Ravi Puravankara : A Realty Visionary

Ravi Puravankara

In 1975, the promise of Mumbai, India’s business epicentre lured a young man to its glitzy shores. In a quintessential narrative, he came to the city with big dreams, bolstered by little more than grit and determination.  He foresaw a unique opportunity for high-quality property development in the thriving metropolis and with a single-minded focus and a steely resolve he pursued his vision.  The prodigious youngster, who made his initial forays into real-estate at a very early age, is today listed among Forbes’ ‘100 Wealthiest Indians’ list. Among his numerous laurels, Ravi Puravankara was endowed with the ‘Lifetime Achievement’ award at the Realty Plus Excellence Awards-2012, Lifetime Achievers Awards for Outstanding Contribution to Real-Estate Sector at the CMO Asia Awards for Retail Excellence – 2013, ‘Scroll of Honour’ award at the Realty Plus Conclave & Excellence Awards – 2014 (South), BRAND ACHIEVERS AWARD – Lifetime achievement Award  for Excellence – 2015, 9th REALTY PLUS EXCELLENCE AWARDS (SOUTH) 2017 – Scroll of Honour and BAM (Builders, Architects & Building Material) Awards 2018 for – Life Time Achievement Award, to name a few.

Ravi Puravankara
Ravi Puravankara

His foray into the world of Real Estate when he chanced upon he had an opportunity “that wouldn’t wait” – a chance to procure a stretch of land in his desired locality, thereby founding Puravankara Limited (PL), and the rest is history. Since then, the company has grown from strength to strength, having successfully completed 62 residential townships & five commercial parks spanning 40 million square feet. Currently, it has about 29 million square feet of projects under development, with an additional 70 million square feet in projected growth over the next 7-10 years.

When Ravi Puravankara decided to expand his base to Bangalore in 1985, the disruptive innovation that he bought in the realty landscape was a sight to be reckoned with. It was like a new wave of apartment scene in the garden city which was partial to bungalows and independent homes. At the time, the standard norm here was not more than 10-15 flats in a complex, but he envisioned the future built one with 660 apartments, the very first in Bangalore. Working on that scale, he ushered in the concepts of a clubhouse, a swimming pool and multiple amenities within the community. This indeed was the beginning of the ever-expanding Bangalore real estate market.

Puravankara prides itself on continual innovation to meet evolving market needs. In 2008, Ravi Puravankara had yet another epiphany.   This time he conceived a vision for housing the burgeoning mid-income segment, it was an idea he was tinkering with since the early 2000s, always ahead of the curve. Under his aegis, Provident Housing Limited, a wholly owned subsidiary, was established to address the aspirations of upwardly mobile Indians and first-home buyers. The pioneering ‘premium affordable’ Provident proposition would bring best-in-class homes at affordable prices, underscored by a rigorous value-engineering process than reins in costs.  The proposition has so far been very well received in the market with nearly 11 million square feet of projects now under development. As demand continues abated, the company plans to further augment its presence in this segment.

Ravi Puravankara, who founded the Puravankara Group in 1975, is the chief promoter and the driving force behind the company’s meteoric growth, fuelled by his prescient vision. The group, which began its operations in Mumbai, has established a sizeable presence in the metropolitan cities of Bangalore, Chennai, Coimbatore, Hyderabad, Kochi, Mangalore, Pune, Goa, Kolkata and in overseas locations such as Sri Lanka, Dubai and Saudi Arabia. The flagship parent company, Puravankara Limited, is listed on the Bombay stock exchange.

Driven by the foresight and vision of Ravi Puravankara, Puravankara Limited also has the distinction of being the first developer to obtain FDI in the Indian real estate industry through its joint venture with Singapore based Keppel Land Limited, the property arm of the 54% (Singapore) government-owned conglomerate, Keppel Corporation Limited. The joint venture company, Keppel Puravankara Development Private Limited, has on-going housing projects across the country.

