited, I am confident that the project will be a tremendous success. I am excited to begin our new chapter in Kerala.”

    Abhishek Kapoor, CEO, Puravankara, said, “Provident Winworth is a balanced intersection of architectural value and the city's ambition. It will be the largest mixed‐use development in Edappally with retail and commercial elements, making it inclusive and accessible."

    The project will be introduced in the market through an innovative Quasi Book Building method. Fundamental ‘demand‐supply' metrics will drive the price discovery process. The pre‐booking process offers comprehensive product information to prospective buyers, along with a ‘price‐band' for each type of unit. Expressions of interest (EOI) from prospective buyers help gauge the project's demand and achieve a data‐driven pricing decision.

    Provident Housingvis one of the pioneers of premium, affordable homes. The company has Bengaluru, Hyderabad, Mumbai, Pune, Chennai, Kochi, Goa, Coimbatore and Mangalore projects. Puravankara is a real estate conglomerate headquartered in Bengaluru with a pan India presence.

    Puravankara's consolidated net profit declined 90.77% to Rs 1.23 crore on a 13.97% fall in sales to Rs 220.60 crore in Q3 FY22 over Q3 FY21.

    The scrip lost 0.12% to currently trade at Rs 123.20 on the BSE.



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Flash News 11-Aug-2022
  •  ( 14:33) Nifty hovers above 17,650; Fin. services shares rises  
  •  ( 13:37) Sensex spurts 455 pts, European shares advance  
  •  ( 13:19) PB Fintech net loss widens to Rs 204 crore in Q1  
  •  ( 13:02) Radico Khaitan Q1 PAT decline 3% YoY to Rs 58 cr  
  •  ( 12:21) Abbott India Q1 PAT rises 5% YoY to Rs 205 cr  
  •  ( 11:57) Oil India Q1 PAT soars to Rs 1,555 cr  
  •  ( 11:34) Indices trade with strong gains; Nifty hovers at 17,650  
  •  ( 10:58) Patanjali Foods Q1 PAT jumps 39% YoY to Rs 241 cr  
  •  ( 10:34) Barometers turn range bound; Nifty hovers above 17,650  
  •  ( 10:08) Coal India Q1 PAT zooms 179% to Rs 8,833 cr  
  •  ( 10:01) Mazagon Dock Q1 PAT soars 121% YoY to Rs 225 cr  
  •  ( 09:34) Indices open on firm note; Nifty above 17,650  
  •  ( 09:25) Market breadth was strong  
  •  ( 09:19) HEG Q1 PAT spurts 180% YoY to Rs 159 cr  
  •  ( 08:36) Asian stocks trading higher  
  •  ( 08:25) Wall Street soars as inflation falls more than expected in July  
  •  ( 07:53) Wipro launches cybersecurity offering for Australian govt  
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11 August 2022 00:00
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