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05-Jun2017

Puravankara soars on plan to invest Rs 750 crore on construction of ongoing projects in FY18

Puravankara is currently trading at Rs. 66.55, up by 1.45 points or 2.23% from its previous closing of Rs. 65.10 on the BSE.

The scrip opened at Rs. 66.45 and has touched a high and low of Rs. 66.70 and Rs. 65.75 respectively. So far 9288 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 71.75 on 18-Apr-2017 and a 52 week low of Rs. 37.20 on 22-Nov-2016.

Last one week high and low of the scrip stood at Rs. 68.05 and Rs. 59.50 respectively. The current market cap of the company is Rs. 1569.93 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 18.40% and 6.60% respectively.

Puravankara will invest Rs 750 crore on construction of ongoing projects in the current fiscal and is looking for joint venture (JV) partners to expand business. The Bengaluru-based developer also plans to launch 7-8 million square feet area in 5 projects in 2017-18. The company had invested Rs 2,000 crore during last two fiscals on construction of projects.

Besides, the company has a pipeline of over 22 million square feet over the next two years in six markets -- Bengaluru, Chennai, Hyderabad, Pune, Mumbai and Goa -- where it has presence.

Puravankara is a leading real estate company in India, with presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Mumbai and Pune.


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