Puravankara Projects trades higher on the bourses

Puravankara Projects is currently trading at Rs. 90.30, up by 6.45 points or 7.69% from its previous closing of Rs. 83.85 on the BSE. The scrip opened at Rs. 84.70 and has touched a high and low of Rs. 91.40 and Rs. 84.15 respectively. So far 156947 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 91.40 on 23-May-2014 and a 52 week low of Rs. 50.00 on 03-Mar-2014. Last one week high and low of the scrip stood at Rs. 90.50 and Rs. 74.20 respectively. The current market cap of the company is Rs. 2092.85 crore. The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.20% and 4.80% respectively. In order to boost  the sales, Puravankara Projects is reportedly offering a scheme to its customers to reduce the buyer’s overall cost of home ownership. Under the scheme, although the customer would continue to avail of a home loan at the current market rate of 10.25 per cent to 10.5 per cent from his or her bank, Puravankara would step in to reimburse 3.25 per cent of the home loan interest rate to the customer. This will effectively reduce customers' home loan interest burden to 6.99 per cent against prevailing interest rates of 10.25 per cent to 10.5 per cent. Puravankara Projects is a leading real estate company in India, with significant presence in Bengaluru, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the United Arab Emirates, Kingdom of Saudi Arabia and Sri Lanka. The company has successfully completed 41 residential and 2 commercial projects encompassing 16.52 million square feet.