Puravankara gets nod to exit Rs 403 crore investment in Karnataka

22 Mar 2017

Puravankara has received an approval for exit from the investment of Rs 403 crore at Raidurg, Panamaktha Village in Karnataka which would involve the sale of its entire shares in three wholly owned subsidiaries of Puravankara. The transaction has been authorized on a condition that total inflow should not be less than a sum of Rs 475 crore. The Board of Directors at its meeting held on March 21, 2017 have passed an enabling resolution for the same.

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

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