Puravankara Launches its First Theme Based Integrated Lifestyle District in Pune

Puravankara Projects has forayed back into the Western Region with a proposed development of 30 acres in Mundhwa, Pune.

Purva Silversands, the first phase of development across 20 acres is being launched as a unique Integrated Lifestyle District with a design theme that the city of Pune has hitherto not seen before, the company said in a statement.

Purva Silversands is set on the Mula-Mutha river promenade, right across the business district of Kharadi. The proposed new bridge connecting Kharadi and Mundhwa will help de-congest the traffic and shorten the travel time to Purva Silversands in Mundhwa. The 15km elevated corridor 2 of the Pune Metro Phase 1, will also lead Mundhwa to easy connectivity with the key nodes of the city.

Ravi Puravankara, Chairman, Puravankara Projects Ltd. said: "Our foray back into the Western Region is a 'Home Coming' for us. We aspire to make a difference in the western cities with our unique theme-based projects that offer a lifestyle living. Our first project Purva Silversands is planned in the city of Pune, which is ranked amongst the 50 fastest growing urban cities in the world. A thriving job market, high rental growth and the Government's thrust on improving infrastructure makes Pune a very promising market, with an immense need for high quality homes."

Ashish Puravankara, Managing Director, Puravankara Projects Ltd commented, "Our intelligent designs focuses on spacious well-crafted apartments set in an Integrated Lifestyle District. Situated in eastern Pune, Mundhwa has been strategically chosen for this project as it is emerging as a prime residential location for the business district of Kharadi. Mundhwa has a judicial mix of residential, business, leisure and support services. Upcoming infrastructural developments have given the required impetus, for real estate in this region to flourish."

This unique property offers a variety of lifestyle residential apartments - 1, 2, 3, 4 BHK apartments, penthouses, garden apartments, along with a cafés, restaurants and boutique shopping overlooking the river promenade amidst lush landscapes.

Purva Silversands is an iconic residential development with the best-in-class facilities, providing a resort type lifestyle to homebuyers in Pune. The project has been designed to bring the beach to their doorsteps, with a promise to experience 'Life like it's a holiday'.

Fine luxurious homes around a sprawling manmade lagoon with a wave pool, snorkelling pool, koi pond, hammocks, palm trees combined with cafes, restaurants and boutique shopping make Purva Silversands a unique lifestyle destination, and one of the most attractive investment opportunities in the region.

Provident Housing Launches Phase 1 of Kenworth Integrated Lifestyle Homes in Hyderabad

Provident Housing Ltd., a wholly-owned subsidiary of Puravankara Group and one of the leading real estate developers in the premium affordable housing segment, has announced the launch of Phase 1 of Kenworth lifestyle apartments at PVNR Expressway, Rajendra Nagar in Hyderabad.

Set to change the face of premium affordable housing in Hyderabad, Kenworth is an Integrated Lifestyle District providing a holistic living experience for the evolved home buyer, with fine homes, cafes, boutique shopping and smart offices within a single large campus.

Kenworth is also a unique theme-based project with all its amenities inspired by Art and Sports. The 20 acre Integrated Lifestyle District has a plethora of child development activities and the entire ecosystem has been designed to tap the budding talent among the children of today. The project offers over 21 beginners sporting facilities ranging from athletics, boxing, archery, kabaddi, badminton, mini-hockey, mini-football, volleyball, basketball, squash, table tennis, aerobics and many more.

It also provides for a Culture Club to infuse culture and experiential learning-based amenities for children, which include a mini-music studio and tinkering rooms for the inquisitive children residing in the project. The project shall have 2 and 3 BHKs along with a limited number of Kings league 4 BHK signature units, all at an expected price range of between Rs 37 lakhs to Rs 90 lakhs.

Ashish Puravankara, Managing Director, Puravankara Projects Ltd. commented, "We are glad to offer Kenworth by Provident as an Integrated Lifestyle District that will be symbolic of 'Wholesome Living'. The introduction of the Book Building process will help customers ascertain a fair price, in a transparent manner. We envisage that this project will overwhelm buyers with its high-quality design, finishes, features and yet, be

affordable to all.”

