Puravankara Ltd Guarantees ₹199.99 Cr for Subsidiary Provident Housing

Puravankara Ltd has provided a corporate guarantee of ₹199.99 crore on behalf of its wholly-owned subsidiary, Provident Housing Limited. This guarantee is towards financial assistance availed by Provident Housing Limited in the form of a term loan and credit facilities from RBL Bank Limited. The guarantee represents a contingent liability for Puravankara Ltd. The company states that the promoter/promoter group/group companies do not have any interest in this transaction, and it is being conducted at arm's length with only Provident Housing Limited being interested. The guarantee is part of the consolidated group's operations, and at present, there is no direct impact on Puravankara Ltd.