Puravankara Projects, a leading real estate developer in India, climbed on Tuesday after pre-launching Purva Palm Beach in Bangalore. The project saw an oversubscription of 3 times with over 1,200 applications received as opposed to the units released for allocation during the initial pre-launch stage.

Puravankara adopted book building method with a base price of Rs 4,392/- offered customers an opportunity to book their dream home through a transparent price discovery mechanism.

Shares of the company are trading at Rs 62.55, up Rs 3.7, or 6.29% at the Bombay Stock Exchange (BSE) on Tuesday at 1:10 p.m.

The scrip has touched an intra-day high of Rs 62.60 and low of Rs 58.05. The total volume of shares traded at the BSE is 67,128.

In the earlier session, the shares rose 5.94%, or Rs 3.3, at Rs 58.85. Currently, the stock is trading down 41.87% from its 52-week high of Rs 107.60 and above 25.1% over the 52-week low of Rs 50.