Puravankara’s strong track-record and Institutional strengths set the company apart in the realty sector. Their commitment to corporate governance has ensured accountability, fairness and transparency in all the processes. This has also made Puravankara Limited one of the most trusted companies in the Industry. This is a clear reflection of Ravi Puravankara’s values and believes and which he always carried on his sleeves and ensured the the same is followed by the last employee in his group of Companies. His employees, from the 400-odd people, who were in the company five years ago, grew to the 900 plus employees today, work cohesively as a unit to accomplish what he set out to do – help people achieve their dreams!

Exchange Your Home For A Branded One At Puravankara’s Big 72 Home Fest

Puravankara Big 72 Home Fest

The Puravankara Group has a wide footprint in real estate in South India. The company prides itself as a very consumer-centric real estate developer, letting their consumers’ interests and needs take precedence. Toward this end, Puravankara is coming up with the Big 72 Hours Home Fest between 15th-17th June 2018. The fest offers an opportunity to choose from a wide choice of ready and under-construction portfolio of both Puravankara and Provident. The fest will take place in Bangalore at Hotel Lalit Ashok. An unique feature of this fest is the unveiling of ‘India’s First Home Exchange Plan’.

Puravankara Big 72 Home Fest
Puravankara Big 72 Home Fest

Homebuyers who are looking to upgrade from their current homes to a Puravankara or Provident branded home can avail of the services of a number brokers, valuation experts, realtors and similar professionals who will be present at this fest to help customers sell their homes. All customers looking to buy a home at this fest can grab the opportunity by availing various finance schemes, discounts and finance plans on offer. Special Big 72 prices of all properties on offer will be unveiled on the 15th of June. Further details are available here.

Some of the properties that customers can choose from in Bengaluru include:

Purva Venezia, Yelahanka @ Rs. 5650/sq. ft.

Purva Venezia
Purva Venezia

Purva Skywood, Off Sarjapur Road @ Rs. 6400/sq. ft.

Purva Palm Beach, Off Hennur Road @Rs. 5990/sq. ft.

Provident Sunworth, Nice Junction @ Rs. 45 Lakh onwards

Purva Westend, Hosur Road @ Rs. 6790/sq. ft.

Purva Westend
Purva Westend

Provident Welworth, Yelahanka Doddaballapur Road @ Rs. 3750/sq. ft.

Provident Rays of Dawn, Nice Junction @ Rs. 45 Lakh onwards

The Puravankara Group known for its professional business practices is one of the more renowned names in the real estate sector over the past 4 decades.  They have an undoubtedly enviable brand image that has made them one of the most sought after names. The Puravankara Group is led by Mr. Ravi Purvankara and is head quartered in Bangalore. The real estate company is backed by prominent investors and is listed on Indian stock exchanges. After having built a strong foundation in Bangalore with popular projects such as Purva Riviera and Purva Venezia, the company has ventured into various geographies in West and South India.

Purva 270
Purva 270

Apart from Bangalore, they have a business presence in Mumbai, Pune Chennai, Hyderabad, Kochi, Coimbatore and Dubai. The company runs a premium housing segment under the brand name Puravankara. A budget housing venture is run under the name Provident. Puravankara develops projects that are priced above 60 lakhs while under the Provident brand name projects priced below 60 lakhs are developed.

Purva Big 72 Hrs Home Fest – Be There between 15 – 17 Sept for Big Savings on Homes.

Big 72 Hours Home Fest, Puravankara

The Puravankara Group known for its professional business practices is one of the most renowned names in the real estate sector over the past 4 decades.  They have an undoubtedly enviable brand image that has made them one of the most sought after names. The Puravankara Group is led by Mr. Ravi Purvankara and is head quartered in Bangalore. The real estate company is backed by prominent investors and is listed on Indian stock exchanges. After having built a strong foundation in Bangalore with popular projects such as Purva Riviera and Purva Venezia, the company has ventured into various geographies in West and South India.

Apart from Bangalore, they have a business presence in Mumbai, Pune Chennai, Hyderabad, Kochi, Coimbatore and Dubai. The company runs a premium housing segment under the brand name Puravankara.  A budget housing venture is run under the name Provident. Puravankara caters to projects that are above 60 lakhs and Provident caters to projects that are 60 lakhs or below.

