Latest news with #ProvidentHousing
Business Standard
11-07-2025
- Business
- Business Standard
Puravankara records 6% YoY rise in pre-sales to Rs 1,124 crore in Q1 FY26
Puravankara reported 6% increase in pre-sales to Rs 1,124 crore in Q1 FY26 from Rs 1,064 crore in Q1 FY25. The company has achieved quarterly sales volume of 1.25 million square feet for Q1 FY26 when compared to 1.29 million square feet in Q1 FY25. The average price realisation improved by 9% YoY to Rs 8,988 per square feet in Q1 FY26 from Rs 8,246 per square feet in Q1 FY25. Puravankara has achieved quarterly customer collections from the real estate business of Rs 857 crore in Q1 FY26. It further stated that it is on track to complete 2.2 million square feet of commercial projects during this year. Ashish Puravankara, managing director, Puravankara, said: "As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1 FY26, despite no new launches we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have been recently selected as preferred developer to redevelop eight housing societies in Chembur, Mumbai, unlocking a GDV potential of over Rs 2,100 crore. Further, we have entered into a joint development agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation." Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The scrip declined 2.01% to currently trade at Rs 285.05 on the BSE.
Business Standard
10-07-2025
- Business
- Business Standard
Puravankara announces joint development of 5.5-acre land parcel in East Bengaluru
Puravankara has announced the joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated gross development value (GDV) of over Rs 1,000 crore. The acquisition aligns with the companys strategic vision to expand its footprint in key Bengaluru micro-markets that feature robust infrastructure, excellent connectivity, and sustained residential demand. The land parcel offers a total saleable area of approximately 0.83 million square feet. Located in Balagere, East Bengaluru, the site benefits from strong and consistent market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to launch within the next six to nine months. Ashish Puravankara, managing director, Puravankara, said, This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the citys most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengalurus emerging corridors. Mallanna Sasalu, CEO South, Puravankara, added, Balagere has emerged as a highpotential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and support for faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio. Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The company reported consolidated net loss of Rs 75.89 crore in Q4 FY25 as against net profit of Rs 6.50 crore posted in Q4 FY24. Net sales tanked 63.9% year on year to Rs 155.21 crore in Q4 FY25.
Yahoo
07-03-2025
- Yahoo
Coroner wants answers after decapitation murder
A senior coroner has called on three organisations to take action to prevent future deaths after a man was killed outside his home in Birmingham. In a newly published report, Louise Hunt highlighted failings around the killing and decapitation of Matthew Lynch in 2023 by Kyle Doughty, with whom he shared supported accommodation. Ms Hunt wants Birmingham and Solihull Mental Health Trust, Birmingham City Council and Provident Housing to provide details of actions they took and explanations for failings in the case. The bodies have all been contacted by the BBC for a comment. Doughty, then 33, was sentenced to an indefinite hospital order after a trial at Birmingham Crown Court in July 2024. He had killed 43-year-old Mr Lynch outside their shared property in Ashwin Road, Handsworth, on 11 July 2023. In her report Ms Hunt, senior coroner for Birmingham and Solihull, also asked for details of a timetable for action the bodies might have drawn up in relation to dealing with Doughty's case. She said an internal investigation at the mental health trust had not addressed how, and whether, Doughty's use of medication should have been monitored, following a clinic visit he made in May 2023. "This was important as non-compliance with medication was a risk factor for relapse," Ms Hunt said. The day before Mr Lynch's killing, Doughty had been evicted from the Ashwin Road property after smashing up his room. In the run up to the murder, Ms Hunt's report noted the trust had not verified whether failed attempts to visit Doughty had been made at an old address, or his new one in Ashwin Road. "This was a critical issue as the new address had not been updated on the clinical notes," she noted. She said Doughty was known to suffer from "treatment-resistant paranoid schizophrenia", which was made worse if he stopped taking medication and took illegal substances. There were concerns about whether the trust was adequately learning from incidents Doughty was involved in, she noted. Her report also set out concerns about resistance to working with mental health professionals between both the trust and the city council. Such a lack of co-operation could have led to appropriate mental health assessments not taking place, she said. There were also concerns about information-sharing between agencies and training given to support workers, her report noted. "The inquest heard evidence that support workers need more focussed training on mental health conditions and how to manage and help residents with enduring mental health conditions," Ms Hunt said. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram. Murder arrest man detained under Mental Health Act Birmingham City Council Birmingham and Solihull Mental Health Trust Provident Housing Group
