Puravankara scouting for land in north and west India
The company expects to reduce its total debt, which currently stands at Rs 1,337 crore, he said, adding, "the money that we will raise through sale of apartments of our new projects will be used to reduce our debt. At present the debt equity ratio is 0.74 which we expect to reduce to 0.60-0.65 by the next fiscal."
Puravankara has a significant presence in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the UAE, Saudi Arabia and Sri Lanka.
The BSE-listed company has successfully completed 34 residential and two commercial projects encompassing 7.80 million sq ft.
Currently, it has 25 million sq ft of projects under development with an additional 88 million sq ft in projected development over the next 7-10 years.
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