In a landmark move, Provident Housing Limited (PHL), a 100% subsidiary of Puravankara Group, is set to make its first footprint in Kerala. The company has announced the launch of Provident Winworth in Kochi. With an ambitious pipeline planned for the city, this latest venture will see a project value of INR 3000 crore. It is also one of the four projects that 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.
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 (EOI) from prospective buyers help gauge the project’s demand and achieve a data-driven pricing decision.
