Puravankara expects Rs 1000 crore revenue from Pune realty project

NEW DELHI: Realty firm Puravankara Projects will develop a new housing project in Pune with an estimated sales revenue of about Rs 1,000 crore.

Bengaluru-based Puravankara in November 2014 had formed a joint venture with Pune-based Oxford Group and Mumbai-based EKTA World to develop this 30-acre project.

The company has launched the first phase of the project ‘Purva Silversands’, which is spread over 20 acres, comprising 1,473 units.

According to sources, total saleable area of the first phase is 1.5 million sq ft with estimated sales revenue of about Rs 1,000 crore. The project cost of the first phase is Rs 480 crore.

The company has opened bookings at a base price of Rs 4,995 per sq ft.

The three partners would share revenue from this project, sources added.

Puravankara Projects has re-entered the Western Region with this project, the company said in a statement. It has presence in Bengaluru, Mumbai, Kochi, Chennai, Coimbatore, Hyderabad, Pune and Mysore.