NSEPress Release18 Jun 2026 · 18 Jun 2026, 02:04 pm
Press Release
Karur Vysya Bank Limited · KARURVYSYA
✦ AI Summary▲ PositiveESG
Karur Vysya Bank has partnered with Tambaram City Municipal Corporation to launch a Sponge Park in Mullai Nagar, a nature-based urban infrastructure project aimed at enhancing groundwater recharge, mitigating flooding, and creating sustainable community spaces.
Analysis Scores
Earnings Impact0/10
Growth Catalyst2/10
Governance Concern0/10
Regulatory Risk0/10
Balance Sheet Risk0/10
Liquidity Impact0/10
Market Sentiment6/10
✦ Ask a Question
Ask anything about this announcement — AI will answer based on the filing content.
Full Announcement
Karur Vysya Bank Limited has informed the Exchange regarding a press release dated Jun 18, 2026, titled "Karur Vysya Bank partners with Tambaram City Municipal Corporation to make Mullai Nagar greener; launches Sponge Park".
Attachments (1)
📄pdf
Download →
KARURVYSYA_18062026140400_Intimation_Signed.pdf
View document text
Classification | REGULATORS
IRC: F48 :79 :184 :2026 June 18, 2026
The Manager, The Manager,
National Stock Exchange of India Ltd, BSE Limited,
Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers,
Plot No. C-1, ‘G’ Block, Dalal Street,
Bandra- Kurla Complex, Mumbai – 400001.
Bandra (East), Mumbai – 400051.
Scrip Code: KARURVYSYA Scrip Code: 590003
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 – Press Release
*******
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, please find attached Press Release made
by the Bank titled – “Karur Vysya Bank partners with Tambaram City
Municipal Corporation to make Mullai Nagar greener; launches Sponge
Park”.
Kindly take the same on record.
Yours faithfully,
Srinivasarao Maddirala
Company Secretary &
Compliance Officer
Encl: As above
Karur Vysya Bank partners with Tambaram City Municipal
Corporation to make Mullai Nagar greener; launches
Sponge Park
Nature-based urban infrastructure project aims to enhance groundwater
recharge, mitigate flooding, and create sustainable community spaces
Chennai, June 18, 2026: Karur Vysya Bank (KVB), under its flagship
environmental sustainability initiative KVB Bhoomi, today launched the
Sponge Park at Mullai Nagar, Tambaram, in partnership with the Tambaram
City Municipal Corporation. The Park has been designed as an integrated
blue-green infrastructure project that captures, stores, and naturally filters
rainwater, helping reduce urban flooding while replenishing groundwater
resources. Developed in response to the growing challenges of rapid
urbanisation, declining groundwater levels, and seasonal waterlogging in the
region, the initiative seeks to transform an urban space into a sustainable and
multifunctional public asset.
Mullai Nagar was identified as a location where environmental and community
needs intersect. The area faces recurring urban flooding, groundwater stress,
and limited green public infrastructure. The Sponge Park has been designed
as a nature-based solution that simultaneously addresses water management,
climate resilience, biodiversity enhancement, and community well-being,
creating a model for sustainable urban development
The inauguration ceremony was graced by Shri D. Sarathkumar,
Honourable Minister for Human Resource Management, Government of
Tamil Nadu, in the presence of Shri S. Balachander, IAS, Commissioner,
Tambaram City Municipal Corporation and Shri B. Sankar, Executive
Director, Karur Vysya Bank, along with senior officials from the Bank and the
Municipal Corporation.
Speaking on the project, MD & CEO Mr. Ramesh Babu, Karur Vysya Bank,
said, "At Karur Vysya Bank, we believe that sustainability is a very important
part of our commitment to responsible growth and community development.
We are focused on creating long-term environmental impact by supporting
initiatives that address pressing ecological challenges. The Sponge Park at
Mullai Nagar under KVB Bhoomi is a pioneering example of how nature-based
infrastructure can improve water security, mitigate urban flooding, enhance
biodiversity, and create healthier public spaces. We are pleased to partner
with the Tambaram City Municipal Corporation in building a greener and more
resilient future for the community."
The project is expected to benefit residents across all age groups by providing
a safe, accessible, and eco-friendly recreational space while strengthening the
area's resilience to climate-related challenges. In addition, the park will serve
as a living demonstration of sustainable urban planning and environmental
management, creating greater awareness of water-sensitive design and
ecological conservation among visitors and students.
The initiative aligns with KVB's CSR focus on environmental sustainability and
contributes towards multiple United Nations Sustainable Development Goals
(SDGs), including Clean Water and Sanitation (SDG 6), Sustainable Cities
and Communities (SDG 11), Climate Action (SDG 13), Good Health and Well-
being (SDG 3), and Life on Land (SDG 15).