Provident Housing (PHL), a 100% subsidiary of Puravankara Group, on Thursday announced its new project in Kochi with a project value of Rs 3,000 crore. It is one of the four projects for which Provident has received an inflow of capital from the International Finance Corporation (IFC) and the IFC Emerging Asia Fund.
Ashish Puravankara, managing director, Puravankara Limited, said, “One of the driving forces behind Provident Housing is upending the notion that luxury and affordability are mutually exclusive. We are delighted to debut our first premium-affordable offering of Kerala in Kochi. Over the last few years, we have witnessed the city scale its infrastructure and simultaneously position itself as a cultural capital. With this new venture, we aim to create a landmark in the city while providing an unmatched living experience for its residents.”
Abhishek Kapoor, CEO, Puravankara Limited, said every element of the Provident Winworth project is informed by the rich heritage of Malabar. “It will be the largest mixed-use development in Edappally with retail and commercial elements, making it inclusive and accessible. As always, our highest priority is to offer quality homes that enrich and elevate the homebuyer’s lifestyle,” he said.
The project will be introduced in the market through an innovative quasi book building method. Fundamental ‘demand-supply’ metrics will drive the price discovery process. The pre-booking process offers comprehensive product information to prospective buyers, along with a ‘price band’ for each type of unit. Expressions of interest from prospective buyers help gauge the project’s demand and achieve a data-driven pricing decision.
