The announcement was made after market hours on Friday, 20 March 2015.

Meanwhile, the S&P BSE Sensex was down 31.92 points or 0.11% at 28,229.16.

On BSE, so far 8,532 shares were traded in the counter as against average daily volume of 28,095 shares in the past one quarter.

The stock hit a high of Rs 66.90 and a low of Rs 65 so far during the day. The stock had hit a 52-week high of Rs 133.90 on 11 July 2014. The stock had hit a 52-week low of Rs 63 on 26 March 2014.

The stock had underperformed the market over the past one month till 20 March 2015, falling 19.37% compared with the Sensex's 3.32% fall. The scrip had also underperformed the market in past one quarter, dropping 19.52% as against Sensex's 3.25% rise.

The mid-cap realty firm has equity capital of Rs 118.57 crore. Face value per share is Rs 5.

Puravankara said that buoyed by the successful sale of its commercial projects in Chennai and Bangalore, Puravankara is now launching Purva Summit, its Grade A office space in Hi-Tech city (Kondapur), in Hyderabad. Purva Summit offers real estate buyers with an opportunity to invest Grade-A office spaces at ticket sizes from Rs 25 lakh onwards. Puravankara has been overwhelmed by the Expression of Interest it has received from potential buyers for Purva summit, which has been oversubscribed by twice the amount of area that it intends to sell, Puravankara Projects said. This has reiterated the belief that markets always respond well to quality products that are designed & priced well and offered by Grade A developers such as Puravankara, the company said in a statement.

Puravankara Projects said that it has successfully monetised its commercial properties in Chennai and Bangalore this year. The company has made it possible for customers across section of income profiles to buy into Grade A office space and enjoy both capital appreciation as well as earn attractive monthly rental returns from large corporate tenants.

Puravankara Projects' consolidated net profit rose 62.7% to Rs 32.63 crore on 41.1% rise in total income to Rs 378.55 crore in Q3 December 2014 over Q3 December 2013.