Puravankara up 6%, partners with 99acres portal for booking

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Moneycontrol Bureau

Shares of Puravankara Projects gained 5.8 percent intraday Tuesday after the realty portal partnered with real estate firm and its subsidiary for sale of homes.

"99acres.com, the real estate portal, partnered with Puravankara Projects and its subsidiary Provident Housing to offer online booking services for their homes," said the company in its filing to the exchange.

99acres.com entered into a strategic partnership for the first time to offer 3D floor plans and online booking to potential buyers. The offer called as "Greatest Online Christmas Offer" that started on December 21 and will open till December 27.

Puravankara listed two projects - Purva 270 and Provident Rays of Dawn, two of Bengaluru’s high-growth residential projects, for this offer.

Ashish Puravankara, Joint Managing Director of Puravankara Projects said, "Now for the first time on 99acres.com/Puravankara, we have used 'virtual 3D view' to help home buyers to explore, select and book homes online. Our strategy has been to reduce the typical anxiety that a consumer goes through while buying a home."

Bookings can be done at a nominal amount, said Hitesh Oberoi, MD and CEO Info Edge India (the owner of 99acres.com), adding to sweeten the deal and attract first-time online consumers, Puravankara and Provident offered attractive special prices on their homes and made the booking amount refundable.

At 14:45 hours IST, the stock was quoting at Rs 81.05, up Rs 2.15, or 2.72 percent on the BSE.

Posted by Sunil Shankar Matkar