Piramal Enterprises Invests Over Rs 500 Crore in Puravankara Group's Real Estate Ventures Across India

Piramal Enterprises has invested in a diverse portfolio of real estate projects by Puravankara Group, covering commercial and residential developments across India. The investment includes projects in Bengaluru, such as commercial properties along Kanakapura Road and IVC villaments, offering luxurious living experiences. Additionally, residential properties in Goa are part of the investment. Puravankara, known for its housing and plotted development brands, operates extensively across multiple cities in India. This investment reflects a strategic move to capitalize on the growing real estate market in key Indian cities.

Piramal Enterprises has made a significant investment of over Rs 500 crore in various projects of real estate developer Puravankara Group. This investment spans across a range of projects, including commercial properties and residential ventures, located in multiple regions across India. The funding will be provided through a senior secured financing structure and currently covers four projects of Puravankara.

Among the key projects is the development of commercial properties spanning 8,00,000 sq. ft. along Kanakapura Road in Bengaluru, known for its commercial growth and status as an IT hub. Additionally, the investment extends to the development of IVC villaments in Bengaluru, offering luxurious living spaces that combine the privacy of a villa with the convenience of an apartment complex. Furthermore, residential properties spread over 1.5 million sq. ft. in Goa are also included in the investment.

Puravankara Group operates through three brands - Purva, Provident Housing, and Purva Land, catering to various segments of housing and plotted development. With over 80 completed projects spanning 46 million sq. ft. across cities like Bengaluru, Chennai, Hyderabad, Mumbai, and Goa, Puravankara has established itself as a prominent player in the real estate sector.