Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Group, plans to invest over Rs 2000 crore to develop a 5.8 mn sq ft residential project over the next four years, with a focus on sustainable living as it embarks on the next phase of growth.
The company expects to generate more than Rs 3800 crore in revenue from the proposed projects.
With an investment of over Rs 450 crore, the company will launch its first project, Provident Ecopolitan, in North Bengaluru’s Aerospace Park. More than 60% of the 956 apartments in the proposed project are lung spaces, with sizes ranging from 625 sq ft to 1,427 sq ft and 1, 2, and 3 BHK configurations.
Mallanna Sasalu, Chief Executive Officer of Provident Housing Limited, said, “We are excited with the response ahead of the launch of our newest project Provident Ecopolitan, proving that a combination of a great product and the brand name continues to attract homebuyers. We have so far received an astounding response to the expressions of interest (EoIs) opened to the market since receipt of RERA on 11th August. We strive to provide our potential residents with a lifestyle that meets luxury paired with a greener building philosophy. This project also allows its residents to access the city’s biggest tech parks, making it a viable location for all types of homebuyers. At Provident Housing, we are dedicated to providing world-class amenities and thoughtfully designed plans for our customers, and this project will serve as a forerunner in adopting sustainable living.”
The project promises a sustainable lifestyle for its residents and has been developed at the hub of manufacturing and aerospace research facilities. Other environmentally friendly features include rooftop rainwater harvesting and the Membrane Bioreactor (MBR) STP process, which significantly lowers water demand and uses water-saving fixtures with aerators.
Provident Ecopolitan, which has sustainability at its core, will offer its owners a lush, green home with over 45 indigenous species of trees and the novel idea of “One Tree per family,” as well as an organic waste converter and solar photovoltaic cells for common area lighting.
This project will offer residents the convenience of shopping centres, a farmer’s market, an outdoor gym, a swimming pool, a nature trail, a bird-watching deck, a reflexology path, an amphitheatre with a stage, co-working spaces, TRX, a multipurpose court, a skating rink, and much more. It is located close to leading tech parks.
Provident Housing, founded in 2008, has residential developments in Bengaluru, Kochi, Mumbai, Goa, Hyderabad, Mangalore, Chennai, Coimbatore, and Pune, among nine other cities. The company is currently working on 20 million sq ft of projects, of which 13.82 million square feet have already been finished, and 9.15 million square feet are still in progress. In addition, 7.97 million square feet will be used for upcoming launches.