Puravankara to exit Rs.403 Crore investment in Karnataka

BANGALORE: Realty firm Puravankara today said its board has approved exit from a Rs 403 crore project at Raidurg in Karnataka.

In a filing to the BSE, the Bengaluru-based developer said its board has passed “an enabling resolution for exit from the investment of Rs 403 crore at Raidurg, Panamaktha Village”.

The exit would involve the sale of its entire shareholding in the company’s three wholly owned subsidiaries.

“The transaction has been authorised on a condition that total inflow should not be less than a sum of Rs 475 crore,” the company said.

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