All project information and details displayed on the site, including but not limited to the information and details contained in project related materials that you may download are for information purposes only and do not constitute an offer under any law for the time being in force. The Company shall not be liable to you for any decisions you may take as a result of or on the basis of such information and encourages you to contact the Company directly for up-to-date and accurate information.
The imagery used on the website and brochures are indicative of style only. Photographs of interiors, surrounding views and location may have been digitally enhanced or altered and do not represent actual views or surrounding views. These photographs are indicative only.
Changes may be made during the development of a real estate project and standard fittings and specifications are subject to change without notice. Standard fittings and finishes are subject to availability and vendor discretion. Fittings, finishes and fixtures shown in the images contained in this brochure are not standard and will not be provided as part of an apartment. The information contained herein is believed to be correct but is not guaranteed. Prospective purchasers should make and must rely on their own enquiries. The colours of the buildings are indicative only. This website and all brochures are a guide only and do not constitute an offer or contract.

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Joint Venture with Homex of Mexico

Puravankara Announces a Joint Venture with Homex of Mexico

Bangalore, 29 March 2010: Puravankara Projects Limited (Puravankara) and Desarrolladora Homex, S.A.B. de C.V., through its subsidiary Homex India Private Limited (Homex) announced today the signing of a Memorandum of Understanding through which the companies have established the rules for a non-exclusive Joint Venture Company to undertake projects in the affordable entry-level housing segment. The first project of the Joint Venture Company is expected to be in the metro area of Chennai, in South India.

Ravi Puravankara, the Chairman and Managing Director of Puravankara Projects Limited, expressing confidence about the new partnership said, “We look forward to this exciting opportunity that the JV represents. There is a huge requirement in India for affordable entry-level housing to be built across the Country, and with the expertise and proven business model of Homex and Puravankara’s track record and experience in Indian housing, we feel confident that through the combination of skills and market understanding -which is unparalleled in India-, we can become industry leaders in this segment”.

Commenting on the signing of the Memorandum of Understanding, Gerardo de Nicolas, Homex’s Chief Executive Officer, said, “We are enthusiastic about this relationship with Puravankara as it represents an important growth opportunity for Homex in India.  Our plan has been to cautiously assess opportunities to replicate our proven business model in other populous countries where the housing market is underserved.  At the same time, we are confident in the success of our relationship with Puravankara, as it has a track record of 35 years in the housing market in India and an inventory of suitable permitted land that will allow us to start our first pilot project with a reduced investment. We will be adding our expertise and business model to what we both feel is a strong business opportunity in India’s affordable, entry-level market.”

About Puravankara

The Puravankara Group, headquartered in Bangalore, is one of the leading real estate developers in India serving the needs of a discerning clientele in the housing, commercial and retail spaces. The Group with 35 years of experience has established a considerable presence in the metropolitan cities of Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Kolkata and overseas in Colombo and Dubai. The Group has an extensive and considerable land bank of 125.17 million square feet across India. Currently, the developing projects amounting to about 19.13 million sq.ft. represent 13,355 homes across South India and Kolkata. Puravankara Projects Limited is listed on the National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange (BSE). For further information on Puravankara, please visit www.puravankara.com.

 About Homex

Desarrolladora Homex, S.A.B de C.V. is the industry leading home developer specializing in building communities for the affordable entry-level and low middle-income housing markets, in addition to building tourism developments through their HXMTD division. The company was founded 20 years ago and has built over 160 communities in 34 cities in 21 different states in Mexico. The company is one of the most geographically diverse homebuilders in the country and a leader in the most important local markets. Based on income, number of homes sold, and net profits, Homex is the fastest growing developer in Mexico. The company is listed on the Mexican Stock Exchange (BMV) and on New York Stock Exchange (NYSE), and is the only company belonging to the OECD’s Latin American Corporate Governance Roundtable. For more information, please visit www.homex.com.mx

Ms. Kalyani Sarkar
Tel: +91 80 43439999
e-mail: kalyani@puravankara.com

Ms. Vania Fueyo (Mx)
Tel: +55 667 7585838
e-mail: vfueyo@homex.com.mx

Disclaimer:- The imagery used in the website is indicative of style only. The photographs of the interiors, surrounding views and location may have been digitally enhanced or altered and do not represent actual views or surrounding views. These photographs are indicative only.

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