The Bengaluru-based company will develop these three ultra luxury residential projects under a new brand 'WorldHome Collection'.
With a robust launch pipeline for the financial year, Puravankara said it has focused on strengthening its leadership team further in the last 12 months.
The estimated construction cost of these projects will be around Rs 3,000 crore.
Puravankara has hired industry veteran Vishal Mirchandani as Chief Business Officer - Commercial and Retail, to grow the business in this segment.
Strategically located in the established prime commercial hub of Yeshwantpur, the site is approximately 5 km northwest of Benguluru’s city centre.
Keppel Puravankara Development Pvt Ltd (KPDL), a joint venture between Puravankara and Keppel Land, has entered into agreements to acquire a prime 7.635 acres site in Yeshwantpur, Bangalore, from Metro Cash & Carry India Pvt Ltd (MCCIN), the realty firm said in a regulatory filing.
Revenues grew by 11 percent to Rs 394.7 crore during April-June period of the current fiscal as against Rs 355.26 crore in the corresponding period of the previous year.
Puravankara Ltd, a Bengaluru-based real estate company, has launched a resale assistance programme with benefits for registered users
Buoyed by healthy sales bookings of over Rs 1,100 crore till December in the current fiscal, the company has lined up launch of 15 new projects by March next year entailing an investment of about Rs 3,200 crore in construction, spread over the next five years.
The company had posted a net profit of Rs 22.38 crore during the same period of the previous fiscal, Puravankara Ltd said in a regulatory filing.
Investments of thousands of home buyers are stuck due to huge delays by Amrapali group in completion of projects, forcing them to protest and file legal cases in courts.
The Bengaluru-based developer also plans to launch 7-8 million sq ft area in 5 projects in 2017-18, its Managing Director Ashish R Puravankara said.
While developers in India have often been blamed for being stereotypical, to the extent that even the marketing brochures of identical projects are similar, some first movers are experimenting with innovative/disruptive marketing and with R
Realty firm Puravankara has sold a 19 acre land parcel in Hyderabad for Rs 475 crore to pharma company Hetero group as part of strategy to monetise assets and cut debt.
Rajesh Kothari Managing Director AlfAccurate Advisors believes the earnings growth for the market will be witnessed from the second half onwards, while the first half will be a low single-digit number.
Ambareesh Baliga, Independent Market Expert is of the view that one may prefer Godrej Properties, Sobha and Puravankara.
Realty firm Puravankara Ltd today reported 15 percent increase in its net profit at Rs 20.09 crore for the quarter ended December, even as its revenue declined.
The research agency said that while demonetisation would have a positive impact in the long run, it would "serious pinch'' the sector in the short term.