In an era where sustainability is becoming a cornerstone of corporate responsibility, Puravankara stands out with its comprehensive approach to environmental stewardship, community development, and economic growth. By focusing on reducing its carbon footprint, enhancing resource efficiency, and promoting green building practices, it is not only contributing to a healthier ecosystem but also setting a benchmark in the real estate industry. Their CSR initiatives, which include afforestation programs and water conservation efforts, exemplify their dedication to fostering biodiversity and addressing critical environmental issues.
In this exclusive interview with TheCSRUniverse, Mr. Abhinav Kanchan, President and Group Head of Corporate Communications and CSR, sheds light on the company’s commitment to integrating sustainability into its core business strategies.
Scroll down to read the full interview.
Q&A
Q. Can you provide an overview of Puravankara’s approach to sustainability and how it aligns with the company’s broader goals?
A. Puravankara’s approach to sustainability is deeply rooted in its commitment to environmental stewardship, community development, and economic growth. The company integrates sustainability into its core business strategies, focusing on reducing its carbon footprint, enhancing resource efficiency, and promoting green building practices.
Our Corporate Social Responsibility (CSR) initiatives include afforestation programs, undertaken to foster biodiversity and contribute to a healthier ecosystem. We also focus on water conservation efforts, including well restoration and lake rejuvenation projects and installing Rainwater Harvesting (RWH) systems in schools. We firmly believe in creating a sustainable world for people to live their dreams and will continue to make efforts in this direction in a committed manner.
Q. Can you tell us more about the “1 tree per home” pledge and its impact on the environment and the communities you develop?
A. The "1 Tree per Home" pledge by Provident Housing, a subsidiary of Puravankara, aims to provide at least one tree for every household in its projects. This initiative enhances green cover, promotes biodiversity, and contributes to a healthier environment. By integrating green spaces into their residential projects, Provident Housing fosters a connection between residents and nature, creating sustainable and eco-friendly communities.
Q. Can you share any success stories or notable examples of how your sustainability initiatives have positively impacted the communities?
A. Puravankara has numerous success stories, such as rejuvenating heritage wells in Bengaluru in partnership with the Biome Environmental Trust. This initiative, part of the "Million Wells for Bengaluru" campaign, has restored several heritage wells and significantly helped recharge the shallow aquifers and replenish groundwater reservoirs.Such projects address critical environmental issues and empower local communities by reviving traditional well-digging practices.
Since 2021, more than a dozen heritage/recharge wells have been restored in Bengaluru and surrounding areas. These include one existing well rejuvenated at Rest House Park on Crescent Road, two in Lalbagh, and three new wells dug at ACF, Madiwala, Bengaluru. In 2022-2023, six open heritage wells and a Kalyani were rejuvenated in Hunsamaranahalli TMC limits in Yelahanka Taluk, positively impacting thousands of nearby residents. A well opposite the aviation academy pumps 2 lakh litres daily and supplies water to Shaktinagar, Muneshwar Camp, and Sonnappanahalli municipal wards. Near Bettahalasur Cross, a well serves approximately 100 households. In addition, the campaign also utilizes the services of the Manu Vaddar community, a group of well-diggers with centuries of experience who have worked on Bengaluru’s lakes and wells for decades.
Furthermore, three rainwater harvesting (RWH) systems have been installed in various buildings at the Army Supply Corps (ASC) Training Centre and College, Bengaluru, benefiting around 100 army personnel and 400 horses by meeting their daily water requirements. These systems collectively gather and retain 741 kilolitres of water each year, utilized for various purposes.
Earlier, we implemented rainwater harvesting at Sonappanahalli School in Bengaluru and Vidyaprabodhini School in Goa, capable of harvesting up to 33 lakh liters of water annually.
Q. How are you incorporating smart city solutions and technology to optimize resource usage and create connected, sustainable communities?
A. Puravankara is incorporating smart city solutions using advanced technologies to optimize resource usage and enhance connectivity in its developments. This includes the integration of IoT for efficient energy management, smart water meters to reduce wastage, and enhanced security systems to ensure safer living environments. These efforts create sustainable, connected communities that align with modern urban living standards.
