<p>Bengaluru: Provident Housing Ltd, the value housing arm of Bengaluru-headquartered real estate major Puravankara Ltd, feels positive about being hived off from its parent company, Chief Executive Mallanna Sasalu indicated, while speaking to <em>DH</em> on the sidelines of a select media interaction here on Wednesday.</p>.<p>“As and when the shareholders of the company and everybody starts to think yes, there is a greater value for a spin-off, then that will happen. For the greater value to be under the mother company, we continue to be there (till then),” Sasalu told DH.</p>.<p>“The spin-off can be in many ways. It can be public, some investors can come in, anything can happen,” he further added.</p>.Waters Corp inaugurates $16 mn GCC in Bengaluru.<p>As reported by<em> DH</em> in August, Sasalu also announced a Rs 3,800 crore expansion plan spanning 5.8 million square feet, over the next five years. </p>.<p>“We’ve already launched two projects, there are three more pending for the year - one is coming up in Bengaluru, one in Kochi and the other one in Chennai,” he said.</p>.<p>Furthermore, the realty player that is synonymous with “affordable housing” for many generations of Indians, does not wish to be identified with a particular housing bracket. Operating as a “bridge-to-luxury,” the company aims to deliver utmost value to its customers in the Rs 45 lakh- Rs 1.2 crore bracket, Sasalu said.</p>.<p>Going forward, the company will continue to focus on economies of scale to deliver greater value to its customers in the said price range, he added.</p>.<p>Speaking on the state of affordable housing in India, which traditionally includes residential units priced below Rs 50 lakh, Sasalu said: “ The way people perceived affordable housing is not the same today. It has changed because market dynamics have changed.”</p>.<p>Established in 2008, the 100% subsidiary of Puravankara Ltd is present in nine cities currently - between Maharashtra to Tamil Nadu.</p>
<p>Bengaluru: Provident Housing Ltd, the value housing arm of Bengaluru-headquartered real estate major Puravankara Ltd, feels positive about being hived off from its parent company, Chief Executive Mallanna Sasalu indicated, while speaking to <em>DH</em> on the sidelines of a select media interaction here on Wednesday.</p>.<p>“As and when the shareholders of the company and everybody starts to think yes, there is a greater value for a spin-off, then that will happen. For the greater value to be under the mother company, we continue to be there (till then),” Sasalu told DH.</p>.<p>“The spin-off can be in many ways. It can be public, some investors can come in, anything can happen,” he further added.</p>.Waters Corp inaugurates $16 mn GCC in Bengaluru.<p>As reported by<em> DH</em> in August, Sasalu also announced a Rs 3,800 crore expansion plan spanning 5.8 million square feet, over the next five years. </p>.<p>“We’ve already launched two projects, there are three more pending for the year - one is coming up in Bengaluru, one in Kochi and the other one in Chennai,” he said.</p>.<p>Furthermore, the realty player that is synonymous with “affordable housing” for many generations of Indians, does not wish to be identified with a particular housing bracket. Operating as a “bridge-to-luxury,” the company aims to deliver utmost value to its customers in the Rs 45 lakh- Rs 1.2 crore bracket, Sasalu said.</p>.<p>Going forward, the company will continue to focus on economies of scale to deliver greater value to its customers in the said price range, he added.</p>.<p>Speaking on the state of affordable housing in India, which traditionally includes residential units priced below Rs 50 lakh, Sasalu said: “ The way people perceived affordable housing is not the same today. It has changed because market dynamics have changed.”</p>.<p>Established in 2008, the 100% subsidiary of Puravankara Ltd is present in nine cities currently - between Maharashtra to Tamil Nadu.</p>