Hotline: 1800 102 2007
Hotline: 1800 102 2007
Aug, 16 2019

Real estate developer Puravankara venturing into co-living space

Puravankara will soon introduce its first co-living project in Goregaon, Mumbai, spread over 350,000 sq ft.

Real estate developer Puravankara venturing into co-living space

Bengaluru-based Puravankara, a real estate developer, is entering into the co-living and warehousing segments for its business expansion. The company focuses mainly on residential housing.

Puravankara will soon introduce its first co-living project in Goregaon, Mumbai, spread over 350,000 sq ft. 

Ashish R Puravankara, Managing Director of Puravankara, said, “Going ahead, the buying behaviour of millennials will change. We are right now deciding whether we should float our own brand or tie-up with an operator.”

Puravankara is also making an entry into the warehousing segment. For this, the firm has entered into an agreement with Morgan Stanley’s real estate investment arm to jointly fund and develop warehousing assets across Mumbai, Chennai and Bengaluru.

“The partnership is solely opportunity-based. We are currently evaluating a land parcel jointly in Bengaluru,” Ashish added. 

The Bengaluru-based company’s first warehouse is coming up in Chennai, spread across 42 acres.

Puravankara is further eyeing to double its commercial and retail portfolio to 10 million sq ft by 2023. The realty developer has already acquired land in Bengaluru, Mumbai, Pune and Hyderabad to expand its commercial portfolio.

Kuldeep Chawla, CFO, Puravankara, stated, “Currently, 50% of the company’s revenue comes from Provident and we expect that to go up further. Five years from now, Provident will become the largest housing company in India.”

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Bars, Pubs & Lounge
    About Us: Barf Soda Paani An Upcoming Concept Pub cum Restro Bar Based..
    Locations looking for expansion West bengal
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
  • Robotics & Technical Training
    About Us : We would like to introduce ourselves as an..
    Locations looking for expansion Maharashtra
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Organic Products
    About Us: Established in 2015, Chai Chun, a division of the..
    Locations looking for expansion West bengal
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • About Us:  At LongLive Pizza, our aim is to make a..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities