 "Morgan Stanley has set up a platform with Bengaluru-based Puravankara Projects for industrial parks")
Bengaluru-based Puravankara has put on hold its warehousing joint venture (JV) with global investor Morgan Stanley and will focus on residential and commercial properties in the country.
The duo had signed a JV in 2019 to develop greenfield warehousing properties in Southern and Western India. The first of the projects was supposed to come up last year.
The JV was looking to buy land parcels on the outskirts of Mumbai, sources said. “We are in pause mode on that (JV with Morgan Stanley). Our focus is on residential and commercial properties now,” said Chief Executive Abhishek Kapoor.
The duo had signed a JV in 2019 to develop greenfield warehousing properties in Southern and Western India. The first of the projects was supposed to come up last year.
The JV was looking to buy land parcels on the outskirts of Mumbai, sources said. “We are in pause mode on that (JV with Morgan Stanley). Our focus is on residential and commercial properties now,” said Chief Executive Abhishek Kapoor.
