The Puravankara Story – A Real Estate Trailblazer

Indicative Photograph of a Manhattan Pod at Purva Silversands (Image Source: Puravankara)

In today’s real estate scenario, success is not limited to making money alone. The forethought to build an enviable brand image, through years of dedication has played a pivotal role in the success of many first generation real estate developers of this country. The Puravankara Group is one such company which, over the years, has emerged as one of the most sought after names in the real estate sector. Led by Mr. Ravi Puravankara, the group is headquartered in Bangalore. They also have a business presence in other cities such as Mumbai, Hyderabad, Kochi, Coimbatore, Chennai, and Dubai.

The Puravankara Group Logo (blue with capital letters)
The Puravankara Group Logo

Founded in the year 1975, with its first project in Mumbai, there has been no looking back for the Puravankara Group. An ISO 9001 Certification by DNV in 1998 and a DA2+ rating by CRISIL, the company went public in 2007 with an IPO of Rs. 500 per share. With 23.5 million square feet of land consisting of 48 completed residential projects, 2 commercial projects, and another 25 million square feet under development, the company has acquired a reputation of becoming one of the favourites among consumers, especially in the residential segment.

The company operates a premium housing segment under the flagship brand name Puravankara, a budget housing venture under the name Provident, and an Infrastructure & Contracting segment under the name of a subsidiary company Starworth Infrastructure & Construction Limited. Keppel-Puravankara is a joint venture of the group with Singapore’s leading real estate developer, Keppel Land Limited.

Puravankara: The Company of Firsts

Be it small or big, the Puravankara Group has several unique achievements to its name. The flagship brand – Puravankara, became the first of its kind to introduce ‘theme-based housing projects’ to Bangalore; this practice is kept alive till date, with projects such as Purva Palm Beach, and the group looks to innovate further in this regard. They also have a name for being the first real estate company in India to attract Foreign Direct Investment.

Puravankara: Speaking with the Employees

Purva Palm Beach by Puravankara Group -- view of the building under construction from inside the Purva Palm Beach site.
Purva Palm Beach by Puravankara Group

We recently had the opportunity to interact with a few employees at their office in Bangalore. The company has a skilled workforce of over 900 employees which include around 205 engineers and in-house architects. We were astounded to know that Puravankara hires people from diverse backgrounds ranging from Arts to Defence, in order to cash in on the variety of experiences they have and also on the innovative approach they can bring to the table.

The company believes in investing in their employees and hence provides them with incentives such as referral programs, coveted training programs, access to various workshops and much more. The employees were also happy about the open environment they get to work in and also the merit-based hiring system which Puravankara follows rigorously. We were also told that the superiors here provide freedom and authority to their subordinates in decision-making. They do this in order to foster a competitive spirit and encourage ownership of the project and hence, the brand name.

Puravankara: On the Consumer Front

The Puravankara Group, with its customer-centric approach has built a strong consumer base over the years. The founder, Mr. Ravi Puravankara has repeatedly attributed the success of his company to its customers and says that helping people own their dream home is the primary goal of the company. The target set of customers for each project are involved from the stage of project identification and this relationship, once forged, will last a even after the homes are handed over.

Time and again, Puravankara has chosen convenient project sites, keeping in mind the ease of commute for its customers. Quality and timely delivery of projects are priority, since, those matter the most to the consumers. The company has an innovative approach to each of its projects, which make them stand out and feature in a home-buyer’s list.

Follow our coverage of Puravankara in Bangalore on Proppstory.

Further, initiatives such as Purva Privilege program and Purva Advantage Program which give special offers and discounts to its customers are ways of assessing how much they are valued. In addition to these, Purva Connect programme was launched to reach out to all home buyers. In conversation with one of the marketing managers, we learned that 30% of customers prefer a Puravankara project when looking for a second home.

Puravankara: Giving Back to the Society

The company has been actively involved in various CSR activities ranging from education,  to improving civic amenities. They have tie ups with several NGOs such as Asha Charitable Trust, Nandan Pillai Organisation, India Foundation for Arts and several others, and continues to provide support in terms of financial aid for the same and also by organizing events. In addition, the company has contributed towards maintenance of parks, roads, flyovers and other civic amenities, by associating with Government of Karnataka. Some of the examples are War Memorial Park on Brigade Road, Marathalli flyover, Suvarna Park in Domlur and so on.

