Puravankara to pump Rs 420 cr in two residential projects in Mumbai
Real Estate

Puravankara to pump Rs 420 cr in two residential projects in Mumbai

Real estate firm Puravankara Limited plans to invest Rs 420 crore in two residential construction projects in Mumbai and Bengaluru and target over Rs 1,250 crore sales revenue within the next four years from the rising housing demand.

The company launched two projects, Provident Palm Vista and Tivoli Hills, located in ShilPhata, Mumbai, having one million sq ft area, and in Devanahalli, Bengaluru, with a total area of 1.4 million sq ft, respectively.

CEO of Puravankara Limited, Abhishek Kapoor, told the media that the company would introduce affordable housing in Provident Palm Vista in Mumbai, and the project will be built on a Joint Development Agreement (JDA) model.

The economic interest of the company in Provident Palm Vista is about 69%. The company may sell its units at about Rs 40-80 lakh, Kapoor said.

The company is also launching a project in Bengaluru priced ranging from Rs 50 lakh to Rs 1.5 crore, where the demand has been greater across the country.

Kapoor said that the total estimate for the Bengaluru project is Rs 70 crore, and for the Mumbai project, the construction cost is Rs 350 crore.

He said that the company is planning to acquire more projects across India, including Bengaluru, Mumbai, Pune, Hyderabad and Chennai.

The company has already completed 74 projects of around 42 million sq ft area, and more than 22 million sq ft area of projects are under development. The total land bank of the company is nearly 65 million sq ft.

In FY22, the company plans to launch a 15 million sq ft area, with 7 million sq ft under Provident brand, 3.5 million sq ft under Puravankara and 4 million sq ft under Purva Land brand.

Image Source


Also read: Macrotech Developers signs 5 JDAs in H1 for Rs 4,500 cr projects

Real estate firm Puravankara Limited plans to invest Rs 420 crore in two residential construction projects in Mumbai and Bengaluru and target over Rs 1,250 crore sales revenue within the next four years from the rising housing demand. The company launched two projects, Provident Palm Vista and Tivoli Hills, located in ShilPhata, Mumbai, having one million sq ft area, and in Devanahalli, Bengaluru, with a total area of 1.4 million sq ft, respectively. CEO of Puravankara Limited, Abhishek Kapoor, told the media that the company would introduce affordable housing in Provident Palm Vista in Mumbai, and the project will be built on a Joint Development Agreement (JDA) model. The economic interest of the company in Provident Palm Vista is about 69%. The company may sell its units at about Rs 40-80 lakh, Kapoor said. The company is also launching a project in Bengaluru priced ranging from Rs 50 lakh to Rs 1.5 crore, where the demand has been greater across the country. Kapoor said that the total estimate for the Bengaluru project is Rs 70 crore, and for the Mumbai project, the construction cost is Rs 350 crore. He said that the company is planning to acquire more projects across India, including Bengaluru, Mumbai, Pune, Hyderabad and Chennai. The company has already completed 74 projects of around 42 million sq ft area, and more than 22 million sq ft area of projects are under development. The total land bank of the company is nearly 65 million sq ft. In FY22, the company plans to launch a 15 million sq ft area, with 7 million sq ft under Provident brand, 3.5 million sq ft under Puravankara and 4 million sq ft under Purva Land brand. Image SourceAlso read: Macrotech Developers signs 5 JDAs in H1 for Rs 4,500 cr projects

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?