Puravankara to invest Rs 1,550 cr on mega project in Kochi

Realty firm Puravankara will invest over Rs 1,550 crore to construct a mixed-use project, mainly housing, at Kochi in Kerala as part of its plan to expand business amid rise in demand of apartments post the second wave of Covid pandemic.

The company’s subsidiary Provident Housing will develop 3 million square feet in the project, which is spread over 18 acres, named ‘Provident Winworth’ at Kochi. Puravankara is expecting a sales realisation of about Rs 3,000 crore from this project over the next 6-7 years.

Over the last 13 years, Provident Housing has launched around 21 million sq ft of projects across nine cities – Bangalore, Chennai, Hyderabad, Mumbai, Pune, Goa, Kochi, Coimbatore and Mangalore, out of which around 12 million sq ft has already been delivered.