Big 72 Hours Home Fest , Puravankara
Provident Green Park – Coimbatore

They were ISO 9001 Certified by DNV in 1998 and have a DA2+ rating by CRISIL. 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, it isn’t surprising that Puravankara is such a trusted name.

Few of their prominent projects would be Purva Palm Beach and Purva Westend, Purva Coronation Square, Purva 270 in Bangalore, Purva Siver Sands in Pune.

Big 72 Hrs Home Fest, Puravankara
Provident Freedom Chennai

The Puravankara Group is a very consumer centric real estate developer and they always put their consumers’ interests and needs first.  Keeping this in mind, Puravankara is coming up with the Big 72 Hours Home Fest between 15-17 September. The fest gives an opportunity to choose from ready and under construction portfolio of both Puravankara and Provident at discounted prices, easy finance schemes and other freebies.  The fest will take place in Bangalore at Hotel Lalit Ashok and at Chennai at Hotel Hyatt Regency.

For further information please check out the following link :

http://www.puravankara.com/Big72/

Provident Skyworth, Derebail, Mangalore

Provident Skyworth: Overview

Owing to its history, heritage, diverse culture and connectivity, Mangalore has always been a tourist hotspot. It’s not just the pristine beaches, the picturesque temples and churches and the diverse range of culinary options that Mangalore has to its credit, for in the past decade, the city has seen unprecedented industrial growth. The ongoing construction of three Special Economic Zones (SEZs) and the projected deployment of over 60000 jobs in the IT sector by tech giants like TCS and Infosys makes Mangalore a potential hub for India’s booming outsourcing industry.

With the booming job market and a great  living experience in natural settings, quite unlike the surroundings of bigger cities, a property investment in Mangalore would be ideal for not just people native to the region, but a potential place for someone looking to settle with a peaceful life.

Provident Skyworth, located in Derebail, Mangalore, is a project by Provident Housing private ltd, a subsidiary of Puravankara builders, one of the leading real estate companies in India. They have projects ongoing in Bangalore, Hyderabad, Chennai, Coimbatore and Mangalore, and are an award winning company in the Affordable homes sector.

Provident Skyworth – Aerial Projection. Source: providenthousing.com

Provident Skyworth offers 2 & 3 BHK apartments, that are affordable and also offer a luxurious living experience.

Provident Skyworth: Location and Accessibility

Provident Skyworth is situated just 1.5 kms from the Infosys campus, a convenient commute for IT employees. The area is known to be a posh residential locality, and part of Prashant Nagar layout. It is famous for the Derebail church.

Mangalore is a fairly small city, and commuting is no hassle with plenty of autos and buses available connecting the different parts of the city. Provident Skyworth lies at the center of the city and is a short drive from the airport (8 kms), the Mangalore KSRTC Bus stand (7 kms) and the Mangalore railway station (5kms). Other nearby landmarks include AJ hospital (1km) and Bharat Mall (3kms) which is in Mangalore’s Shopping center.

The neighbourhood is teeming with lots of greenery around. The hilltop location of the project offers a panoramic view of the surroundings.

Provident Skyworth lies at the hub of prime locations in Mangalore

Provident Skyworth: Amenities

Provident Housing believes in creating a rich living experience and offers a wide range of amenities keeping the convenience of residents in mind. The project will feature 324 apartment units, with 6 towers, 13 stories each. All buildings are provided with two elevators.

The project offers a relaxing, homely environment with plenty of greenery in its environs. There’s a landscape garden with a children’s play area, and also a crèche for the busy parents.

There are avenues aplenty for socializing with a clubhouse, a multipurpose hall for private parties and indoor sports like Table tennis and Billiards. For the sport enthusiasts, there’s a badminton court, a jogging track, a well equipped gym and a swimming pool.

The swimming pool at Provident Skyworth. Source: providenthousing.com

The safety and convenience of the residents is taken care of with security, full power backup, open and closed parking, fire control system, 24 hour water supply and a supermarket.

