Puravankara sells 19 acre land parcel in Hyderabad for Rs 475 crore

29 Mar 2017

In a bid to monetise assets and cut debt, Puravankara has sold a 19 acre land parcel in Hyderabad for Rs 475 crore to pharma company Hetero group. Realty firm had bought this land way back in 2007-08 for Rs 403 crore. The proceeds of this transaction would be largely utilised for reduction of net debt which is currently around Rs 2,300 crore.

Moreover, Bengaluru-based developer is in talks with land owners for forming partnership to develop projects in Hyderabad property market that has a huge potential. The company has already launched housing projects on 20 acres of land parcel in Hyderabad and is also constructing a commercial project on over 3-acres of land.

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

Related Puravankara Ltd. Links:

Puravankara Share Price

72.15 0.05 (0.07%) May 07, 16:03
1 Year Price Chart
Peers
Company Name CMP
Dilip Buildcon 532.65
NBCC (India) 44.00
Sobha 467.30
JMC Projects (India) 94.30
Prestige Estate Proj 271.30
View more..
Sensex vs Puravankara
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback