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Puravankara Projects jumps on identifying Hyderabad as one of its core markets

31 Aug 2015

Puravankara Projects is currently trading at Rs. 65.00, up by 0.35 points or 0.54% from its previous closing of Rs. 64.65 on the BSE.

The scrip opened at Rs. 64.60 and has touched a high and low of Rs. 68.40 and Rs. 63.95 respectively. So far 14614 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 114.20 on 25-Sep-2014 and a 52 week low of Rs. 58.15 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 69.80 and Rs. 58.15 respectively. The current market cap of the company is Rs. 1541.47 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 17.24% and 7.76% respectively.

Puravankara Projects, as part of its Vision 2020 Growth Strategy has identified Hyderabad as one of the core markets over the next 5 years. The stable socio-political environment and the pro-growth outlook of the policy makers in the city, is expected to trigger a multi-year economic growth and boost the Hyderabad market. With commercial real estate already seeing significant traction in the city, the residential market is expected to open up soon and offer vast opportunities for Tier 1 development firms. In the next 2 years, the latent demand for housing will propel the markets up in terms of both price and sales velocity.

The Group will shortly launch a large project under the Provident Brand in Rajendranagar on the PVNR Airport Expressway, through an innovative book building process. The project which has been tied up through a Joint Development model, is already generating a lot of interest from buyers and real estate brokers across the country and in overseas markets.

Puravankara Projects is a leading real estate company in India, with significant presence in Bengaluru, kochi, Chennai, Hyderabad and Mysore.


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