+
Puravankara plans to develop 15 mn sq ft this year
Real Estate

Puravankara plans to develop 15 mn sq ft this year

Bengaluru-based real estate developer Puravankara Ltd plans to launch 15 million square feet by this financial year. Additionally, the company has lined up several new project launches across Bengaluru amid the festive season.

"We are across nine Indian cities today and want to scale up operation in all cities. A lot of new launches are expected in the third and fourth quarters. We plan to launch new projects in Bangalore, Chennai, Kochi, Coimbatore, Mumbai and Pune," Abhishek Kapoor, executive director and chief executive officer, said.

Among the launches, over 5 million sq ft of development will be done by Purvankara and its affordable housing wing Provident Housing. Around 4 million sq ft of development will be done by Purva Land, the company's plotted development wing.

According to a regulatory filing by the company, Puravankara achieved Rs 7.93 billion in of sales in the second quarter of this year, which is 33% higher than Q2 sales last year. The jump in sales was achieved along with a consistent increase in average price realisation. Average prices during Q2FY23 were up by 12% compared with average price realisation in Q2FY22. In the first half of the financial year, the company achieved a sale value of Rs 13.06 billion, up 43% compared to Rs 9.10 billion in H1FY22.

See also:
Mumbai property registrations rising after the Navratri boost
YEIDA proposes new land projects with a target of Rs 60,000 crore


Bengaluru-based real estate developer Puravankara Ltd plans to launch 15 million square feet by this financial year. Additionally, the company has lined up several new project launches across Bengaluru amid the festive season. We are across nine Indian cities today and want to scale up operation in all cities. A lot of new launches are expected in the third and fourth quarters. We plan to launch new projects in Bangalore, Chennai, Kochi, Coimbatore, Mumbai and Pune, Abhishek Kapoor, executive director and chief executive officer, said. Among the launches, over 5 million sq ft of development will be done by Purvankara and its affordable housing wing Provident Housing. Around 4 million sq ft of development will be done by Purva Land, the company's plotted development wing. According to a regulatory filing by the company, Puravankara achieved Rs 7.93 billion in of sales in the second quarter of this year, which is 33% higher than Q2 sales last year. The jump in sales was achieved along with a consistent increase in average price realisation. Average prices during Q2FY23 were up by 12% compared with average price realisation in Q2FY22. In the first half of the financial year, the company achieved a sale value of Rs 13.06 billion, up 43% compared to Rs 9.10 billion in H1FY22. See also: Mumbai property registrations rising after the Navratri boostYEIDA proposes new land projects with a target of Rs 60,000 crore

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code