Puravankara arm receives Rs 2 bn commitments from investors

25 Jul 2022 CW Team

Purva Asset Management Pvt Ltd, a subsidiary of real estate firm Puravankara, has received commitments of around Rs 2 billion from investors, marking the first close of its maiden alternative investment fund (AIF-II), launched with a target corpus of Rs 7.50 billion. domestic ultra-high net worth individuals and family offices form the bulk of the initial commitment.

"The target is to raise the entire corpus for the fund by September 2022. The fund will create a significant pool of capital via the AIF route for growth by creating a win-win scenario for investors and Puravankara," said Ashish Puravankara, managing director of Puravankara.

The Category II AIF Purva Real Estate Fund, which recently got the mandatory approval from the Securities and Exchange Board of India, will be managed by Purva Asset Management. The first fund scheme is called ‘Purva Residential Excellence Fund-1’.

The fund will invest in a mix of plotted and residential developments under the ‘Purva Land’ and ‘Provident’ brands across – Bangalore, Pune, Chennai, Hyderabad, and the Mumbai Metropolitan Region. It will also invest in 6-8 mid-sized projects of Provident Housing. Puravankara is a sponsor of the fund, and the two parties will co-invest in projects and acquire land parcels.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..