Puravankara Sells Entire Stake in Purva Ruby Properties for ₹145 Cr

Puravankara Ltd has approved the sale and transfer of its entire 100% equity shareholding in its wholly-owned subsidiary, Purva Ruby Properties Private Limited, to Prishal Office Parks III Private Limited. The transaction is valued at ₹145 crore. Purva Ruby Properties Private Limited will cease to be a subsidiary upon completion. The Share Purchase Agreement (SPA) is expected to be executed within 45 days. Purva Ruby Properties contributed 1.06% to Puravankara's turnover in the last financial year, with a negative net worth. The buyer is an ICICI Prudential fund, not related to Puravankara's promoter group.