The board of Puravankara (formerly Puravankara Projects) on Tuesday approved an enabling resolution to exit from the investment of ₹403 crore at Raidurg, Panamaktha village.
This would involve sale of its interest in three wholly owned subsidiaries. The transaction has been authorised on condition that the total inflow will not be less than ₹475 crore, it said. Shares of the company may react positively to the development.