Puravankara’s wholly owned subsidiary -- Provident Housing (PHL) has entered into a share purchase agreement and purchased 60% of the Paid up Equity Share Capital of DV Infrhomes (DVIPL) to make it a subsidiary of PHL and whereby a step down subsidiary of the company. The cost of acquisition at which the shares are acquired is Rs 60,000.
The acquisition has been made with an intent to develop a project which involve construction of a rehabilitation building and the development and construction of approximately one tower for free sale on the land owned by DVIPL.
Puravankara is a leading real estate company in India, with a presence in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune
