Puravankara to invest Rs. 1,000 cr on construction in FY15.

Realty firm Puravankara Projects will invest about Rs. 1,000 crore this fiscal on construction of its housing projects and targets to cut external net debt by about Rs. 250 crore by March next year on improved sales.

The Bangalore-based company is also targeting to launch 18 million sq ft of new projects this fiscal, of which 10 million sq ft will be under its affordable housing brand 'Provident'.

'We are focusing on the execution of our housing projects. We will invest about Rs. 1,000 crore in the current fiscal on construction as against Rs. 748 crore last year,' Puravankara CEO Jackbastian K Nazareth told PTI.

The company has already invested Rs. 235 crore in the first quarter of this fiscal, he added.

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