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IFC, IFC EAF to invest Rs 556 crore in Puravankara

17 Dec 2020 Evaluate

IFC -- a member of the World Bank group, and IFC Emerging Asia Fund (EAF) are planning to invest Rs 556 crore in an affordable housing platform of realty firm Puravankara to develop up to four projects. IFC and IFC EAF have partnered with the Puravankara Group to invest in the development of up to four residential projects under the Puravankara group's affordable housing brand 'Provident'. Two of these four projects are planned in Kochi and Bengaluru with a saleable area of 4.5 million sq ft. About 4,000 housing units will be built in the next five to seven years, with other projects to be identified by 2021.

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

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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