NRI Real Estate and Property Investment in India
 |  WWW.NRIREALTYNEWS.COM
 
Sliding Stocks force Purvankara to revise Price Band
Monday, August 06, 2007

The bear’s hug caught Puravankara off-guard last week, forcing the company to revise its price band for its IPO from Rs.500 –Rs.525 to Rs.400-Rs.450 per share.

Receiving only 28% of its subscription by the end of the 2nd day on August 2, the company has also extended its offer till August 8, 2007, as per SEBI’s guidelines

In its 32 years of experience in real estate, Puravankara has completed 14 residential projects in Bangalore, Kochi, Chennai, Coimbatore and Mysore, and taken up assignments in the UAE and Colombo. Of the 106.8 million sq. ft of saleable area it possesses, Puravankara is presently developing 12.20 million sq.ft of area.

Puravankara’s Rs.3.5 billion expansion plan includes a 2.58 million square feet residential project through Keppal Purvankara Development, and a tie-up with Galaxy Properties to acquire and develop 43.56 million sq. ft in Chennai.100 residential villas in Colombo would be the company’s maiden overseas venture.

Last week, the company announced its plans to establish a chain of hotels in South India in association with domestic and international hoteliers. Puravankara would choose between 5-star and business hotels, depending on the viabilility and location.

Puravankara has introduced the latest know-how in its construction practices – it has applied Miwan technology for two of its residential projects using aluminium panels. The company also claims to be the only real estate company using end-end ERP in its business.

Add to your Social Bookmarks:
ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON
ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE  

 

 

Return to India

NRI INSURANCE

NRI SERVICES

 

Indian Cities Guide

DELHI   NOIDA   GHAZIABAD
         
GURGAON   MUMBAI   AHMEDABAD
         
KOLKATA   CHENNAI   HYDERABAD
         
BANGALORE   PUNE   CHANDIGARH
         
..More cities »
NRI Communities in Different Countries  
Indian Embassies & Consulates in Different Countries
 
NRI Newsletters  
NRI Feeds - Syndications