The company has been recognised and awarded time and again for their innovative approach to residential projects. The founder himself has received many accolades for his achievements in the field of real estate. Residential project of the year award for Purva Venezia in 2014 by Realty Plus Excellence Awards, Scroll of Honour Award Real Estate Conclave & Excellence Awards (south) for Mr. Ravi Puravankara in 2014, Brand Excellence Award in Real Estate at the ABP Brand Excellence Awards in 2013, and the list goes on.

With this whole experience of learning about a noted real estate development company, interacting with its employees and hearing about what customers have to say, I could conclude that a company which puts its stakeholders first and practices good work ethics, will invariably thrive in today’s competitive world, since, the last say remains with none other than the customers themselves.

Puravankara Group — IPO Style Pricing

Innovation is the key to success in any business today. This is a very generic statement which we all agree to, but interpret in our own ways. Especially in the real estate sector, a majority of real estate developers have limited their innovative approach to either designing their products or planning their Ad campaigns, and in certain cases, both. No doubt these strategies appeal to a home buyer, if he sees potential in the project offering; but, what would leave a long-lasting impression, is the feeling of being empowered.

The Puravankara Group, which prides itself in following the most professional business practices, made a breakthrough in the year 2013, when, instead of pricing their projects themselves, they decided to give their consumers the power to decide prices for homes they would invest in. This was another feather in the cap for  the company which places consumers at the centre of its business model, which, according to their chairman, Mr. Ravi Puravankara, is the secret behind their success.

IPO Style Pricing by the Puravankara Group: How does it work?

Shunning the conventional method of pricing a property and then inviting applications from the customers, the Puravankara Group decided to handover the decision making to interested parties for a particular project. This method  draws inspiration from the practice of Initial Public Offering followed in the share market. The Group sets a price range for a particular project, at a pre-launch stage; prospective buyers are then invited to an event, where they are briefed on the project specifications, location, amenities, themes, and other aspects. Based on this information, they can decide how much they are willing to pay for the project and select a price from the range specified. This is termed as collecting the buyer’s expression of interest (EOI).

The Puravankara Group has been following this technique for almost all their projects since September 2013, and it has proved to be quite profitable both in the financial aspect and the consumer relationship. This practice helps in faster revenue generation, quicker bookings, resulting in lesser debts. Another subtle advantage of this method is that a home buyer feels involved in the project he is about to invest in, from the pre-launch stage itself, which will result in a good home buying experience for him.

Purva Palm Beach by Puravankara Group, Bangalore -- Picture of the buildings (still under construction) as seen from the the site.
Purva Palm Beach by Puravankara Group, Bangalore

The Benefit of this Pricing Strategy

This innovative approach to property pricing, has earned the Puravankara Group many loyal customers over the years and continues to do so. We also learnt that about 30% of home buyers consider Puravankara for their second home option. Further, this practice adds more transparency to the customer-developer transactions and establishes a strong bond between the two. Many recently launched projects such as Purva Palm Beach and Purva Westend in Bangalore and Purva Silversands in Pune have profited from this type of pricing. While in conversation with the marketing team of the Puravankara Group office in Bangalore, we learnt that around 70% of sales in Purva Westend can be attributed to this method, and people prefer it because it offers good flexibility and a sense of control over their investment.

Purva Westend (PC: Puravankara Group)
Purva Westend (PC: Puravankara)

With an unconventional approach to sales, innovative and ‘best in the market’ construction techniques, attractive theme based projects, and many more credits in its kitty, the Puravankara Group has emerged as a consumer-centric real estate developer and promises to tread the same path by always putting the consumers first.

Follow our coverage of Puravankara on PropStory.

Purva Palm Beach – Location, Specifications, Pricing, and Other Quick Facts

Purva Palm Beach



Today’s real estate market is ruled by competition. Real estate developers are constantly exploring new means to ‘stand out’ in the property business, primarily to secure a reputation and build long lasting relationships with their customers. The Puravankara Group has attempted a creative twist in their latest Bangalore-based project Purva Palm Beach, which is located just off Hennur Main Road.

The entire project is being built around the theme of a Tropical Beach Resort. It comes equipped with a central lagoon and an exclusive set of amenities which will appeal to beach lovers. The construction contract has been given to JMC Projects, who have over 3 decades of experience in engineering and construction projects. What’s more, this project has been registered under RERA, with its registration number as PR000091.

