Puravankara Ltd is in advanced talks to rehabilitate three to four housing societies in Mumbai

Puravankara Limited is investigating commercial redevelopment projects in addition to residential ones.

Puravankara Ltd, situated in Bengaluru, has reached ₹5,900 crore in revenues for the first time in over five decades. The company wants to focus on redevelopment projects in Mumbai and Pune this fiscal year.

Mumbai and Pune will be our new focus areas, especially for redevelopment projects, stated Abhishek Kapoor, Group CEO of Puravankara Ltd.

Puravankara is currently in the advanced phases of planning the reconstruction of three to four housing societies in Mumbai.

Besides residential redevelopment projects, we are also evaluating commercial redevelopment projects, he went on to say.

The business obtained residential redevelopment rights for two Mumbai housing societies in November 2023, with a revenue potential of ₹1500 crore.

According to him, the company in Pune is in the advanced stages of discussing outright and joint development agreements.

The company's goal is to become a national developer and NCR is on its radar at some point, he told me.

Focus on land acquisitions.

The publicly traded real estate corporation also intends to refill its inventory with land acquisitions totaling 10 million square feet. These would be in markets like Bengaluru, Hyderabad, Chennai, Mumbai, and Pune.

Almost all cities in the country face infrastructural challenges due to their size and level of development. The public and the government must take the initiative to find solutions.

These issues must be addressed, and Bangalore is no exception. Having said that, climate change will not make matters simpler. The 5 million square feet that could not be launched last year is slated to join the market this year. Other launches will be announced in due course, he said. Almost all cities in the country face infrastructural challenges due to their size and level of development.

The public and government must take the initiative to discover solutions. These issues must be addressed, and Bangalore is no exception. Having said that, climate change will not make matters simpler.

Source: Hindustan Times