We recognize our role in sustainable development and endeavor to work closely with all our stakeholders to enhance and integrate sustainability initiatives across our operations.
Q. How do you balance your residential and commercial segments while strongly focusing on sustainability?
A. Puravankara balances its residential and commercial projects by embedding sustainability across all segments. The company ensures that both types of developments adhere to green building standards and incorporate eco-friendly materials and practices. This holistic approach ensures that sustainability is a consistent focus, regardless of the project type, thereby contributing to sustainable urban development.
Q. How does Puravankara’s commitment to sustainability contribute to the company’s overall business strategy and growth?
A. Puravankara’s commitment to sustainability is integral to its business strategy and growth. By prioritizing eco-friendly practices and sustainable developments, the company enhances its brand value and meets the growing demand for green buildings. This attracts environmentally conscious buyers and positions Puravankara as a leader in sustainable real estate, fostering long-term growth and profitability.
Puravankara considers sustainability an essential component of its business strategy and expansion. The real estate sector's carbon footprint grows as climate change intensifies and the company's outlook and consumer demands evolve. Embracing sustainable business practices becomes increasingly vital. Through initiatives such as planting 15,000 trees and revitalizing wells, Puravankara demonstrates its commitment to responsible conduct. These initiatives have generated 35.40 lakh kilograms of oxygen and provided approximately 6,200 kilolitres of water for various purposesannually. By prioritizing eco-friendly approaches and sustainable developments, the company elevates its brand reputation and meets the rising preference for environmentally conscious structures. This strategy appeals to eco-minded buyers and positions Puravankara as a frontrunner in sustainable real estate, fostering enduring growth and profitability.
Q. What long-term goals do you have for achieving net-zero operations, and what strategies are in place for advancing towards those goals?
A. Puravankara has set ambitious long-term goals to achieve net-zero operations. Strategies include increasing the use of renewable energy, enhancing energy efficiency across projects, and investing in carbon offset initiatives. Puravankara aims to significantly reduce its carbon footprint and achieve net-zero emissions in the coming years by continuously innovating and adopting best practices.
Q. What are the key challenges the Indian real estate players face when implementing sustainable practices, and how can those be addressed?
A. The Indian real estate sector faces several challenges in implementing sustainable practices, including high initial costs, lack of awareness, and regulatory hurdles. We advocate for stronger policy support, increased stakeholder collaboration, and adopting cost-effective green technologies to address these issues. Leading by example and fostering industry-wide cooperation, the company aims to overcome these barriers and promote the widespread adoption of sustainable practices.
Q. How do you collaborate with other stakeholders, including government agencies and non-profits, to advance sustainability in the real estate industry?
A. Partnerships like the one with Biome Environmental Trust for the "Million Wells for Bengaluru" campaigndemonstrate the company's commitment to collective action. Such collaborations are crucial for scaling impact and driving systemic change in the real estate industry. In addition to Biome Environmental Trust, Puravankara has partnered with Bruhat Bangalore Mahanagara Palike (BBMP) for the upkeepof seven medians, one park, and one traffic circle in the CBD area. We have also partnered with VidyaniketanTrust and have planted 15,000 trees in Government schools on the outskirts of Bengaluru. We are constantly looking for wastelands in newer areas thatneed green cover. More than 40,000 trees are alreadyin the process of being planted at Boothanahalli, Bannerghatta’s forest range. We work closely with government agencies- Forest Department, BBMP, NGOs, and Town Municipal Council (TMC) to have a more meaningful impact on the larger stakeholders. We firmly believe that working together creates a better, win-win solution with a higher impact.
Q.How do you see the future of sustainable real estate evolving in India, and what role will Puravankara play in this transformation?
A. The future of sustainable real estate in India looks promising, with increasing awareness and demand for green buildings. Puravankara is poised to play a significant role in this transformation by continuing to innovate and set benchmarks in sustainable development. The company’s focus on integrating advanced technologies, fostering community engagement, and adhering to stringent environmental standards will be instrumental in shaping a sustainable urban landscape in India.