Approach road built and maintained by Puravankara Group
Approach road built and maintained by Puravankara Group
Purva Palm Beach Sales office
Purva Palm Beach Sales office


Updates as of November ’17 –

Purva Palm Beach, a project built on a Tropical Beach Resort theme is well on its way to the completion phase. The project’s possession handover will be by March 2019.The current sizes and prices for units offered in the project include:

Apartment Configuration Area (in sq. ft.) Price (in Rs. Lakhs)
2 BHK 1232 – 1341 94.32 – 122
3 BHK 1482 – 1791 115 – 161

Purva Palm Beach: Location

The project site is conveniently located just 1km off the Hennur-Baglur Main Road, which is a preferred alternate route to the Kempegowda International Airport.The most popular landmark here would be the BiOZEEN Park. The nearest mall is Elements Mall on the Thanisandra Main Road which is around 3kms away. A wide road has been constructed and maintained by the Puravankara Group, which connects the project site to the Horamavu-Agara Road. Furthermore, there are open fields, farm houses, and dense tree growth all round the project site which makes living here all the more appealing.

The Hennur-Baglur Main Road is well equipped with hospitals, schools, and other educational institutions. Various commercial centres and IT parks like the Manyata Tech Park are merely 4 km away from the Purva Palm Beach project site. In addition to this, the proposed Metro Phase 2A includes a station at Nagavara which is just 3 km from the project location. This will ensure hassle-free connectivity for the residents.

Purva Palm Beach: Prices & Specifications


Purva Palm Beach is spread over a sprawling 19.35 acres of land, and is coming up in three phases. Phase I consists of 9 blocks which all have a G+19 structure. The 9 towers consist of 702 units of both 2 BHK and 3 BHK apartments. These apartments are being offered at a base price of Rs. 5,310 per sqft. The floor rise charges(Rs. 20 per sqft per floor), PLCs, Club House charges and taxes will be separate. The 2 BHK homes will have an area range of 1,232–1,346 sqft and 3 BHK 1,482–1,846 sqft. Accordingly, a 2 BHK here would cost around Rs. 84.3 lakh onwards and a 3 BHK around Rs. 1.12 Cr.

These home units are available in ultra premium, super premium, premium, and classic varieties depending on the type of views. For example, an ultra premium home will have a lagoon facing view, super premium will have a semi lagoon view, amenities facing homes will fall under the premium category and garden facing ones under classic. Every floor will have 4 apartments and every block will have 2 lifts.

Meanwhile Purva Waves, Phase II of the project, is coming up in 6 towers with 472 homes in all. In Phase I, around 620 out of the 702 units, have already been sold. While for Phase II, 50% of of the units have been booked. Phase III launch/pre-launch has not been planned as of yet. However, Phase I and Phase II homes will be ready for handover by 31st March 2019.

View of the Koi pond
View of the Koi pond
Fish in the Koi pond
Fish in the Koi pond

Purva Palm Beach: Payment options

Purva Palm Beach apartments are available through attractive finance schemes: 10-80-10 method, or the construction linked plan. For the former, Puravankara Group has tie-ups with ICICI and HDFC bank to carry out the sale. One can opt for nationalised banks as well. If one were to choose the construction linked plan, the developer offers a few percentage points of discounts in prices.

Purva Palm Beach: Amenities & Other Highlights

To begin with, the theme of Purva Palm Beach was what drew us to the project. It was absolutely enticing to see elaborate plans for materialising a full-fledged beach resort amidst the concrete jungle in Bangalore. A massive lagoon is planned to adorn the central area of the property, along with a wave pool, a snorkelling zone, a sunken bar, koi pond, barbeque deck, a beach volley ball court, and many such beach side attractions. This will make living here feel like a stay at a luxury resort.

Secondly, homes in Purva Palm Beach will have smart home automation systems. And finally, two club houses have been planned for the entire township. These will house a state of the art gymnasium, indoor sports court, community hall, aerobics centre and other facilities.

The Puravankara Group has a similar themed project, Purva Silversands in Pune, which is again making headlines in Pune’s property market. With yet another refreshing theme in their kitty, Puravankara Group with Purva Palm Beach is all set to lure consumers with a penchant for lavish, resort like lifestyle. Add to it the pristine locations and quality access road, one might find this project to be a good option, away from humdrum of the city.