Provident Housing set to launch 5 projects worth R$ 3,800 cr

The affordable housing division of Bengaluru-based Puravankara Limited, Provident Housing, is to begin construction on five projects totaling 5.8 million square feet this fiscal year, Chief Executive Mallanna Sasalu revealed in an exclusive interview on Wednesday. Although the five upcoming initiatives are expected to bring in a total of Rs 3,800 crore, Sasalu noted that the brand is hoping to generate an additional Rs 700–800 crore from previous launches. On August 19, ground will be broken on Provident Ecopolitan, the first of the five projects. The project will take up 11.25 acres in North Bengaluru's KIADB Aerospace Park on Bagalur Road. Five high-rise towers will house 1,262 apartments with an average size of 616 to 1,390 square feet apiece. The final four developments would be situated in Chennai, Kochi, East Bengaluru, and North Bengaluru. Sasalu anticipates that the five projects will be finished in 3-5 years.