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Dec 13, 2012, 03.18 PM IST | Source: Moneycontrol.com

Puravankara rises ahead of housing project launch

Shares of Puravankara Projects gained more than 1 percent on Thursday as the company is going to launch premium affordable housing project in Bengaluru that would generate Rs 2500 crore revenue, the company says.

Shares of Puravankara Projects gained more than 1 percent on Thursday as the company is going to launch premium affordable housing project in Bengaluru that would generate Rs 2500 crore revenue, the company says.

Provident Housing, a wholly owned subsidiary of the company, is set to launch residential township project - Provident Sunworth that is a 6 million square feet spread over 60 acres in Bengaluru.

The project encompasses 2 BHK units priced at Rs 29.75 lakh and 3 BHK priced at Rs 35.96 lakh, all inclusive, the company says.

Madhu V, managing director, Provident Housing adds, "The group's immediate expansion plans include launches in Managlore, Coimbatore, Hyderabad, Mysore and Chennai besides the addition of two more projects in Bangalore."

At 14:54 hours IST, the stock moved up 1.15 percent to Rs 97 on the Bombay Stock Exchange.

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