Track2Realty: Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. This gargantuan project, ‘Provident Sunworth’, is a 6 million square feet project spread over 60 acres , strategically located off Mysore Road near the NICE ring road junction in Bengaluru, within driving distance from Electronics city, Industrial hubs and the IT corridor.
Can meat & eggs offered to God resolve realty crisis? Well, the real estate community in Coimbatore thinks so. More than 1000 members of the real estate sector, including key promoters, sought diving intervention on Wednesday, Sep 5, to bail them out of the crisis they were in, caused by decreasing demand and prices.
Some developers believe in the age when everybody is constantly looking forward to upgrade, luxury residences should not be seen just in the premium super category. As a matter of fact, Purvankara has successfully initiated the concept of luxury affordable as well. According to him there is no dearth of buyers; rather the challenge is for the developers to execute a luxe living.
Bangalore-based real estate developer Puravankara Projects net profit rose 173 per cent to Rs 46.05 crore during the fourth quarter of the last fiscal.
Last year, net profit stood at Rs 20.89 crore during the corresponding quarter.
Real estate companies reeling under the bad debt and falling sales graph are expected to record yet another bearish quarterly results with most of the listed companies’ shares already in the red. Listed real estate companies represented by the Realty Index on BSE have witnessed a fall of 1.7 per cent over the past one month.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
In view of the farmers agitation in Greater Noida, the surface transport ministry is learnt to have taken a u-turn from its earlier stand of facilitating land acquisition for both infrastructure development and real estate projects.
Budget housing is fast becoming big business with more and more real estate companies trying to please the masses with pocket-friendly offerings.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.