Puravankara’s First Premium Affordable Residential Offering in Mumbai
Provident Housing Limited (PHL) today announced the launch of Provident Palm Vista in Mumbai. With superior architectural designs, first-of-its-kind ‘switch’ furniture and a strong focus on sustainability, PHL’s entry into the city of dreams will positively disrupt its urban housing landscape.
Since its inception in 2008, Provident Housing Limited has pioneered and championed the premium affordable housing segment of the country. Over the last 12 years, ~21 msft of projects have been launched across Bangalore, Chennai, Hyderabad, Mumbai, Pune, Goa, Kochi, Coimbatore and Mangalore, out of which ~12 msft has been delivered. By incorporating modern construction methodologies, PHL offers high-quality, affordable homes that are completed to perfection and are delivered within accelerated timelines. Provident Housing was also one of the first industry players in the Indian real estate to see investments from IFC and IFC Emerging Asia Fund.
The latest project of PHL is located in Kalyan, an emerging residential hotspot in Mumbai. Over the last few years, Mumbai has harboured a rising demand for premium affordable housing from branded developers. Provident Housing promises to achieve this while fulfilling the aspirations of the new age homebuyer and elevating their lifestyle.
Ashish R. Puravankara, Managing Director, Puravankara Limited, said, “We are excited to expand our footprint in Mumbai and have a transformative impact on the vibrant metropolis. This new venture of Provident Housing Limited will enable thousands of homebuyers to have improved access to affordable luxury housing in planned and green urban spaces. Beyond the commercial factors, Mumbai will always hold a special significance in Puravankara’s 46-year-old legacy. We began our journey here in 1975. I am delighted to be back here to mark yet another milestone in our company’s history. We are confident that our unmatched infrastructure, timeless designs, intelligent amenities, and sustainability-led innovations will spur growth in the region’s real estate.”
Puravankara Limited has envisioned an ambitious pipeline over the upcoming quarters. In FY22, it plans to launch close to 15 msft. Out of this, Provident Housing Limited accounts for 7 msft. The flagship brand Puravankara will account for 3.5 msft. On the other hand, its plotted development arm, Purva Land, will see close to 4 msft.