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Confident Bangalore Real Estate Developers coming up with New Projects

by Paul Joseph July 9, 2010

Rising purchasing power and higher wages in the information technology (IT) sector is making real estate firms in Bangalore confident of launching new projects after a lull in the past few years, according to a DNA, Bangalore report. The city developers — Sobha Developers, Puravankara and the Brigade Group — which had not launched any new projects over the last one-and-a-half year, are planning to launch a combined 34 msf in the current fiscal. Baaskaran Subramanian, CFO, Sobha Developers, said the trend is driven by higher transaction volumes being registered by city’s builders, which had reduced the number of unsold inventory with them. “With the improving affordability, our existing unsold stock has come down drastically. Besides, we have also cleaned up our balance-sheet by reducing debt and thereby improving cash flow. We feel we can go ahead with new projects now,” he said. Sobha Developers’ transaction volume jumped 150 per cent in the first quarter of the fiscal 2011 over the same period last year. On the other hand, its unsold inventory dwindled by 0.625 msf in the last 3 months. Ashish Puravankara, director, Puravankara Projects Ltd, claims his company’s sales to have shot up in double digits over the last 4-6 months. Saurabh Kumar and Gunjan Prithyani, analysts with JP Morgan, said that Bangalore was the “only market, which is showing growth.”

Tagged as: bangalore, dna, existing, over-the-last, puravankara, real estate, real estate developers, transaction

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Bangalore realtors ride high on affordability

by Paul Joseph July 9, 2010

Rising purchasing power and higher wages in the information technology (IT) sector is making real estate firms in Bangalore confident of launching new projects after a lull in the past few years, according to a DNA, Bangalore report. The city developers — Sobha Developers, Puravankara and the Brigade Group — which had not launched any new projects over the last one-and-a-half year, are planning to launch a combined 34 msf in the current fiscal. Baaskaran Subramanian, CFO, Sobha Developers, said the trend is driven by higher transaction volumes being registered by city’s builders, which had reduced the number of unsold inventory with them. “With the improving affordability, our existing unsold stock has come down drastically. Besides, we have also cleaned up our balance-sheet by reducing debt and thereby improving cash flow. We feel we can go ahead with new projects now,” he said. Sobha Developers’ transaction volume jumped 150 per cent in the first quarter of the fiscal 2011 over the same period last year. On the other hand, its unsold inventory dwindled by 0.625 msf in the last 3 months. Ashish Puravankara, director, Puravankara Projects Ltd, claims his company’s sales to have shot up in double digits over the last 4-6 months. Saurabh Kumar and Gunjan Prithyani, analysts with JP Morgan, said that Bangalore was the “only market, which is showing growth.” Source : http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=9270&cat_id=3 Filed under: Bangalore , Builders/ Developers , New projects Tagged: Bangalore , Brigade group , Puravankara , Sobha Developers

Tagged as: bangalore, builders/ developers, developers, new-projects, over-the-last, puravankara

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Prelaunch Offer Puravankara Project Sarjarpur Road Bangalore

by Paul Joseph June 29, 2010

PRE LAUNCH OFFER from “PURAVANKARA PROJECTS” at OFF SARJAPUR ROAD, BANGALORE. Puravankara launch of new Project in Bangalore. The project is in Harlur Road HSR Layout Extn which comprises 2, 3 and 4 bed room apartments. The project is being slated for launch during this month and a soft launch of the project is in the next two days. The soft launch price will be few hundred rupees lower than the official launch price. If interested please feel free to call me on UK 02080904217, 084543 00015 | India 9717841117 for further details and pre launch booking procedure. Puravankara projects have been renowned for its lavish constructions and utility purpose apartments. The construction concept of these builders aims to provide the homeowners with benefits of comfortable living at moderate prices. The Puravankara builders have already earned some fame with the construction of buildings and condominiums in Kanakpura road in Bangalore and Medavakkam in Chennai. The Puravankara developers Bangalore and Purvankara developers Chennai are now expanding their real estate and construction business. Contact Us www.InvestInNest.com email – info@investinnest.com UK 020 8090 4217, 0845 43 00015 | India 9717841117

Tagged as: bangalore, india, official, project, puravankara, real estate

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Provident Housing to launch 3 affordable housing projects in 2010

by Paul Joseph April 5, 2010

April 05, 2010 Priyanka Kapoor Provident Housing Ltd, a wholly owned subsidiary of Puravankara Projects Ltd (PPL), is set to launch its third affordable housing project at Mysore Road in Bangalore. Spread over 6 million square feet, this project will comprise almost 6,000 units. Further, it also plans to launch two more affordable housing projects of about 8 million square feet in Kochi and Chennai. These three launches are planned in 2010, a top company executive told, Property Pulse. “Our two projects (Chennai and Bangalore) launched last year are doing exceptionally well. Construction work has already begun and sales too have been good. We plan to launch more projects in this category in 2010. Our third project will soon be launched in Bangalore followed by one each in Kochi and Chennai. Things are looking quite positive as banks are coming forward to do the funding in terms of construction for these projects and they are even looking for JVs. To put it simply, there is enough of bank funding and customer advances for our immediate expansion,” said Ashish Puravankara, director, Provident Housing. Currently, Provident has two projects — one each in Chennai and Bangalore which are ongoing and sold out substantially. “We are launching another project of 6 million sq ft in Bangalore shortly. This apart, we will also launch affordable housing projects of about 8 million sq ft in Kochi, Coimbatore and Chennai,” Puravankara added. The company, further, aims to build around 65,000 affordable homes across 60 million sq ft in the next 4-5 years. Besides the three cities mentioned above, the group is also eyeing Pune, outskirts of Mumbai and other tier II cities in the South. “We feel that there is good potential in these cities. We have enough internal accruals to expand our land assets. The investment will essentially be on land because the sales are so good that we hardly need money for construction,” Ashish claimed. Source : http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=8169&cat_id=1 Filed under: Bangalore , Builders/ Developers , Chennai , Cochin , New projects Tagged: Bangalore , Chennai , Kochi , Provident Housing Ltd , Puravankara Projects Ltd

Tagged as: bangalore, builders/ developers, chennai, city-trends, housing, kochi, new-projects, puravankara, sales

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Mexico’s Homex to Partner with Indian Company for Housing Project

by Paul Joseph March 29, 2010

Mexico’s Homex said on Monday it intends to partner with Indian construction company Puravankara on new public housing projects in India. Homex has agreed to terms with Puravankara for a “future, nonexclusive strategic alliance to begin operations in the public housing segment,” the Mexican company said in a stock exchange filing. The first project being looked at will be in Chennai, a city in southern India, Homex said. The real estate firm Puravankara expects to boost revenues from low-cost housing projects, which developers in India see as helping to counter falling demand in the premium segment. Homex specializes in mass-producing homes that sell for less than $40,000 each in Mexico and has eyed expansion in other international markets, such as Brazil. The Mexican company’s fourth-quarter revenue fell 7 percent year to year, underperforming analysts’ expectations. Homex shares were up 2.03 percent to 58.24 pesos on the Mexican stock exchange and up 0.53 percent to $27.95 per share in New York in late-morning trade.

Tagged as: indian, international, mexico, puravankara, real estate, real estate india

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