He further stated that, “The magnificent facilities will unequivocally put the required thrust on children to hone their skills and provide a foundation for his/her dreams to turn to reality. This project will be one of the largest residential launches of recent times in Hyderabad.

Located in the high growth PVNR Airport Expressway along with an attractive initial pricing, Kenworth forms one of the most attractive real estate investment opportunities in Hyderabad.

Provident, for the very first time in Hyderabad, has introduced the innovative Book Building process, which enables prospective customers to subscribe during the pre-launch of Kenworth through an expression of interest within a price range set by the developer.

The actual opening price for Kenworth by Provident would emerge from the inherent market determined forces of demand and supply. This transparent price discovery mechanism, also called as the EOI process, has been oversubscribed by over 2.3 times in a short period, the company said in a release.

The final launch price is expected to be announced soon to buyers, who have expressed interest in buying Kenworth by Provident. This reinforces the resurgent Hyderabad residential market and more specifically, the interest from buyers for high-quality projects from reputed Grade A real estate developers, such as Provident, a Puravankara company.

Puravankara posts robust growth in Q4

Beating all negative sentiments rocking the real estate sector in India, Bangalore-based real estate developer Puravankara Projects has announced that their consolidated net profit grew by 71 percent year-on-year to Rs 78.7 crore in the fourth quarter of financial year 2012-13.

The consolidated total income of the company rose by 79 per cent to Rs 415 crore from Rs 232 crore during the same period, according to company statement.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 49 per cent Year-on-year to Rs 178 crore in January-March quarter.

However, EBITDA margin fell quite significantly to 43 percent versus 51.5 percent YoY.

The share rallied 6.5 per cent to Rs 104.25 amid heavy volumes on Bombay Stock Exchange and went up 10 percent higher intraday.

Trading volumes increased 164 per cent to 298125 equity shares as compared to its five-day average of 1,12,848 shares, according to a Moneycontrol estimate.

Purvankara's first half profit zooms to Rs 100 crore

Puravankara Projects, a leading real estate developer in India, on Wednesday said its consolidated net profit after tax for the first half of this fiscal has increased by 74% to Rs 100 crores compared to Rs 58 crores the company had achieved in the corresponding period last year.  

The revenue went up to 34% to register Rs 522 crores in the first half from Rs 389 crores in the corresponding period last fiscal, the company said in a statement.

The second quarter result was also made available, which showed 89 per cent growth in net profit compared to second quarter of previous year.

Commenting on the strong results, Ravi Puravankara, Chairman and Managing Director, Puravankara Projects, said, “We experienced strong sales momentum in both new and completed projects this quarter.”

Reflecting on the industry, Puravankara added, “Despite macro-economic challenges of high inflation, rising fiscal deficit and sluggish GDP growth, we expect the industry to perform well in the coming quarters due to recent policy reforms announced by the government, such as CRR reductions and liberalization of FDI norms.”

The company also recorded a 38% increase in consolidated revenues, posting Rs 274 crores in the quarter-ended September 30, 2012 compared to Rs 198 crores in the quarter-ended September 30, 2011. The sales value for the quarter too zoomed to Rs 2,346 million, representing an 18% increase against Rs 1,994 million in the last year’s corresponding quarter.

Contribution from ready-to-move-in inventory from Purva Venezia, Purva Highlands and other projects in the Puravankara portfolio, has been very good and we expect the momentum to continue, the company said, adding, “Provident Welworth City and Provident Harmony are doing extremely well as evidenced in absorption levels and sales realisation figures. We will be ramping up sales velocity as the projects draw to a completion.”

Puravankara has launched an ultra-luxury project, Purva Whitehall at Sarjapura, off Outer Ring Road, Bengaluru in October this year and has sold 35% of the total inventory with sizes ranging between 1900-2500 sq ft.