Puravankara to launch Phase 6 of Provident Equinox in Bengaluru on September 20


Realty firm Puravankara Ltd on Saturday (September 19) said its wholly owned subsidiary Provident Housing Ltd will launch Provident Equinox 6, the sixth phase of its existing Provident Equinox project in Bengaluru, on September 20.

The residential project is located at Venkatapura Village, Kengeri Hobli, Bangalore South Taluk, Bengaluru South, Bengaluru Urban, Karnataka. The company said the project involves the construction of Phase 6 of the already existing project and is being launched in the normal course of business.

Provident Equinox 6 is registered with the Karnataka Real Estate Regulatory Authority. The project caters to the domestic market and falls under the residential category. Since it is a domestic launch, the company said the country of launch is not applicable.

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This week, Puravankara secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai, in a project with an estimated gross development value (GDV) of ₹2,600 crore.

According to the company’s exchange filing, the project is spread across 4.68 acres and has an estimated developable potential of approximately 1.05 million square feet. It marks Puravankara’s eighth redevelopment project in Mumbai, further expanding its presence in the city’s redevelopment market.

“Redevelopment is an important pillar of our Mumbai growth strategy and allows us to participate in some of the city’s most established and sought-after neighbourhoods,” said Ashish Puravankara, Managing Director, Puravankara.

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He added that the company sees an opportunity to build a scaled redevelopment platform in Mumbai, backed by capital allocation and execution.

On Friday (September 18), shares of Puravankara Ltd ended at ₹213.50, down by ₹4.90, or 2.24%, on the BSE.



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