March 30, 2017 / 11:01 AM / 4 months ago

CORRECTED-BRIEF-Puravankara Ltd reduces overall debt by 4.50 bln rupees

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(Corrects fifth bullet to add dropped words "south India")

March 30 (Reuters) - Puravankara Ltd

* Says reduces overall debt by 4.50 billion rupees

* Says net-debt to equity ratio will now stand at 0.74 from the Dec 31, 2016 level of 0.94

* Says impact of debt reduction to lead to about INR 500 million being saved annually

* Says got INR 4.75 billion from exit of investment of land in Raidurg village

* In next few qtrs, co, unit Provident Housing will launch about 13 million sq feet across west and south India Further company coverage:

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