PURAVANKARA
Puravankara aims to secure 20 million square feet of land by the end of the fiscal year
Puravankara's strategic plans include reducing net debt, optimizing debt costs, and utilizing its extensive land bank for future expansion and growth, as announced by the Group CEO. The company is focused on enhancing revenue from key markets like Bangalore and exploring new funding sources through AIFs, aligning with its goal of sustained growth and development.
Puravankara acquires a 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore
Real estate developer Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, for a luxury project, adding a potential GDV of over Rs 900 crore. With recent acquisitions in Mumbai, the group's total GDV is now Rs 1,550 crore. Strategically located near Electronics City, Hebbagodi is ideal for residential developments, catering to IT professionals. Puravankara plans to acquire 20 million sq ft of land by year-end for growth in Mumbai, Bangalore, and Delhi-NCR.
Stocks in news: L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, Wipro
Equity indices hit record levels on Thursday after lower-than-expected inflation hints at RBI interest rate cut. L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, NITCO, Wipro, Nalco, Suven Pharma, and MosChip Technology make significant moves. Adani Group-owned Ambuja Cement acquires Penna Cement at Rs 10,422 crore. Morgan Stanley buys 3.13 crore equity shares in L&T Finance.
Puravankara board approves Rs 1,000 cr fundraising plan via QIP mode
Puravankara's board sanctioned a fundraising initiative of Rs 1,000 crore through qualified institutional placement (QIP), to be conducted in one or multiple phases.
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
Properties worth Rs 1.17 lk cr sold by 18 listed realty firms in FY24; Godrej properties at top
Major real estate developers in India, including Godrej Properties, Prestige Estates Projects, and DLF, achieved significant sales bookings in the last fiscal year driven by strong demand for residential properties, especially luxury homes.
Puravankara acquires 12.75-acre land parcel on Thane’s Ghodbunder Road
Realty developer Puravankara's subsidiary, Purva Oak, acquired 12.75 acres in Thane's Patlipada for a premium residential project with an estimated potential of 18.20 lakh sq ft. The project, adding to Mumbai Metropolitan Region portfolio, has a potential gross development value of Rs 4,000 crores. Puravankara aims for strategic expansion and increased revenue contribution in the western region.
Puravankara Q4 Results: Loss narrows to Rs 7 crore YoY; revenue shoots up 112% YoY
The firm has launched 12 projects with a saleable area of 9.47 million square feet, reinforcing its expansion into high- potential micro-markets for the fourth quarter (Q4FY24) ending March 31, 2024.
Puravankara arm Provident Housing raises Rs 1,150 crore from HDFC Capital
Provident Housing secures Rs 1,150 crore from HDFC Capital Advisors for expansion. The collaboration aims to add 6.2 million sq ft, with a combined portfolio value of Rs 17,100 crores, focusing on delivering quality homes across various cities.
Puravankara set to redevelop 2.5-acre housing society in Mumbai’s Pali Hill
The project holds a cumulative estimated development potential of 4.10 lakh sq ft carpet area with over over 2.15 lakh sq ft available for sale with a potential Gross Development Value (GDV) of over Rs 2,000 crore.
In a steep fall from 400, only 25 smallcaps offer double-digit weekly returns
About 22 stocks, including HMA Agro Industries, Mangalam Cement, HEG, Hindustan Copper, Motilal Oswal, Hariom Pipe have offered returns between 10-20% during the week.
Piramal Enterprises invests over Rs 500 cr in Puravankara Projects
The investment encompasses a range of projects, spanning from commercial properties to residential ventures, reflecting a strategic collaboration aimed at bolstering real estate endeavours across multiple regions in India.
Puravankara records highest-ever annual sales value, customer collection in FY24
Bengaluru-based real estate developer Puravankara achieves record-high annual sales and customer collections in FY24, with sales reaching Rs 5,914 crores, a 90% increase, and customer collections rising by 60% to Rs 3,609 crores. The company attributes its success to operational dedication, customer trust, and successful new launches. Land acquisitions and redevelopment projects contribute to growth.
Sensex, Nifty end flat as RBI holds rates; realty stocks jump
Banks and real estate stocks benefitted from the central bank's rate freeze, while IT stocks fell on US rate cut uncertainty. BSE Sensex rose 20 points, NSE Nifty gained 11 points.
Turnaround story: 40 smallcaps that lost over 30% in FY23, turn multibaggers in FY24
The FY24 has been a turnaround year for smallcap stocks, witnessing a significant rally with many stocks turning multibaggers. However, concerns over valuations raised by Sebi might moderate returns in FY25. While equity bulls partied hard in most of FY24, the Securities and Exchange Board India (Sebi) turned a party spoiler towards the end.
Puravankara record Q3 sales of Rs 1,241 crore a 56% jump
Real estate firm Puravankara reported a sales value of Rs 1,241 crore for Q3FY24, a 52% YoY increase from the previous year. The company also recorded record customer collections of Rs 941 crores, a 52% YoY increase from Q3 FY23. In Q3FY24, the company achieved a sales value of Rs 3,967 crores, an 89% rise from the previous year.
Puravankara Group arm Provident Housing enters bridge-to-luxury residential segment
Provident Housing, a subsidiary of the Puravankara Group, is entering the bridge-to-luxury residential segment with its inaugural project in Bengaluru. The project, located on IVC Road, spans 15 acres and will feature 288 units priced at approximately Rs 1.9 crore per unit. Provident Housing plans to focus on large township projects, aiming for a portfolio mix of 75% mid-income and 25% bridge-to-luxury homes.
Puravankara acquires rights for 3-acre redevelopment project in Mumbai’s Andheri
The acquisition of these development rights marks Puravankara’s foray into the redevelopment business in the western region. The combined land parcel has a cumulative estimated development potential of 5.8 lakh sq ft carpet area, with around 3.65 lakh sq ft available for sale.
Puravankara reports record-breaking sales of Rs 1,600 crore for Q2 FY24
Sales volume for the quarter stood at 2.01 msft, up by 89% y-o-y, with a strong collection of Rs 879 crores (+70% Y-o-Y).
Load More
