Puravankara elevates Abhishek Kapoor to Group CEO

Last year Puravankara did Rs 3,107 crore of business and opened 3 msf of inventory for sale out of 6 msf approved launches.

Listed real estate developer Puravankara has elevated Abhishek Kapoor, the CEO of Puravankara Ltd to the position of Group CEO of the company, according to a regulatory filing on September 5.

Currently, the company plans to launch 7.6 million square feet (msf) of residential development with a topline of about Rs 5,000 crore within FY24.

Last year Puravankara did Rs 3,107 crore of business and opened 3 msf of inventory for sale out of 6 msf approved launches. For the current financial year, Kapoor previously told Moneycontrol that it will be doubling the inventory open for sale.

The upcoming launches will be in Bengaluru, Hyderabad, Chennai, Pune and Mumbai, with the majority in Bengaluru.

By the end of this financial, he added that about 35 percent of launches will be in Bengaluru, 33 percent in Chennai, 19 percent in Kochi and the balance towards western parts of India.