The shares of a small-cap real estate stock hit a 5% upper circuit in today’s trading session after announcing the launch of its newest landmark project in Pune.
Share Price Movement
The shares of Puravankara Ltd with a market capitalization of Rs 6,776.55 Crores, hit a 5% upper circuit at around Rs 285.75 per share higher than the previous close of Rs 272.15. The shares generated a return of 9.7% the past year, and in the past 5 years, it generated a return of 370.4%.
About the project
Puravankara Limited has launched its new project, Purva Atmosphere, in Keshav Nagar, Pune, spanning 10 acres with 70% open spaces. The development includes two 30-story towers offering 240 units of 2 BHK and 180 units of 3 BHK apartments, designed for natural light, ventilation, and Vastu compliance. An IGBC-compliant project, it features Bali-inspired landscaping, green spaces, and a one-acre central podium with a clubhouse and pool. The project offers 50+ amenities, including yoga pods, sensory gardens, and coworking spaces, and is strategically located near key IT hubs. Prices start at ₹95 lakhs for 2 BHK and ₹1.49 crore for 3 BHK.
Management Commentary
Commenting on the launch, Rajat Rastogi, CEO of Puravankara Limited, said, “Pune continues to be a key focus area in our strategic expansion plans, and Purva Atmosphere marks a significant milestone in our journey. With thoughtfully designed low-density homes offering only 150 flats per acre, the project ensures ample space and privacy, making it a perfect setting for comfortable, sustainable living. It represents our unwavering commitment to creating a sustainable world for people to live their dreams. Every aspect, from the expansive green spaces to the carefully curated amenities, reflects our dedication to providing a lifestyle that goes beyond just four walls.”
Financials
Its Revenue from operations grew by 35% from Rs. 368 Crores in Q2FY24 to Rs. 496 Crores in Q2FY25, and its Net loss increased by 52% from Rs. 11 Crores to Rs. 17 Crores during the same period.
Recent Updates
Provident Housing Limited, a subsidiary of Puravankara Limited, launched a new phase of Provident Ecopolitan in Bengaluru on January 17, 2025. The phase offers 581 residential units in 1 BHK, 3 BHK, and 3.5 BHK configurations across two towers. Unit sizes range from 530–590 sq. ft. for 1 BHK, 1,492–1,550 sq. ft. for 3 BHK, and 1,793–1,911 sq. ft. for 3.5 BHK.
About Puravankara Ltd
The Puravankara Group, headquartered in Bengaluru, is a trusted real estate major with a pan-India presence. Over five decades, it has developed three successful residential brands: Purva, Provident Housing Limited (PHL), and Purva Land. The group also owns Starworth Infrastructure and Construction Limited (SICL), which provides technology-enabled construction solutions. Additionally, Puravankara has ventured into Grade-A commercial real estate with 3 million square feet of space and offers integrated interior design services through Purva Streaks. The group is present in 9+ cities and has completed over 86 projects. The company has a land bank of over 36 million square feet and 23,000+ homes with a total area of over 31 million square feet under development.
Written by Adhvaitha Nayani
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