Puravankara Plans Prefab Housing Plant

March 31, 2010 - PRLog -- Puravankara Projects Ltd (PPL), which is looking at tapping the affordable home segment in a big way, is planning to set up a prefab housing factory in Bangalore.
The facility will come up close to the site of its affordable housing project and cost around Rs 40-50 crore.

The real estate firm’s low-cost housing subsidiary Provident Housing has already acquired the technology for prefabricated housing from Singapore-based Subarna International Consultancy Pvt. Ltd.

Ashish Puravankara, director of PPL, said his company would soon be setting up thesefactories on a need basis for our future (affordable home) projects,”he said.
Puravankara also said the company had not yet zeroed in on foreign a partner for its affordable housing projects. Mexican-based developer Homex is reportedly the leading con-tender for such a partnership.

We are in talks with various companies for the tie-up in the affordable homes segment at the moment,” he said.

PPL’s low-cost housing arm is on a lookout for an international home-builder engaged in the affordable housing segment to speed up its project delivery to 10-12 months through use of technology.

Such a move would also help it widen its reach in low-cost homes to Rs 8-22 lakh from the current Rs 15-22 lakh.

Analysts Suman Memani and Ronald Siyoni of Religare Hichens Harrison in their report on Wednesday said PPL’s proposed alliance with a foreign firm and its collaboration with Subrana for prefab housing will lead to a massive jump in revenues from affordable housing arm.

Memani and Siyoni expect further ramp up in earnings from low-csot housing in FY11.
“We expect Provident to launch 6 million square feet (msf) in Bangalore over the next quarter and a total of 30 msf in 2011 as the benefits of its international partnerships materialise,” they wrote in their report.

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Puravankara developers are involved with all sorts of commercial and residential construction projects in Bangalore, Chennai, Kochi and Mumbai