This year end , or next yr begining , I dont think they will launch before that ...Sorry no one answered your question before. But's its not as I said above your post. But I think Purvankara may launch this project by 2012 because most of their Kochi projects are already about half way through construction. This may be lauched before or after Purva Marina.
MUMBAI, April 29 (Reuters) - Property developer Puravankara Projects Ltd (PPRO.BO: Quote, Profile, Research) will launch about 18 million square feet of residential space in FY11, banking on an expected upsurge in demand in the south Indian cities. "In the next one year, we will be launching another 12 million sqaure feet in Puranvankara, and about 6 million square feet in Providence," its Chief Operating Officer Jackbastian K Nazareth told Reuters over phone. Providence Housing is a wholly-owned unit, through which the company made its foray into affordable houses.
The 18-million square feet of space would be across 9-11 projects, he added. "...Chennai market is slowly picking up, Bangalore market has already picked up quite a lot," he said, adding property prices are expected move up in south Indian markets.
Puravankara has around 19.01 million square feet under development, spread across Bangalore, Chennai, Hyderabad, Kochi and Kolkata. Puravankara has 11 ongoing residential projects and Provident Housing has 2.
It's net debt was at around 8 billion rupees as on March 31.
At this point of time, the company is not looking to raise funds, even though it would continue to look at opportunities depending on needs.
The company's FY10 net rose marginally to 1.45 billion rupees, on a net sales of 4.78 billion rupees. [ID:nBMB010433] "We have not done any new launches in the last one year. I think, it was more prudent in terms of our not having launched (due to the financial crisis)... From a Puravankara perspective that our margins are extremely strong," Nazareth said.
Puravankara shares closed up 2.89 percent at 106.90 rupees a share, while the BSE Real Estate Index was up 1.96 percent. (Reporting by Rajesh Kurup; Editing by Prem Udayabhanu)
This is a dead project..they have changed their palns!!hno:Puravankara have said they are gonna launch 18m sq. ft. of resi space over 9-11 projects. Two of those have to be Purva Grand Palms or Purva Marina.
RPT-Puravankara Projects to launch 18 mln sq ft in FY11
Plan change may be true , theyu may not go for 40 floor towersAny news ?
Lot of dead projects are returning back in new formats.... Say we all though DEWA is gone... It returned as DEWA PIER 20
Hopefully this too happen....