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Puravankara Projects plans to build 4-4.5 million sq. ft of commercial office space over the next few years and monetize non-core land parcels to reduce debt
The board of Puravankara (formerly Puravankara Projects) on Tuesday approved an enabling resolution to exit from the investment of ₹403 crore at Raidurg, Panamaktha village.
Sun Pharma | Maruti Suzuki | Redington | Sasken Communications | Voltamp Transformers | Strides Arcolab | JK Paper | Edelweiss Financial | Tata Metaliks | Hinduja Ventures | Suzlon Energy | Mahindra & Mahindra Financial and Hinduja Ventures are stocks, which are in the news today.
The company's Q2 (August-September) net profit rose 55.9 percent at Rs 42.1 crore versus Rs 27 crore, in the same quarter last fiscal.
Puravankara Projects reported a 56.17 per cent rise in Q2 profit at ₹42.12 crore, against ₹26.97 crore in the same period last year. Revenues were 10.94 per cent lower at ₹377.53 crore (₹423.94 crore).
Puravankara Projects informed the exchange that the company's consolidated net profit (PAT) increased by 41% to Rs 42.12 crore in Q2 FY17 as compared to Rs 26.97 crore in Q2 FY16.
GOL Offshore, Electrosteel Steels, NLC India, Jindal Steel & Power, MMTC, Seamec, Puravankara Projects and SAIL will announce their Q2 and half-year results on Thursday. Besides, the board of Banco Products (I) will meet to consider a buyback proposal. Jyothy Laboratories will consider a proposal to raise funds through issuance of new non-convertible debt securities on private placement basis. Analysts will follow the developements closely.
Fourteen realty stocks tumbled 2.74% to 22.48% at 11:17 IST on BSE as the sector is expected to feel the heat of the government's move to phase out the old Rs 500 and Rs 1000 notes.
Investors can buy an undivided share of floor space in Purva Primus, a modern office building at Thoraipakkam on the IT Corridor to the south of Chennai and lease it back to the developer, who will let it out on rent and manage the property, said Anand Narayanan KB, President – Sales, Marketing & CRM, Puravankara Projects, outlining the scheme launched previously in Bengaluru and Hyderabad.
Moody’s Investors Service on Tuesday upgraded the corporate family rating for Tata Motors to ‘Ba1’ from ‘Ba2’ while reiterating its stable outlook for the company. Strong performance from Jaguar Land Rover and improvement in Tata Motors’ domestic operations, particularly the commercial vehicle segment, has led to an upgrade in ratings for the company, Moody’s said in the press release. Moody's expect expect JLR to continue to dominate the group’s revenue and EBITDA (earnings before interest, taxes, depreciation and amortisation), with its broadening product range.
The real-estate company has sought approval of its shareholders for raising funds through NCDs and changing the name of the company through postal ballot.
Realty firm Puravankara Projects plans to raise up to Rs 1,500 crore by issuing non-convertible debentures for execution of its projects.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - YES Bank, SAIL, Puravankara Projects, IDBI Bank, Zensar Technologies and JSPL.