Provident Skyworth: Apartment Layout

The apartments are designed to have a good flow of air and sunlight. Source: providenthousing.com

At Provident Skyworth, only 2 BHK and 3 BHK apartments are available. All apartments have vitrified tile flooring in all rooms, the bathrooms have anti-skid ceramic tiles and the balconies have a ceramic tiles flooring. There’s also a provision for an exhaust fan in the kitchen area.

The 2BHK apartments have a floor area of 1091 sq ft. and are priced upwards of Rs. 55L. The 3 BHK apartments have two variants: 1331 sq ft. priced upwards of 65L and 1361 sq ft priced upwards of Rs. 67L.

Variant Area (sq ft) Price
2 BHK 1091 55L+
3 BHK 1331 65L+
3BHK 1361 67L+

Provident Skyworth: Completion Status

Provident Skyworth Completion Progress. Source: providenthousing.com

The project is current ongoing completion and would be ready for possession by December 2017. The above pictures represent the completion status as of May 2017.

Conclusion

Mangalore has seen tremendous growth in the past decade and has been projected to see further development in years to come. The project’s locality is both conveniently accessible and hosts plenty of greenery. It also boasts of a variety of amenities and recreational facilities, and an aesthetic apartment design.

 

Purva Primus-Office Investments At Attractive Ticket Sizes

When one thinks of investing in real estate, housing is the first thing that comes to mind. With ‘Primus’, an IT complex by Southern India’s leading developer, Puravankara, aims to bring an appeal to investing in commercial real estate that promises excellent returns in the fast upcoming area that is the Old Mahabalipuram Road.

With the boom that has been witnessed in the IT/ ITeS industry, and the emergence of the Old Mahabalipuram Road (OMR) as an important IT corridor, a huge job market has been created. The value of office space has increased considerably after the opening of the SIPCOT IT Park, along with the many other IT parks along the OMR. While there is an abundance of office space, these are often too expensive for every company or property investor to afford. By giving an opportunity to invest in smaller office spaces, that are professionally managed and leased out, Puravankara has created a win-win situation, both for the owners and tenants.

Location

Purva Primus is well located on the IT corridor, closer to the city than bigger IT Parks like the SIPCOT IT Park. Its location provides a definite advantage for investors and employees alike. The presence of the all major IT companies along the OMR also makes it easier for business transactions and meetings to be held seamlessly.

Project

Purva Primus is a single tower with 2 basements, and rising 13 floors. The saleable area varies from floor to floor, with a three sided view of the lake next door. The building has a floor plate area of 14,000 square feet with borewell water supply. There is 100% generator backup provided, along with a sprinkler system for fire safety. The structural glazing ensures that UV rays do not enter the building and provides a noise-free, calm working environment for the employees.

Landscaping & Planning

In Primus, emphasis has been placed on lifestyles of its occupants. Being an office space, Purva has taken into account the lives of the employees who will spend a good part of the day working here, providing several amenities around the site. The terraces on intermediate levels provide views of manicured gardens and specific O2 zones, designed to provide a bit of calm whenever one need it. The location of the complex next to the lake provides a stable, calming backdrop to the office spaces within. A mini-snack bar provides a place to grab a bite at the workplace, and interact with colleagues in a more informal environment.

Alternate Income

Traditional investments include houses, gold, stocks, etc, but Puravankara opens up office space as a whole new area of investment. The IT/ITeS industry occupies around 56% of the office space in the city. Being the IT hub of Chennai, the OMR is an ideal location for this office space. Undivided shares on offer start at 350 square feet (without parking) for Rs. 28 lakhs, and 1400 square feet (with parking) for Rs. 1.13 crores.

Puravankara is offering professional leasing services for the investors and already employers have started to operate from here. Puravankara thereby provides convenience and assurance to smaller investors owning offices spaces. Property is being managed by Knight Frank, a globally renowned facility manager. The IT companies that want to lease the space approach Puravankara and the rent is passed to the investors. Office spaces provide much higher rental incomes, and are much steadier in comparison to returns in housing segment. This fact, along with the reasonable prices that Puravankara is offering, makes Primus a wise investment. With 6 companies already working out of the building, more are expected to start in the near future.

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.