Puravankara Projects surges on plan of raising up to Rs 1500 crore through NCDs

26 Sep 2016

Puravankara Projects is currently trading at Rs. 48.10, up by 0.10 points or 0.21% from its previous closing of Rs. 48.00 on the BSE.

The scrip opened at Rs. 48.90 and has touched a high and low of Rs. 48.90 and Rs. 47.55 respectively. So far 8734 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 68.90 on 15-Oct-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. 49.90 and Rs. 45.00 respectively. The current market cap of the company is Rs. 1143.06 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 18.78% and 6.22% respectively.

Puravankara Projects, one of the leading realtors and builders in India, is planning to raise up to Rs 1500 crore by issuing non-convertible debentures (NCDs) for execution of its projects. The company has sought shareholders approval for raising funds and changing the name of the company through postal ballot. Earlier this month, the company reported 67% decline in consolidated net profit at Rs 10.24 crore for the quarter ended June 30, 2016. Its net profit stood at Rs 30.72 crore in the year-ago period.

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

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SEBI Registered: Investment Adviser - INA000013323