Puravankara Provides ₹50 Crore Corporate Guarantee to Associate Pune Projects LLP
Puravankara Supports Pune Projects LLP with ₹50 Crore Guarantee
Puravankara Limited has provided a corporate guarantee of ₹50 crore to its associate Pune Projects LLP for credit facilities from RBL Bank Limited. The guarantee, disclosed on March 23, 2026, under SEBI Regulation 30, creates a contingent liability for the company.
Supporting Pune Residential Development
Pune Projects LLP is developing the Purva Atmosphere project, registered under MahaRERA as Purva Atmosphere Tower 2 (Registration No. P52100078951) and Purva Atmosphere Tower 3 (Registration No. P52100078943). The entity is registered at Ground floor (East side), Amenity, Florida Estates Keshav Nagar, Mundhwa, Pune.
Financing Structure and Governance
Pune Projects LLP plans to avail credit facilities of up to ₹50 crore from RBL Bank. Puravankara Limited has clarified that promoter, promoter group, and group companies do not have any interest in this transaction, with only Pune Projects LLP interested in the arrangement, ensuring appropriate corporate governance standards.
According to the disclosure, there is currently no impact of this guarantee on the company's financial position. Promoter groups have no interest in this transaction, and the company reports no current impact from this guarantee arrangement.
Regulatory Compliance
The company made this disclosure on March 23, 2026, in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was signed by Sudip Chatterjee, Company Secretary and Compliance Officer, ensuring proper authorization and compliance with regulatory standards.
About Puravankara and Its Pune Presence
Founded in 1975, Puravankara Limited is one of India's most admired and trusted developers. The company has its headquarters in Bengaluru. For five decades, the brand has been built on an unwavering commitment towards customer delight, responsibility, and trust.
Puravankara has launched three prominent brands. Puravankara itself is recognized for its luxurious, state-of-the-art projects that incorporate innovative technology to redefine future homes. Provident Housing Ltd., a wholly owned subsidiary launched in 2008, addresses the needs of mid-income homeowners.
The Group has major operations in Bengaluru with considerable presence in other cities such as Chennai, Kochi, Hyderabad, and Pune. Bengaluru contributed 50% of sales in recent periods, while Mumbai and Pune increased their share to 24%.