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

18 Oct 2021 CW Team

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

Infrastructure Urban

12 Mar 2026

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..

PM Launches Rs 56 Billion Projects In Tiruchirappalli

"Prime Minister Narendra Modi visited Tiruchirappalli to inaugurate and dedicate multiple development projects covering infrastructure for clean energy, petroleum-related manufacturing, highways, railways and rural roads. The initiatives represent a combined investment of Rs 56 billion (Rs 56 bn) and are intended to expand energy access, improve connectivity and generate thousands of jobs for the youth of Tamil Nadu. Officials said the programme seeks to integrate regional growth with national development priorities.He laid the foundation stone for Bharat Petroleum's city gas distribution netw..

Prime Minister Launches Multiple Projects In Ernakulam, Keralam

"Prime Minister Narendra Modi visited the coastal city of Kochi to inaugurate and dedicate multiple developmental projects across Ernakulam, Keralam. He inaugurated and laid foundation stones for initiatives totalling approximately Rs110 billion (110 bn), aimed at accelerating regional development. The visit was presented as part of broader efforts to boost industry and connectivity in the state. Officials described the programme as a significant injection of infrastructure and economic support.The Prime Minister highlighted emerging opportunities in seaweed production and the promotion of mod..