Provident Housing Limited: Company Research Report
Company Overview
- Name: Provident Housing Limited
- Mission: To enhance the lifestyle experience through meticulously crafted homes tailored for aspirational home ownership.
- Founded: 2008
- Founder: 100% subsidiary of Puravankara Limited
- Key People:
- Ravi Puravankara
- Anup Shah
- Mallanna Sasalu
- Amanda Puravankara
- Ashish Puravankara
- Nani R. Choksey
- Headquarters: Bangalore, India
- Number of Employees: No information is available
- Revenue: No information is available
- Known For: Large-scale community development within the residential segment, carrying the legacy of Puravankara Limited.
Products
Projects Overview
Provident Housing offers residential projects across nine cities in India, including Bengaluru, Kochi, Mumbai, Goa, Hyderabad, Mangalore, Chennai, Coimbatore, and Pune. They employ innovative design aesthetics and technology, focusing on value, trust, and quality to create exceptional community living experiences.
Key Projects
1. Provident Bayscape
- Location: Kelambakkam-Vandalur Road
- Typologies: 2 BHK, 3 BHK
- Price: ₹59.99 L onwards
- Status: Pre-Launching
2. Provident Botanico
- Location: Soukya Road, Bengaluru
- Typologies: 2 BHK, 3 BHK
- Price: ₹94.99 L Onwards
- Status: Under Construction
3. Solitaire at Provident Park Square
- Location: Kanakapura Road, Bengaluru
- Typologies: 2 BHK, 3 BHK
- Price: ₹84.99 L Onwards
- Status: Under Construction
4. Provident Deansgate
- Location: IVC Road, Bengaluru
- Typologies: 3 BHK
- Price: ₹2.09 Cr Onwards
- Status: Under Construction
5. Provident Ecopolitan
- Location: Aerospace Park, Bengaluru North
- Typologies: 2 BHK, 3 BHK
- Price: ₹92 L Onwards*
- Status: Under Construction
Key Features
- Projects feature a blend of modern design, sustainability practices, and innovative construction technologies such as pre-cast technology.
- Adopts "YOU" philosophy focusing on customer-centricity to enhance living experiences with natural lighting and cross ventilation.
Recent Developments
- Launch of New Projects: Provident Housing announced the launch of a new project in Pune and continues to expand its footprint in emerging cities.
- Partnerships: Partnered with International Finance Corporation to enhance product portfolio, especially targeting women homeowners through initiatives like #MyPinkHomes.
- Sustainability Initiatives: Released ESG (Environmental, Social, and Governance) report underscoring its commitment to sustainable construction.
- Financial Updates: Successfully raised ₹1,150 crore from HDFC Capital to fund expansion projects.
- Discounts: Offered a 2% discount to armed forces personnel to facilitate home ownership.
- Industry Recognition: Amanda Joy Puravankara was recognized as the ‘Woman Achiever of the Year in Real Estate’ at the ET Business Excellence Awards 2023.
- Sales Growth: Puravankara (the parent company) reported significant sales growth and aims for a 25-30% increase in sales in the upcoming fiscal year.
New Features & Advancements
- Introduction of bookmyhomenow.com for an end-to-end, touch-free leasing experience amid growing digital engagement.
- Innovations include smart home technologies to enhance the contemporary living environment.
Conclusion
Provident Housing Limited is an innovative leader in the Indian real estate sector, providing quality housing solutions across major cities with a keen focus on enhancing customer lifestyle experiences. The company continues to bolster its project portfolio while maintaining a strong commitment to sustainable building practices.
