iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Piramal inks ₹500 crore deal with Puravankara

12 Apr 2024 , 08:08 PM

According to news reports, the flagship firm of the Piramal Group, Piramal Enterprises, has invested more than ₹500 Crore in the real estate developer Puravankara Group, based in Bengaluru, across a number of its projects. The investment comprises a variety of projects, ranging from residential to commercial properties, demonstrating a strategic partnership intended to support real estate endeavors throughout various regions of India.

"The Piramal Group entity has made this investment through a senior secured financing structure and it currently covers a total of four projects of the developer," stated the report.

The building of commercial premises spanning 800,000 square feet along Kanakapura Road, a busy Bengaluru neighborhood renowned for its quick urbanization and commercial expansion, is one of the investment's major initiatives. This action is in line with Bengaluru's trend of commercial expansion, which is encouraged by the city's strong business environment and reputation as an IT hub.

The investment also goes toward the construction of IVC villaments in Bengaluru, which responds to the changing tastes of customers for opulent and cutting-edge living areas. A unique residential experience is provided by villaments, a hybrid of a villa and an apartment, which combine the seclusion and spaciousness of a villa with the conveniences and services of an apartment building. In Goa, the venture also consists of residential properties totaling 1.5 million square feet.

This investment is consistent with the current pattern of developers and financing firms working together to capitalize on the real estate market's expansion.

Puravankara offers a range of housing and plotted development options under three distinct brands: Purva, Provident Housing, and Purva Land. Over 41 million square feet make up the company's land bank, and projects total 29 million square feet. It had finished more than 80 projects totaling 46 million square feet across Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa as of the end of September.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • piramal enterprices
  • Purvankara Group
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.