Puravankara Limited

Puravankara Limited
Company typePublic
BSE: 532891
NSE: PURVA
IndustryReal estate & construction
Founded1975 (1975)
FounderRavi Puravankara
Area served
Worldwide
Key people
ProductsResidential, Commercial
Number of employees
2700+ (2021)
Websitewww.puravankara.com

Puravankara Limited is an Indian publicly-held real estate development company. It was established in 1975 by Ravi Puravankara and is headquartered in Bangalore. It operates in the residential and commercial sectors, having developed projects in Bengaluru, Chennai, Kochi, Coimbatore, Pune, Mumbai, Dubai and Colombo.[2][3]

History

Puravankara Limited was incorporated by Ravi Puravankara in 1975.

In March 2017, Hetero Group, acquired a 19-acre land along with a 100% equity stake in the companies from Puravankara Projects for Rs. 475 crore. In March 2017, The company's board passed a resolution to divest its investment in Raidurg Panamaktha Village, which is valued at Rs 403 crore.[4][5]

In January 2018, Puravankara Projects Ltd changed its name to Puravankara Ltd.[6]

In September 2019, Abhishek Kapoor was appointed chief operating officer and later promoted to the role of CEO in April 2019.[7]

In May 2025, Abhishek Kapoor stepped down, and Mallanna Sasalu was appointed as CEO South.[8]

Funding

In March 2011, Puravankara raised foreign direct investment from Keppel Corporation of Singapore.[9]

In April 2015, Puravankara received ₹82 crore (US$13 million) from ASK Group for its subsidiary, Provident Housing.[10]

In December 2020, Puravankara obtained a $76 million investment from International Finance Corporation (IFC) and IFC Emerging Asia Fund for its affordable housing projects under the housing brand Provident.[11][12]

In April 2022, Puravankara launched a fund of ₹750 crore to invest in affordable housing projects.[13]

In April 2024, Provident Housing received ₹1,150 crore investment from HDFC Capital.[14]

References

  1. ^ Khan, Sobia (2025-05-10). "Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns". The Economic Times. Retrieved 2025-06-10.
  2. ^ "Puravankara launches new project". The Hindu. 2011-03-29. Retrieved 2023-05-26.
  3. ^ Sapam, Bidya (2018-10-21). "Bengaluru's Puravankara re-enters Mumbai housing market". mint. Retrieved 2023-05-26.
  4. ^ Khan, Sobia (2017-03-29). "Puravankara sells 19 acre land in Hyderabad for Rs 475 crore". The Economic Times. Retrieved 2023-05-26.
  5. ^ "Bengaluru-Based Puravankara Sells Land In Hyderabad For Rs 475 Crore". NDTV.com. Retrieved 2023-05-26.
  6. ^ "Puravankara name change". www.thehindubusinessline.com. 2017-01-04. Retrieved 2023-05-26.
  7. ^ "Bengaluru-based Puravankara puts its legacy issues behind". Financial Express. 2022-04-26. Retrieved 2023-05-26.
  8. ^ Khan, Sobia (10 May 2025). "Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns". The Economic Times. Retrieved 23 June 2025.
  9. ^ "Puravankara launches new project". The Hindu. 2011-03-29. Retrieved 2023-05-26.
  10. ^ "Puravankara Projects rejigs top deck; Ashish Puravankara becomes MD & CEO". VCCircle. Retrieved 2023-05-26.
  11. ^ "IFC to invest in Puravankara group's affordable housing platform". mint. 2020-12-17. Retrieved 2023-05-26.
  12. ^ Nandy, Madhurima (2022-07-21). "Puravankara maiden fund raises ₹200 crore in first close". mint. Retrieved 2023-05-26.
  13. ^ Nandy, Madhurima (2022-04-20). "Puravankara launches ₹750 cr fund to invest in affordable housing projects". mint. Retrieved 2023-05-26.
  14. ^ "HDFC Capital invests ₹1,150 crore in Provident Housing". The Hindu. 25 April 2024. Retrieved 26 May 2025.
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