Puravankara Limited
Puravankara Limited is an Indian real estate developer focused on residential and commercial projects, including housing delivered under the Puravankara and Provident brands.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Puravankara Limited is an Indian real estate development company established in 1975 by Ravi Puravankara and headquartered in Bengaluru, Karnataka. The company develops residential and commercial real estate and has operated across several Indian metropolitan and regional markets, as well as in Dubai and Colombo. Its documented Indian markets include Bengaluru, Chennai, Kochi, Coimbatore, Pune and Mumbai. The company was originally incorporated as Puravankara Projects Limited. In January 2018, it adopted the name Puravankara Limited, aligning the corporate name with the group’s principal consumer-facing identity. Its business has included multiple housing segments, with Provident serving as an important housing brand associated with more affordable residential development. The group has also been associated with the Purva brand for residential projects, although the available reference material does not provide a complete current brand architecture or portfolio list. Puravankara’s growth has involved external capital and project-level transactions. In March 2011, it raised foreign direct investment from Singapore-based Keppel Corporation. In April 2015, ASK Group invested ₹82 crore in Provident Housing, a subsidiary connected with the group’s affordable-housing activity. In December 2020, the International Finance Corporation and IFC Emerging Asia Fund invested US$76 million in affordable housing projects under the Provident brand. In April 2022, Puravankara launched a ₹750 crore fund intended for affordable housing projects, and in April 2024 Provident Housing received a ₹1,150 crore investment from HDFC Capital. The company has also undertaken land and portfolio transactions. In March 2017, Hetero Group acquired a 19-acre parcel and a 100% equity stake in companies from Puravankara Projects for ₹475 crore. During the same month, Puravankara’s board approved the divestment of its investment in Raidurg Panamaktha Village, reported at a value of ₹403 crore. These transactions illustrate the use of asset monetisation and strategic divestment alongside project development. Leadership changes have included the appointment of Abhishek Kapoor as chief operating officer in September 2019 and his subsequent elevation to chief executive officer in April 2019 as reported in the supplied reference, although the chronology is internally inconsistent and requires verification. In May 2025, Kapoor stepped down and Mallanna Sasalu was appointed chief executive officer for the South region. The available sources do not establish a complete current executive roster or provide sufficient information to assess the company’s present financial scale, project pipeline or geographic revenue mix. Puravankara is therefore best characterised as an active, publicly held Indian property developer with residential, affordable-housing and commercial-development activities.
History
Puravankara Limited traces its origins to 1975, when Ravi Puravankara established the company in India. From its Bengaluru base, the business developed a real estate portfolio covering residential and commercial property. Its documented markets eventually included Bengaluru, Chennai, Kochi, Coimbatore, Pune and Mumbai in India, together with activity in Dubai and Colombo. The company operated for many years under the name Puravankara Projects Limited before changing its corporate name to Puravankara Limited in January 2018. The change reflected the company’s established Puravankara identity and distinguished its corporate presentation from the individual projects in its portfolio. The group also developed an affordable-housing platform under the Provident name. Capital partnerships became an important feature of the company’s development. In March 2011, Puravankara raised foreign direct investment from Keppel Corporation of Singapore. In April 2015, ASK Group provided ₹82 crore to Provident Housing. In December 2020, the International Finance Corporation and IFC Emerging Asia Fund invested US$76 million in Provident affordable-housing projects. The company subsequently announced a ₹750 crore fund for affordable housing in April 2022, while Provident Housing received a ₹1,150 crore investment from HDFC Capital in April 2024. Puravankara also used transactions involving land and corporate interests to reshape its asset base. In March 2017, Hetero Group acquired a 19-acre parcel and a 100% equity stake in companies from Puravankara Projects for ₹475 crore. In the same month, the board approved divestment of the company’s investment in Raidurg Panamaktha Village, described in the supplied reference as being valued at ₹403 crore. Leadership changes recorded in the available material include Abhishek Kapoor’s appointment as chief operating officer in September 2019 and his later association with the chief executive role. The reference gives an April 2019 date for the latter appointment, which precedes the stated September 2019 COO appointment and therefore needs independent confirmation. In May 2025, Kapoor stepped down and Mallanna Sasalu became chief executive officer for the South region. Based on the available material, Puravankara is an active Indian property developer whose principal scope is residential and commercial real estate. Its history combines geographic expansion, affordable-housing development, external institutional capital and selective asset divestment. The supplied sources do not provide a sufficiently detailed account of individual projects, current management beyond the South-region appointment, annual financial performance or a complete contemporary corporate structure.
- 2025
South-region leadership change
[1]Mallanna Sasalu was appointed chief executive officer for the South region after Abhishek Kapoor stepped down.
- 2024
HDFC Capital investment
[1]HDFC Capital invested ₹1,150 crore in Provident Housing.
- 2022
Affordable-housing fund launched
[1]Puravankara launched a ₹750 crore fund focused on affordable-housing projects.
- 2020
IFC affordable-housing investment
[1]IFC and IFC Emerging Asia Fund invested US$76 million in affordable-housing projects under Provident.
