IFC, EAF to invest Rs 556 cr in Puravankara’s housing project

21 Dec 2020 Editorial Team

Emerging Asia Fund (EAF) and the International Finance Corporation (IFC) will invest $76 million (approximately Rs 556 crore) in provident, the residential project of the Puravankara’s affordable housing arm. On Thursday, the Bengaluru-based developer announced that the investment would cover four housing projects in Bengaluru and Kochi.

With a saleable area of 4.5 million sq. ft., the two projects in Bangalore and Kochi will see the development of around 4,000 housing units in the next five to seven years. The other two projects will be announced in 2021.

EAF and IFC will invest in the Special Purpose Vehicles (SPV) set up by Puravankara. IFC will invest around Rs 240 crore (around $33 million), and the investment will be matched by the EAF, bringing the total up to $66 million. The rest of the amount (approximately $10 million) will be taken as a loan from the IFC.

Real Estate

10 Nov 2025

Godrej Interio Powers Kerala Metro Projects

Interio by Godrej, a flagship furniture and turnkey solutions brand from the Godrej Enterprises Group, has expanded its presence in Kerala’s infrastructure development landscape by securing and executing projects worth more than ₹90 crore in Kochi. The portfolio includes a Rs 690 million Electrical & Mechanical (E&MVAC) work order from Kochi Metro Rail (KMRL) for Phase 2 of the Kochi Metro, along with the successful completion of a Rs 240 million design-and-build project for Kerala State Information Technology Infrastructure (KSITIL) at Kochi’s Infopark.Speaking on the milestone,..

Godrej Interio Powers Kerala Metro Projects

Interio by Godrej, a flagship furniture and turnkey solutions brand from the Godrej Enterprises Group, has expanded its presence in Kerala’s infrastructure development landscape by securing and executing projects worth more than ₹90 crore in Kochi. The portfolio includes a Rs 690 million Electrical & Mechanical (E&MVAC) work order from Kochi Metro Rail (KMRL) for Phase 2 of the Kochi Metro, along with the successful completion of a Rs 240 million design-and-build project for Kerala State Information Technology Infrastructure (KSITIL) at Kochi’s Infopark.Speaking on the milestone,..

Gartner Recognises Newgen as Niche Player

Newgen Software, a global provider of AI-enabled end-to-end automation solutions, announced that it has been recognized as a Niche Player in the 2025 Gartner® Magic Quadrant™ for Business Orchestration and Automation Technologies (BOAT). The recognition reflects Newgen’s ability to execute and the completeness of its strategic vision.The Gartner report evaluated 20 global vendors to guide enterprises in selecting the right business process automation platform. According to Gartner, BOAT is a unified software platform that enables enterprise-wide automation through capabilities such as pro..