Provident Housing to invest Rs 2,000 crore to develop five residential projects

Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Group, plans to invest over Rs
2000 crore to develop a 5.8 mn sq ft residential project over the next four years, with a focus on
sustainable living as it embarks on the next phase of growth.
The proposed projects are expected to generate a revenue of above Rs 3800 crore for the company.
The firm will launch its first project Provident Ecopolitan with an investment of over Rs 450 crore,
located in Aerospace Park in North Bengaluru. The proposed project has 956 apartments in 1, 2 and 3
BHK configurations ranging from 625 sq. ft. to 1,427 sq. ft. with more than 60% lung spaces.

Mallanna Sasalu, Chief Executive Officer of Provident Housing Limited, said, “We are excited with the
response ahead of the launch of our newest project Provident Ecopolitan, proving that a combination of a
great product and the brand name continues to attract homebuyers. We have so far received an astounding
response to the expressions of interest (EoIs) opened to the market since receipt of RERA on 11th August.
We strive to provide our potential residents with a lifestyle that meets luxury paired with a greener
building philosophy. This project also allows its residents to access the city’s biggest tech parks, making it
a viable location for all types of homebuyers. At Provident Housing, we are dedicated to providing worldclass amenities and thoughtfully designed plans for our customers, and this project will serve as a
forerunner in adopting sustainable living.”

Developed at the hub of manufacturing and aerospace research facilities, the project promises a
sustainable lifestyle for its residents. It also houses several other sustainability features like the usage of
water-efficient fixtures with aerators, rooftop rainwater harvesting and Membrane Bioreactor (MBR) STP
process, which leads to a considerable reduction in water demand.
With sustainability at its core, Provident Ecopolitan will provide a lush green residence to its owners with
over 45 indigenous species of trees with a unique concept of “One Tree per family”, an organic waste
converter, and solar photo voltaic cells for common area lighting.
Located near leading tech parks, this project will provide residents with the luxury of retail outlets, a
farmer’s flea market, an outdoor gym, a swimming pool, a nature trail, a bird-watching deck, a
reflexology path, an amphitheatre with stage, co-working spaces, TRX, a multipurpose court, skating rink,
and much more.
Established in 2008, Provident Housing has residential developments across nine cities, namely,
Bengaluru, Kochi, Mumbai, Goa, Hyderabad, Mangalore, Chennai, Coimbatore, and Pune. The company
has 20 million square feet of projects under it, with 13.82 million square feet completed and 9.15 million
square feet of ongoing projects. Additionally, 7.97 million square feet are planned for future launches.