- 2018
Corporate renaming
[1]Puravankara Projects Limited changed its name to Puravankara Limited.
- 2017
Asset transactions
[1]Hetero Group acquired a 19-acre parcel and company interests from Puravankara Projects, while the board approved a separate divestment related to Raidurg Panamaktha Village.
- 2015
ASK Group investment in Provident Housing
[1]ASK Group invested ₹82 crore in Provident Housing.
- 2011
Keppel foreign investment
[1]Puravankara raised foreign direct investment from Singapore-based Keppel Corporation.
- 1975
Company established
[1]Ravi Puravankara established the real estate company that became Puravankara Limited.
Products and positioning
A multi-market Indian real estate developer spanning mainstream residential, affordable housing and commercial property, with Provident positioned around affordable housing.
Residential real estate
Puravankara residential developments
The Puravankara name is used for the group’s principal residential real estate activity. The company has developed housing projects in multiple Indian cities, including Bengaluru, Chennai, Kochi, Coimbatore, Pune and Mumbai. The supplied sources do not provide a complete list of projects, specifications or current inventory.
Affordable housing
Provident
Provident is the group’s affordable-housing brand and platform. It has attracted capital from ASK Group, IFC, IFC Emerging Asia Fund and HDFC Capital, and has been associated with the group’s affordable-housing projects and investment strategy. Detailed project-level product information is not provided in the available reference material.
Commercial real estate
Commercial real estate projects
Puravankara operates in the commercial real estate sector in addition to housing. The available material confirms this business scope but does not identify a complete set of commercial developments, asset types or current operating markets by project.
Brand decisions
2025
South-region leadership transitionOtherBackground
Abhishek Kapoor stepped down from his role at Puravankara.
Action taken
Mallanna Sasalu was appointed chief executive officer for the South region.
Aftermath
The available reference does not describe subsequent changes to the company’s strategy or performance.
2022
Affordable-housing investment fundStrategyBackground
Puravankara sought to expand its affordable-housing activity.
Action taken
The company launched a ₹750 crore fund for investment in affordable housing projects.
Aftermath
The available material does not report the fund’s deployment, returns or completed investments.
Fund size. ₹750 crore (April 2022)
2018
Corporate name change to Puravankara LimitedStrategyBackground
The company had operated under the name Puravankara Projects Limited.
Action taken
The company changed its legal corporate name to Puravankara Limited.
Aftermath
The company continued operating under the Puravankara identity. The available reference does not state additional strategic consequences.
2017
Divestment and asset-transfer decisionsM&ABackground
Puravankara Projects undertook portfolio actions involving land and corporate interests during March 2017.
Action taken
Hetero Group acquired a 19-acre parcel and a 100% equity stake in companies from Puravankara Projects for ₹475 crore. Separately, the board approved divestment of the investment in Raidurg Panamaktha Village, reported at ₹403 crore.
Aftermath
The transactions represented asset monetisation and portfolio restructuring. The available material does not describe their subsequent operational effects.
Transaction values. ₹475 crore acquisition transaction; separate divestment reported at ₹403 crore (March 2017)
Recent events
- 2025
Leadership transition at Puravankara South[1]
Leadership change
Abhishek Kapoor stepped down, and Mallanna Sasalu was appointed chief executive officer for the South region.
- 2024
HDFC Capital invests in Provident Housing[1]
M&A
Provident Housing received a ₹1,150 crore investment from HDFC Capital.
- 2022
Puravankara launches affordable-housing investment fund[1]
Other
Puravankara launched a ₹750 crore fund to invest in affordable housing projects.
- 2020
IFC and IFC Emerging Asia Fund invest in Provident affordable housing[1]
M&A
The International Finance Corporation and IFC Emerging Asia Fund invested US$76 million in affordable housing projects under Provident.
- 2019
Abhishek Kapoor joins Puravankara leadership[1]
Leadership change
Abhishek Kapoor was appointed chief operating officer and was later reported as being elevated to chief executive officer. The supplied reference gives inconsistent dates for these changes.
- 2018
Puravankara Projects changes its corporate name[1]
Other
Puravankara Projects Limited changed its name to Puravankara Limited.
- 2017
Hetero Group acquires land and company interests from Puravankara Projects[1]
M&A
Hetero Group acquired a 19-acre land parcel and a 100% equity stake in companies from Puravankara Projects for ₹475 crore.
- 2017
Puravankara board approves divestment related to Raidurg Panamaktha Village[1]
M&A
The board approved the divestment of the company’s investment in Raidurg Panamaktha Village, reported at a value of ₹403 crore.
- 2015
ASK Group invests in Provident Housing[1]
M&A
ASK Group invested ₹82 crore in Provident Housing, supporting the group’s affordable-housing platform.
- 2011
Puravankara receives foreign investment from Keppel Corporation[1]
M&A
Puravankara raised foreign direct investment from Singapore-based Keppel Corporation.
Sources2 sources
Cite this profile: Cite the canonical profile. /brand-wiki/puravankara-limited · Editorial policy · How profiles are compiled