Puravankara’s Expansion: 2,000 Units and 2 Million Sq Ft Development by Q4FY24


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    Puravankara, a real estate company based in Bengaluru, aims to complete 2,000 housing units and develop over 2 million square feet of property by the end of the fourth quarter of the financial year 2024.

    They plan to achieve this by delivering homes and developing plots in cities like Bengaluru, Pune, Chennai, and Mumbai. The company has already handed over 1,405 units in the first nine months of the fiscal year 2024 and has seen good sales across its different segments.

    For future projects, Puravankara is eyeing locations such as Whitefield, Sarjapur, and Bellandur in Bengaluru, as well as areas outside Chennai, Pune, and Mumbai.

    In terms of pricing, the plots will range from Rs 18 lakh to Rs 90 lakh in Chennai and from Rs 80 lakh to Rs 1 crore in Bengaluru. Apartments will be available at prices ranging from Rs 65 lakh to Rs 1.2 crore in various cities.

    The company has also announced significant plotted developments in Bengaluru and Chennai and is actively engaged in redevelopment projects in Mumbai.

    Financially, Puravankara has reported a profit in the third quarter of the financial year, with a decrease in net debt compared to the previous quarter.

    They are expecting to receive occupancy certificates for four projects in the final quarter of the financial year.

    Overall, Puravankara is optimistic about maintaining its growth momentum in the upcoming financial year.

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