Latest news with #PuravankaraLtd
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Business Standard
12-05-2025
- Business
- Business Standard
Here's why Puravankara share price soared 10% on May 12; details
Puravankara share price: Real estate player Puravankara shares were in demand on Monday, May 12, 2025, with the scrip rallying up to 9.74 per cent, to an intraday high of ₹241 per share. At 9:19 AM, Puravankara share was trading 9.29 per cent higher at ₹240. In comparison, BSE Sensex was trading 2.20 per cent higher at 81,199.73 levels. Catch Stock Market Updates Today LIVE What triggered the rally in Puravankara share price? The uptick in Puravankara share price came after the company announced a joint venture (JV) with KVN Property Holdings LLP, to develop a 24.59-acre land parcel in North Bengaluru. The project's estimated Gross Development Value (GDV) is in excess of ₹3,300 crore, Puravankara said in a statement. The land parcel has a total saleable area of approximately 3.48 million sq. ft., and the project is expected to be launched in the next six months. 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction. The scale, location, and partnership model of this project position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers. It aligns with our broader vision of creating high-quality, community-focused housing across emerging corridors,' said Ashish Puravankara, managing director, Puravankara. Leadership changes The company has announced the appointment of Mallanna Sasalu as CEO, Puravankara Ltd – South, subject to the approval of the Nomination & Remuneration Committee and Board of Directors of the Company. Furthermore, Abhishek Kapoor has resigned from the position of CEO and executive director of the company. ALSO READ | Will Sensex, Nifty rise or fall this week? Key levels to track About Puravankara Puravankara Group, headquartered in Bengaluru, is a real estate developer with a strong pan-India presence. Over the last five decades, it has launched three residential brands—Purva, Provident Housing, and Purva Land—to serve diverse housing needs. Its subsidiary, Starworth Infrastructure, delivers tech-driven construction solutions, while Purva Streaks offers integrated interior design services. The group has also entered the Grade-A commercial real estate space with ~3 million sq. ft. under development. As of December 31, 2024, Puravankara has completed over 85 projects spanning ~51 million sq. ft. across nine cities, with a land bank of ~30 million sq. ft. and ongoing projects totaling 33.08 million sq. ft.
The Print
11-05-2025
- Business
- The Print
KVN Property, Puravankara to jointly develop Rs 3,300 cr worth housing project in Bengaluru
In a statement on Saturday, KVN Property has entered a joint venture with the Puravankara Group to develop a 24.59-acre land parcel in North Bengaluru. KVN Property has been founded by Venkat K Narayana, former CEO of Prestige Group. Bengaluru, May 10 (PTI) Realty firm KVN Property Holdings LLP has tied up with Puravankara Ltd to jointly develop a housing project in North Bengaluru with a total revenue potential of more than Rs 3,300 crore. The project has a projected Gross Development Value (GDV) of over Rs 3,300 crore. The project has a potential saleable area of about 3.48 million (34.8 lakh) sq ft. The project is slated for launch within the next six months. Ashish Puravankara, Managing Director, Puravankara Ltd, said, 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction.' KVN Properties Promoter Venkat K Narayana said, 'As an integrated land aggregation platform, our core strength lies in identifying and consolidating strategic land parcels across high-growth corridors. This JV, for our 24.59 acres of land with Purvankara in a high-growth corridor has huge demand for mid-income residential housing and we believe that Purvankara's development expertise along with their marketing and delivery capabilities would bring life to this land'. Narayana said his company's model is designed to address structural inefficiencies in India's real estate sector, particularly those related to land acquisition. 'By focusing on aggregating clean, contiguous, and development-ready parcels, KVN aims to accelerate project timelines and minimise risks for its developer partners,' he said. As of December 31, 2024, Puravankara has completed more than 85 projects measuring around 51 million sq ft across nine cities — Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is around 30 million sq ft, and ongoing projects add up to 33.08 million sq ft. PTI MJH TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Abhishek Kapoor tenders resignation as Group CEO from Puravankara Group, Mallanna Sasalu appointed as CEO-South
Bengaluru-based real estate developer Puravankara Group has announced that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation. The company also announced the appointment of Mallanna Sasalu AS CEO-South. The company in its regulatory filing said that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation effective from the closure of business hours on May 9, 2025. The company in the regulatory filing added that Mallanna Sasalu has been appointed as the CEO-South, with effect from May 9, 2025, subject to the approval of the nomination and remuneration committee and Board of Directors in its forthcoming meeƟngs, respectively. According to the company, Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. Also Read: Puravankara Ltd in advanced stages of discussion for redevelopment of 3-4 housing societies in Mumbai: Group CEO Sasalu holds a degree in Civil Engineering and is an alumnus of Harvard Business School, adding a strong academic foundation to his diverse professional expertise, the company said. Currently, Sasalu has been instrumental in scaling Provident Housing Ltd. to new heights. The company said in a statement that his strategic leadership and operational expertise have positioned him as a pivotal figure in the organisation's growth and success. On May 9, the company also announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru. According to a statement issued by the company, the project has an estimated gross development value of ₹3,300 crore. Also Read: Puravankara Group announces 24.59-acre joint venture project in North Bengaluru, having ₹3,300 crore potential According to the company, the land parcel has a total saleable area of approximately 3.48 million sq ft, and the project is expected to be launched in the next six months.
