PURVANKARA
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.
Budget stocks to buy: Over 50 promising ideas on investor radar across sectors
Finance Minister Nirmala Sitharaman resisted the lure of populist schemes in an election year but followed the fiscal deficit consolidation path by maintaining its investment-led spending growth strategy. Stocks from several sectors like tourism, housing finance, solar, rail, microfinance and auto will be key beneficiaries.
Budget throws spotlight on more than 50 stocks from 7 sectors
Within the confines of the available fiscal space, the government is channeling enough for capex which is almost 40% of the additional total outlay. This is being directed to roads, railways, and defence and it can have positive linkage effects with industries like steel, cement, capital goods etc, Way2Wealth said.
Huge wealth effect playing out in India; it is starting in capex, real estate: Sanjiv Bhasin
Sanjiv Bhasin of IIFL Securities, believes that the wealth effect is evident in capital goods and real estate, with companies like DLF and Godrej reaching new highs. He also highlights the strong performance of the real estate sector, particularly in companies like Purvankara and Brigade. Bhasin recommends cement stocks such as UltraTech, ACC, Ambuja, and Dalmia Bharat, as he believes they are bound to outperform due to price increases being passed on.
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Realty developer to rise 7%; pharma stock promises 4% gain
On a day when the RBI decided to keep its key rates unchanged for now, the NIFTY stayed in a defined range before ending the day on a negative note.
Here's why Mahantesh Sabarad is bullish on realty sector
So, the expectation is that most of the companies will start either showing moderated kind of growth but there will be quality in terms of earnings. So when I say moderated growth, I must clarify that would be on the top line but the quality of earnings in terms of margin improvements, et cetera, are going to be decent.
Nisus Finance invests over Rs 60 crore in EON Group's residential project in Mumbai's Prabhadevi
The project EON ONE spread over more than three-quarters of an acre near Siddhivinayak Temple involves redevelopment of an old housing society with rehabilitation of its existing 27 members.
Building resilience through technology in real estate
As per recent reports, 2022 may prove to be a more stable year for the sector for both commercial as well as residential sectors.
Purvankara plunges 9% as earnings fail to impress investors
In October-December, the company sold 690 units in the quarter as against 661 units in the corresponding period of the previous year, PTI’s report said, adding that in terms of value, the total sales bookings rose 17 per cent to Rs 666 crore in the quarter from Rs 570 crore in the year-ago period.
Dalmia Nisus Finance Investment Managers LLP successfully exits from project of Puravankara Limited
The Fund had invested in October 2020 and the exit comes at a time when many large NBFC’s and Banks are finding it difficult to exit from their loans to the real estate sector. The entire amount was repaid post Puravankara Ltd sold 100% of its stake in the subsidiary companies to a third party, as per their Exchange filing in Oct 2021.
Dalmia Nisus Finance exits from Puravankara’s Chennai project
Dalmia Nisus has had invested in the project through its Real Estate Credit Opportunities Fund – I (RECOF – I) in October 2020. The entire investment was repaid by Puravankara after it sold 100% of its stake in the subsidiary companies to a third party.
Biggest gainers & losers of the day: Goa Carbon zooms 20%, RBL Bank bleeds
Gains in IT and healthcare stocks capped the losses on monthly future and options expiry day. However, selling in banks and auto pushed indices lower.
Ahead of Market: 12 things that will decide stock action on Wednesday
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said that the Nifty50 has been taking support near the key hourly moving averages for the last few sessions and the same was observed on Tuesday as well.
4 realty stocks that will do well in coming quarters: Sudip Bandyopadhyay
Good quality and strong balance sheet companies like Oberoi Realty, Godrej Properties, Sobha and even Purvankara to some extent should continue to do well, says the Group Chairman of Inditrade Capital.
India Ratings assigns Jaganmata Property Developers’ proposed NCDs ‘Provisional IND BBB’; outlook positive
The rating agency believes the success of Jaganmata is a key strategic priority for Puravankara.
myGate raises Rs 16 crore in a round led by Prime Venture Partners
The company plans to use the funds to strengthen its technology platform and expand to cities like Pune, Hyderabad and Delhi-NCR in the next six months, said Vijay Arisetty, CEO & co-founder of myGate.
Sobha, Purvankara rise 2% each as firms mull developing luxury residential project
The project, Marina One, is planned in an area of 16.7 acres at the Marine Drive, Kochi, ET reported.
Snapdeal launches home buying sale from Oct 5, offers 10% discount among other freebies
The home buying sale will offer homes ranging from 1 BHK to 4 BHK, with prices ranging between Rs 30 lakh and Rs 5 crore, the company said in a statement.
Provident Housing partners Tata Projects for Kenworth
Anand Narayanan, President- Sales, Marketing and CRM, said the company expects Kenworth (to be developed in four phases) to be completed in 48 months. Nearly 500 units have already been sold in the first phase.
ET 500: Ability to differentiate between 'greed and need' makes Prestige a winner
When others went on a land-buying spree using borrowed money expecting real estate prices to keep going up, Prestige decided to stick to its business model.
Puravankara Q3 net profit doubles to Rs 64 cr
Puravankara Projects today reported doubling of consolidated net profit at Rs 64 crore for the quarter ended December, 2012.
Ramky Infra bags Rs 1,006-cr contracts
Ramky has bagged contracts worth Rs 1,006 crore in the civil works, water supply and residential township areas.
Buy Purvankara Projects for target of Rs 123: APTART
APTART Technical Services has advised traders to buy Purvankara Projects for target of Rs 123.
Worst behind us, good housing demand in coming quarters: Purvankara Projects
Ravi Ramu, Director, Purvankara Projects spoke with ET Now on demand revival in housing sector and how things are panning out for this company.
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