Puravankara Projects advances on plan to exit Raidurg project

28 Apr 2016

Puravankara Projects is currently trading at Rs. 53.50, up by 0.90 points or 1.71% from its previous closing of Rs. 52.60 on the BSE.

The scrip opened at Rs. 53.00 and has touched a high and low of Rs. 55.00 and Rs. 52.60 respectively. So far 21,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 87.75 on 01-Jul-2015 and a 52 week low of Rs. 42.10 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 55.00 and Rs. 51.65 respectively. The current market cap of the company is Rs. 1,268.75 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.04% and 4.96% respectively.

Puravankara Projects’ board has passed an enabling resolution to exit its Rs 403 crore investment at Raidurg Panamaktha Village. This will involve the sale of all shares held in three wholly owned subsidiaries. The company had bought the land in 2007 through open auction from APIIC. It had wanted to exit from the project in the last few years.

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

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