Puravankara Projects, one of the leading real-estate developers in the country, announced that its wholly owned subsidiary Provident Housing is planning to launch its area sharing premium affordable housing development 'Provident Palm Vista' located near Shil Phata, Mumbai having a total saleable area of about 1.0 mn sq ft where its economic interest is 68.89% with certain clawback conditions.

The pricing is based on Book Building method, where the price discovery process is driven by data from fundamental 'Demand-Supply' metrics.

In addition, the company’s another 100% subsidiary T-Hills is also planning to launch its plotted development project 'Tivoli Hills' located near Devanahalli, Bangalore having a total saleable plot area of about 1.4mn sft.

Shares of the company declined Rs 0.50, or 0.38%, to settle  at  Rs 131.90.  The total volume of shares traded  was  32,327 at  the BSE (Wednesday).