Puravankara Is Presumed To Make Deal With Jaypee
The plan of buying land in NCR is refuted by Puravankara’s Joint MD Ashish Puravankara. But he said that as a customary course of business, now and then several joint development prospects will be assessed in different regions.
Puravankara which has it’s headquarter in Bangalore is marking its venture into North India. There are also chances to make deal with Jaypee. Some sources say that Puravankara overlooking the gold course of Jaypee may either purchase a land of 10 acre in Noida or even it may go for a joint development agreement with Jaypee in order to convert the plot into extravagance housing. It is also said that it may cost Rs. 3700/sq ft.
On the other hand, the plan of buying lands is denied by Ashish Puravankara who is the joint managing director of Puravankara. But he said that the company would look for joint development opportunities in different regions periodically.
What Ashish Puravankara said in the interview with Nayantara Rai on CNBC-TV18?
He was asked for the reason why he is very specific about entering into the National Capital region, is it due to the declined prices.
Ashish Puravanakra denied the plan of purchasing in NCR. He said that they have not planned for any deal with any other company for land purchase. He also said that it is a regular practice for the company to look for joint development opportunities periodically in various regions.
The Interviewer wanted to make clear from Puravankara whether he is in search of joint development agreements.
Ashish Puravnakara answered that the company is in search of opportunities in both joint development space and construction.
The interviewer asked, from the sources it has been said that Puravanakra is looking for markets in Noida where there is a land parcel near golf course, so that it can be converted into luxury housing.
Ashish answered that it is one of the proposal which is evaluated by the company since a month ago and have not taken it and further and also added that it is once again for joint development.
The interviewer asked whether any money is allotted particularly to NCR and also asked whether it is going to be a joint venture, as the firm has sketched to do joint development agreement. He also added, whether he is looking for people who hold the land and the company can show its proficiency of construction and profit can be shared.
Ashish explained that the plan is to show the power of brand which has been made up over a period of time. Therefore, the land owner will still own the land and will put a small amount as capital which will be considered as a security deposit. Subsequently, the project will be launched by the developer and the land owner will subsidize the construction.
The Stock Price Of Puravankara
Puravankara projects quoted Rs.92.30, up Rs.1.70 or 1.88 percent at 10.58 hours on November 28, 2014. In 52 week, the highest of the share was Rs. 133.90 and the lowest was Rs. 50.00.
The trailing 12 month EPS of Puravankara was at Rs. 4.16 per share according to the quarter ended September 2014. The P/E ratio of the stock was 22.19. The recent book value is Rs. 76.36 for each share. The current book value is 1.21.
Article Source: Money Control
