CHENNAI: Bengaluru-based real estate developer Puravankara Limited set Chennai, Bengaluru, Hyderabad, Mumbai and Pune as its focus markets to expand market share, its chief executive officer Abhishek Kapoor said on Thursday.
It aims to scale its business in the western market, with a focus on Mumbai and Pune, apart from expanding in southern regions.
Puravankara expects nearly 40- 50% of its total revenue from the Western region in the coming years as it has the higher value in terms of price. “We would like to see Mumbai and Pune catching up,” he said while speaking to the press in Chennai. The developer also evaluates entering Delhi, NCR region later. The company launched a wellness-themed plotted development project in Guduvanchery, a fast-growing suburb in Chennai. The first phase of the 120 acre project has more than 2,200 plots ranging from 600 sq.ft. to 5,000 sq.ft.
Currently, it has 29 million sq.ft under development across its four verticals - Purva, Purva Land, the plotted development arm, Provident Housing (PHL), and the commercial unit. It has a target of developing 15 million sq.ft. in FY24 and expects to deliver a few more projects by March, including a residential project in Kochi.