Provident Housing

completed

Puravankara Limited (“Puravankara” or the “Group”) is one of the leading housing developers in Southern India, whose business is largely focused on southern and western India. The Group is primarily focused on residential real estate operating under two brands: “Puravankara” for luxury and higher-income housing and “Provident” for affordable housing. The proposed investment for an amount aggregating up to INR 5,560 million (approximately US$76 million) - by IFC for up to INR 3,160 million (approximately US$43 million) and by IFC Emerging Asia Fund, LP (EAF) for up to INR2,400 million (approximately US$33 million) would be made in one or more Special Purpose Vehicles (SPVs) set up by the Group, for the development of three or four housing projects under the Provident brand, including the identified projects in Kochi and Bengaluru (collectively the Project). The Project entails the development of approximately 4,000 housing units over the next five to seven years under the two identified projects, in planned and green urban spaces in micro markets with shortage of reasonably priced good quality housing units.