Latest news with #ProvidentHousingLimited
Business Standard
14-05-2025
- Business
- Business Standard
Puravankara's board to mull Rs 300-crore fundraise via NCDs
Puravankara announced that its board will meet on 16 May 2025, to consider raising Rs 300 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The company will raise funds by way of issuance of upto 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures bearing a face value of Rs 10 lakh each at par for an aggregate amount of up to Rs 300 crore in one or more tranches by way of private placement. Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The company reported net loss of Rs 93.50 crore in Q3 FY25 as compared with net profit of Rs 78.01 crore in Q3 FY24. Revenue from operations declined 44.54% YoY to Rs 318.17 crore in Q3 FY25. The counter shed 0.83% to settle at Rs 234.10 on the BSE.
Business Standard
14-05-2025
- Business
- Business Standard
Puravankara's board to mull fund- raising plan on 16 May
Puravankara announced that its board will meet on 16 May 2025, to consider raising Rs 300 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The company will raise funds by way of issuance of upto 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures bearing a face value of Rs 10 lakh each at par for an aggregate amount of up to Rs 300 crore in one or more tranches by way of private placement. Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The company reported net loss of Rs 93.50 crore in Q3 FY25 as compared with net profit of Rs 78.01 crore in Q3 FY24. Revenue from operations declined 44.54% YoY to Rs 318.17 crore in Q3 FY25. The counter shed 0.83% to settle at Rs 234.10 on the BSE.
Economic Times
10-05-2025
- Business
- Economic Times
Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a strategic leadership transition, Puravankara Ltd. , a real estate development firm, has appointed Mallanna Sasalu as CEO – South, subject to the approval of the Nomination & Remuneration Committee and the Board of Directors. This leadership change marks a new chapter for Puravankara as it strengthens its management to support its next phase of growth and announcement marks a key organizational shift as Abhishek Kapoor steps down from his position as CEO and Executive Director of the company. Sasalu, a seasoned industry veteran, brings with him over 32 years of extensive experience in engineering, architecture, and real estate development across India and Canada. He holds a Civil Engineering degree and is an alumnus of Harvard Business School, combining a strong academic foundation with decades of on-ground leadership experience.'Prior to this appointment, Sasalu has played a pivotal role in the growth and transformation of Provident Housing Limited, the mid-income housing arm of the Puravankara Group. Under his leadership, Provident scaled new heights in operational efficiency, customer engagement, and market expansion,' said a person aware of the appointment signals Puravankara's renewed focus on region-specific leadership to drive business performance, especially as the company ramps up projects across Mumbai, Bengaluru, Chennai, and Hyderabad. His prior success in delivering large-scale, community-focused housing projects aligns with the company's mission to address diverse homebuyer needs across market segments.'The transition is part of the company's broader strategy to strengthen its regional leadership, enhance operational agility, and build on its momentum in the South India market—its historical stronghold,' said another source aware of the over five decades ago, the Puravankara Group is headquartered in Bengaluru and has established itself as a leading player in the Indian real estate sector. The Group operates through three residential brands—Purva, Provident Housing Limited (PHL), and Purva Land—catering to premium, mid-income, and plotted development segments Group also owns Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary specializing in technology-enabled construction, and Purva Streaks, its interior design services division. As of December 31, 2024, Puravankara has completed over 85 projects spanning 51 million square feet across nine cities and holds a land bank of approximately 30 million square feet. Ongoing projects cover an additional 33.08 million square feet.
Time of India
10-05-2025
- Business
- Time of India
Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a strategic leadership transition, Puravankara Ltd. , a real estate development firm, has appointed Mallanna Sasalu as CEO – South, subject to the approval of the Nomination & Remuneration Committee and the Board of Directors. This leadership change marks a new chapter for Puravankara as it strengthens its management to support its next phase of growth and announcement marks a key organizational shift as Abhishek Kapoor steps down from his position as CEO and Executive Director of the company. Sasalu, a seasoned industry veteran, brings with him over 32 years of extensive experience in engineering, architecture, and real estate development across India and Canada. He holds a Civil Engineering degree and is an alumnus of Harvard Business School, combining a strong academic foundation with decades of on-ground leadership experience.'Prior to this appointment, Sasalu has played a pivotal role in the growth and transformation of Provident Housing Limited, the mid-income housing arm of the Puravankara Group. Under his leadership, Provident scaled new heights in operational efficiency, customer engagement, and market expansion,' said a person aware of the appointment signals Puravankara's renewed focus on region-specific leadership to drive business performance, especially as the company ramps up projects across Mumbai, Bengaluru, Chennai, and Hyderabad. His prior success in delivering large-scale, community-focused housing projects aligns with the company's mission to address diverse homebuyer needs across market segments.'The transition is part of the company's broader strategy to strengthen its regional leadership, enhance operational agility, and build on its momentum in the South India market—its historical stronghold,' said another source aware of the over five decades ago, the Puravankara Group is headquartered in Bengaluru and has established itself as a leading player in the Indian real estate sector. The Group operates through three residential brands—Purva, Provident Housing Limited (PHL), and Purva Land—catering to premium, mid-income, and plotted development segments Group also owns Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary specializing in technology-enabled construction, and Purva Streaks, its interior design services division. As of December 31, 2024, Puravankara has completed over 85 projects spanning 51 million square feet across nine cities and holds a land bank of approximately 30 million square feet. Ongoing projects cover an additional 33.08 million square feet.
Business Standard
02-05-2025
- Business
- Business Standard
Purvankara's board to mull fund-raising proposal on 6 May
Puravankara said that its board is scheduled to meet on 6 May 2025, to consider raising funds worth Rs 300 crore through issuance of non-convertible debentures (NCDs). The company will raise funds by way of issuance of upto 3,000 secured, redeemable, unlisted, unrated, non-convertible debentures bearing a face value of Rs 10 lakh each at par for an aggregate amount of up to Rs 300 crore in one or more tranches by way of a private placement basis or through any other permissible mode or any combination thereof. Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The counter shed 0.19% to end at Rs 234.10 on the BSE.
