Puravankara to sell WOS Purva Ruby Properties for Rs 145 Cr

Core Business DivestedStrategic Transactions View source PDF

PURVA · price

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Price reaction · full curve 14 horizons · vs prior close

+1.5%1-day move

₹212.05

prior close

₹215.46

base price

After-mkt

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AI summary

Puravankara board approved selling its entire 100% stake in wholly owned subsidiary Purva Ruby Properties to Prishal Office Parks III Pvt Ltd, a company owned by ICICI Prudential Office Yield Optimiser Fund (AIF II). Deal value is Rs 145 crores. Purva Ruby contributed only 1.06% of Puravankara's turnover and has negative net worth. Share Purchase Agreement to be signed within 45 days. Buyer is unrelated to promoters.

Likely market impact

Divests a small, loss-making subsidiary for Rs 145 cr. Marginally positive as it monetises a non-core asset and reduces drag on consolidated books.