Puravankara arm to invest Rs 3,500 cr for expansion plan

22 Mar 2022 CW Team

Provident Housing Limited (PHL), a completely owned subsidiary of Puravankara, plans to infuse more than Rs 3,500 crore to develop its housing portfolio and venture into new cities over the coming five years.

The company is in the process of entering Mumbai and Pune in a proposal to double its residential portfolio to 20 million sq ft. It presently has a portfolio of 12.07 million sq ft. The renewed buyers' confidence has been instrumental in the recovery of the housing market in Q3 2021, which has registered good sales and launches in the last few quarters. They are not just entering newer cities but will also be aggressive in their development plans, as per Mallanna Sasalu, chief operating officer, PHL.

After a break in the second quarter of 2021 due to a resurgence in the Covid-19 pandemic and restrictions inflicted by several state governments, sales gained momentum during the third quarter as the economy picked up, helped by aggressive vaccination drives. Provident currently adds more than 50% of the group's income and has witnessed its business increase by 14% y-o-y in Q3. In 2020, the IFC Emerging Asia Fund infused $76 million alongside Puravankara Group in its affordable housing projects in India.

PHL has ventured into the Kochi property market with a 3.4 million sq ft development that is likely to produce a sales value of Rs 3,000 crore. The project was supported by IFC. In the coming quarter, they will enter the Pune market and aim for more opportunities in existing cities such as Hyderabad and Bengaluru.

Image Source

Also read: Puravankara to infuse Rs.15.5 bn to build 3 mn realty project in Kochi

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..