Puravankara Limited appointed as preferred developer for Pali Hill redevelopment project

Puravankara Limited has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.

Pali Hill is a premium address in Bandra West, with property rates ranging from Rs 1 Lakh to Rs 1.20 lakh per sq ft. The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, with over ~2.15 lakh sq ft available for sale, and a potential Gross Development Value (GDV) of over Rs 2,000 crore. Strategically positioned, the residential society is spread slightly over two and a half acres and is one of the largest in the micro‐market.

At present, the company is in advanced stages of discussions for the redevelopment of three to four other prestigious housing societies in Mumbai.

Shares of Puravankara Limited was last trading in BSE at Rs. 359.05 as compared to the previous close of Rs. 354.40. The total number of shares traded during the day was 9184 in over 258 trades.

The stock hit an intraday high of Rs. 360.00 and intraday low of 345.00. The net turnover during the day was Rs. 3267333.00.

Source : Equity Bulls

Keywords

Puravankara INE323I01011 Realty PreferredDeveloper PaliHill RedevelopmentProject