Affordable housing space has huge potential, says Puravankara

In the special series of 'The outperformers of 2017' CNBC-TV18 will be getting you companies that have been star performers this year and Puravankara is one such company that is up over 300 percent this year.

In an interview to CNBC-TV18, Ashish Puravankara, MD of Puravankara spoke about the latest happenings in his company, affordable housing segment and gave the geographical break-up.

Our first few projects were in Mumbai and then focus shifted to south India over the years, said Puravankara.

South India currently accounts for 90 percent of sales, he added.

He further said that we are in the process of launching projects in Pune and Mumbai. Therefore, dependence on south India is likely to reduce from 90 percent to 75-80 percent.

According to him, affordable housing space has a huge potential.

We launched our affordable housing segment ‘Provident Housing’ in 2007, he said.

We are expecting launches of 10.3 million square feet in 12-15 months in affordable housing, he added.

He further mentioned that affordable housing segment accounts for 44 percent of revenue.

Provident Housing's contribution will increase in next two-three years, Puravankara added.

Watch accompanying video for more details.