Puravankara Limited
Puravankara Limited is one of India’s most prominent publicly-listed real estate development companies. Founded in 1975 by Ravi Puravankara, the company is headquartered in Bangalore and operates across both residential and commercial sectors. Over the years, Puravankara has made its mark in key Indian cities, including Bengaluru, Chennai, Kochi, Coimbatore, Pune, and Mumbai. Beyond Indian borders, the company has successfully ventured into international markets with projects in Dubai and Colombo.
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| Company type | Public |
|---|---|
| BSE: 532891 NSE: PURVA | |
| Industry | Real estate & construction |
| Founded | 1975 |
| Founder | Ravi Puravankara |
Area served | Worldwide |
Key people |
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| Products | Residential, Commercial |
Number of employees | 2700+ (2021) |
| Website | www |
A Glimpse Into Puravankara Group History
Established in 1975, Puravankara Limited began its journey under the vision of Ravi Puravankara. In January 2018, the company underwent a rebranding, changing its name from Puravankara Projects Ltd to Puravankara Limited.
In March 2017, the company divested its investment in Raidurg Panamaktha Village, valued at ₹403 crore, while Hetero Group acquired a 19-acre land and a 100% equity stake for ₹475 crore. Leadership also saw a key transition in 2019 when Abhishek Kapoor was promoted from Chief Operating Officer to Chief Executive Officer.
Financial Milestones and Funding Initiatives
- 2015: Puravankara raised ₹82 crore (approximately $13 million) from ASK Group for its affordable housing arm, Provident Housing.
- 2020: Collaborated with the International Finance Corporation (IFC) and the IFC Emerging Asia Fund to secure $76 million for affordable housing projects.
- 2022: The company launched a ₹750 crore fund for affordable housing projects, raising ₹200 crore during its first closing round.
Strategic Partnerships
Puravankara has consistently formed strategic alliances to strengthen its market presence:
- Keppel Land Limited (2011): Partnered with Singapore-based Keppel Corporation to bring foreign direct investment into Indian real estate.
- Tata Projects (2016): Collaborated to ensure timely delivery and superior quality in project construction.
- Snapdeal (2018): Partnered to promote and sell ready-to-occupy apartments across Chennai, Bengaluru, Coimbatore, and Kochi.
- Invento Makerspaces (2018): Introduced AI-powered robots, Mitra and Mitri, to enhance customer interactions at their offices.
- IBM Global Business Services (GBS) (2021): Adopted RISE with SAP for technology-driven advancements in operations.
Noteworthy Projects
Puravankara has delivered iconic projects that cater to diverse real estate needs:
- Purva Windermere (2011): A luxury residential project in Chennai, estimated at ₹1,700 crore.
- Purva Silversands (2016): A resort-style residential project in Pune spanning 1.5 million square feet.
- Marina One (2018): A joint venture with Sobha, offering waterfront luxury homes in Kochi.
- Provident Winworth (2022): A ₹1,550 crore residential project in Kochi, covering 3 million square feet.
- Purva Kensho Hills and Purva Soukhyam (2024): Recent plotted development projects in Bengaluru and Chennai, focusing on wellness and sustainability.
Accolades and Recognition
Puravankara Limited has garnered significant accolades, reinforcing its leadership in the real estate industry:
- Named India’s Most Admirable Brand by Fortune India in January 2021.
- Ranked fifth nationally in brand leadership and first in image management by Track2Realty’s Brand X Report 2022-23.
Social Initiatives
Puravankara is committed to giving back to society. In 2022, the company partnered with Vidyasaarathi to provide scholarships for deserving students, focusing on those with annual family incomes below ₹5 lakh or affected by the COVID-19 pandemic.
Why Choose Puravankara
With a legacy spanning nearly five decades, Puravankara Limited continues to set benchmarks in quality, innovation, and customer satisfaction. Whether it’s affordable housing or luxury residences, the company remains dedicated to creating spaces that resonate with excellence and trust.