Puravankara Projects gains on foraying into Kingdom of Saudi Arabia

15 Jun 2012

Puravankara Projects is currently trading at Rs. 62.50, up by 0.25 points or 0.40% from its previous closing of Rs. 62.25 on the BSE.

The scrip opened at Rs. 62.50 and has touched a high and low of Rs. 62.50 and Rs. 62.50 respectively.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 95.25 on 16-Jun-2011 and a 52 week low of Rs. 54.15 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 63.30 and Rs. 60.70 respectively. The current market cap of the company is Rs. 1,333.00 crore.

The promoters holding in the company stood at 89.96% while Institutions and Non-Institutions held 8.52% and 1.52% respectively.

Puravankara Projects, one of the leading real estate developers of the country has ventured into the Kingdom of Saudi Arabia to cater to the Indian housing needs of NRIs residing there. With the increasing interest among Indians in the Kingdom of Saudi Arabia to invest in luxury and affordable luxury homes back home in India, Puravankara is now well poised to tap this potential market with a permanent presence in the Kingdom of Saudi Arabia through its new branch office in Al Khobar, Dammam. 

Besides, in an effort to reach out to NRI’s, the company has now also set up a 24/7 sales support desk in India. Now Indians all over the world can reach out, at their convenient time irrespective of the time zones they live in.  The inauguration of this new office comes after establishing a prominent presence in the Middle East market, in Dubai for over two decades.

The above strategic move is in line with the company’s long standing history of being one of the first Indian companies to tap rising potential of emerging markets overseas.

Since inception in 1975, Puravankara has one mantra for success, part from this, values like uncompromising business ethos, focused customer centric approach, robust engineering, in house Research and Development has created the leading real estate brand. 

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