Puravankara Subsidiary Secures Massive ₹2,700 Cr Redevelopment Deal 🏗️

Big news from the real estate sector! Puravankara Limited (PURVA) has announced a significant win for its wholly-owned subsidiary, Purva Blue Agate Private Limited. The subsidiary has received a Letter of Award for a major redevelopment project, signaling a strong move in the company’s growth trajectory.

This exciting contract involves the redevelopment of the society belonging to M/s. Samrat Ashok Co-operative Housing Society Limited. We’re talking about a substantial residential building project right here in India, making it a purely domestic venture for Puravankara.

Now, for the numbers that really catch the eye: the broad consideration or size of this order is a whopping ₹2,700 Crores! That’s Rupees Two Thousand and Seven Hundred Crores – a truly massive figure that underscores the scale and potential impact of this project on Puravankara’s future revenue and market presence. 💰

This kind of redevelopment project is a win-win. It breathes new life into existing residential areas, offering modern amenities and improved living spaces, while also providing a significant boost to the developer’s portfolio. It’s also good to note that the company has confirmed this is not a related party transaction, nor do promoters or promoter groups have any interest in the entity that awarded the contract, ensuring transparency.

This substantial contract highlights Puravankara’s continued focus on expanding its footprint in the residential segment and its capability to undertake large-scale urban redevelopment projects. Keep an eye on how this major win shapes the company’s journey ahead! ✨

source: Corporate Announcement

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