Puravankara has announced the launch of Phase 5 of its Provident Equinox residential project in Bengaluru. The new phase marks another milestone in the company's ongoing development of this residential complex.

Project Registration and Compliance

The Phase 5 launch comes with official registration under the Karnataka Real Estate Regulatory Authority (RERA). This registration ensures that the project meets all regulatory requirements and provides transparency and protection for potential homebuyers.

Strategic Market Positioning

The launch of Phase 5 demonstrates Puravankara's commitment to expanding its residential footprint in Bengaluru, one of India's major IT and commercial hubs. The phased approach to development allows the company to manage construction timelines effectively while meeting market demand.

The RERA registration provides additional credibility to the project, as it ensures compliance with statutory requirements including project timelines, quality standards, and financial transparency. This regulatory framework helps build buyer confidence in the residential market.

Puravankara shares surged more than 12% on Wednesday after the Bengaluru-based real estate developer reported strong quarterly performance, breaking a five-day losing streak. The stock climbed as much as 12.40% to ₹258.60 following the release of its December quarter business update.

Strong Financial Performance in Q3

The company delivered impressive double-digit growth across key financial metrics during the December quarter:

The strong collections growth of 22% year-on-year underscores improving cash flows for the developer, even as broader real estate sentiment has remained mixed.

Delivery and Execution Momentum

During the December quarter, Puravankara successfully handed over 1.23 million square feet, delivering 1,116 homes to customers. For the first nine months of the year, the company achieved total deliveries of 2.58 million square feet across 2,446 homes, demonstrating steady execution momentum.

Major Land Acquisitions and Project Wins

Puravankara significantly expanded its land bank during the first nine months, adding more than 12.76 million square feet of potential developable area with an estimated gross development value of ₹13,900.00 crore. The acquisitions include:

• 53.50-acre land parcel in Anekal Taluk, Bengaluru
• Large-scale partnerships in North and East Bengaluru
• Redevelopment projects at Malabar Hill and Chembur

Adding to the positive momentum, the company's wholly owned subsidiary, Starworth Infrastructure and Construction Ltd., received a letter of intent for a significant residential project:

Stock Performance Context

Wednesday's rally provided relief for investors after the stock's recent underperformance. Despite the strong quarterly update driving the 12% surge, Puravankara shares remain under pressure over a longer horizon, having declined 25.20% over the past year. The sharp positive reaction to the Q3 business update represents a notable reversal for investors tracking the real estate sector.