Puravankara Among Top 4 Real Estate Developers in Adopting Best Practices: BrandXReport 2023-24

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Business Wire India

Puravankara Limited, one of India’s most trusted and admired real estate developers, has been ranked among the Top 4 real estate companies across India for adopting best practices in the business. Ranked among the Top 5 National Real Estate Brand, Puravankara’s commitment to best practices has been acknowledged with ten well-defined parameters, like Fiscal Management, Execution Standards, Market Depth Consumer Connect: Transparent Deals, Functional Professionalism; Care for Society & Environment Employer; Communication Openness; and Desirable Practices that far exceed the prevailing standard practices.

The company has maintained its 5th Rank with an improved brand score in terms of the overall Brand Ranking at the pan-India level. Puravankara also stands as 3rd Best Brand in South India with a better performance than the last fiscal year.

Puravankara also retained its first position nationally in the Image Management Ranking based on not just Media Coverage but also Media Tonality and Media Perception, Digital Presence, Online News, Social Media, Online Reputation Management, Communication Consistency, and Consumer Interface.

Commenting on the achievement, Abhishek Kapoor, Group CEO of Puravankara Limited, said, “We are thrilled to be acknowledged by the BrandXReport 2023-24 as one of the top four real estate developers nationwide for adopting best practices in real estate. At Puravankara, good governance is central to our operations. Our disclosure standards are among the highest in the industry, and we are committed to exceeding regulatory requirements. Our fifth position in brand leadership nationally and third position in South India with improved Brand Score is a testament to our unwavering focus on product quality, customer centricity, on-time delivery, and corporate governance. This recognition is a stepping stone towards our vision of becoming India’s most trusted and admired real estate developer.”

Puravankara’s overall Best Practices score with the latest report is 76, compared to 72.3 in 2019. On each metric of a 0-10 scale, the company scored 8 for Communication, 7.8 for Transparent Deals, 7.6 each for Fiscal Management, Market Depth, Functional Professionalism, and desirable practices; 7.5 for each Execution, Employer, and 7.4 each for Consumer Connect and Care. 
 
Puravankara ranked fifth nationally in public perception among Indian homebuyers and NRIs. For the first time, the company’s Corporate Social Responsibility (CSR) efforts reached the Brand Disruption segment with the sixth rank nationally.

The company is also listed among the top four employers in real estate. These achievements highlight the company’s continuous commitment to excellence and growing prominence in the Indian real estate industry.

Track2Realty BrandXReport 2023-24 is one of the industry’s more credible annual reports that rates and ranks the respective real estate companies in the given fiscal year on well-defined parameters. Track2Realty is a consortium of independent journalists. The rankings in the study have been derived through a rigorous hybrid survey with a substantial sample size of 10,000 participants. These questions delved into the consumer psychograph through their brand awareness, preferences, acceptance, rejection, and future choices within the property market. The input from the consumer survey was evaluated thoroughly by an esteemed jury board of independent and neutral experts.