Puravankara Projects Ltd. will take a call on incoming the hospitality sector in 6-8 months and which segment to target would depend on the city and the site’s location, according to a top company official. “The company possessed properties in city centres that were suitable for hospitality projects. However, the organisation has put them on hold since its focus now was on residential projects,” said the Joint managing director, PPL.
While granting that the endless rising of the home loan interest rates may have a near-term impact on the industry, he did not expect it to discourage buyers from investing in home purchases particularly in the South. Puravankara, Joint managing Director, was speaking at a press conference to announce the upcoming project in Coimbatore.
The company was asked, are they looking to expand in other regions in the county rather than being a South-focused player? Ashish said, PPL was ‘more an opportunity-driven’ company and it moved into southern cities because of the opportunities they provided. He added that the company would like to strengthen its presence in the South first. It has a joint venture project in Kolkata and also in Colombo.