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Puravankara rises on planning to enter into co-living segment

26 Aug 2019

Puravankara is currently trading at Rs. 54.95, up by 0.80 points or 1.48% from its previous closing of Rs. 54.15 on the BSE.

The scrip opened at Rs. 56.00 and has touched a high and low of Rs. 56.45 and Rs. 54.70 respectively. So far 2890 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 100.00 on 29-Aug-2018 and a 52 week low of Rs. 50.80 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 59.60 and Rs. 50.80 respectively. The current market cap of the company is Rs. 1303.14 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.97% and 7.03% respectively.

Puravankara is planning to enter into co-living segment and also planning develop its first project, comprising over 1,000 beds, in Mumbai. The company has identified a project in Goregaon, Mumbai to enter into this growing segment.

However, the company is yet to decide whether it would foray in this business under a separate brand or would partner with some existing co-living operators.

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

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323