With an investment of 3,500 crore, Provident Housing Ltd (PHL) has chosen to begin construction on five projects over 6.3 million square feet of land parcels in Bengaluru, Chennai, and Pune. The company launched two projects in FY22, Provident Winworth in Kochi and Provident Palm Vista in Mumbai, with a top line of $568 crore, according to COO Mallanna Sasalu. In Bengaluru, it also intended to finish 1.9 million square feet of construction this year.
PHL has five active projects in the city, including Provident Capella on Soukya Road, Provident Equinox near Mysore Road, Provident Neora in Sampigehalli, Provident Park Square in Judicial Layout, and Tivoli Hills, a plotted development project in Devanahalli. In the upcoming fiscal, PHL plans new launches in two locations, KIADB Hardware Park and IVC Road in North Bengaluru. PHL expects to build 3,000 apartments over nine cities in the upcoming fiscal year, with 2,100 units, or 70% of those units, being built in Bengaluru. Hyderabad, Mangaluru, Kochi, Coimbatore, Goa, Chennai, Mumbai, and Pune round up the list of additional cities.
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