The project has been developed as an integrated blue-green infrastructure initiative designed to capture, store and naturally filter rainwater, helping mitigate urban flooding while replenishing groundwater resources. According to the bank, the Sponge Park addresses challenges arising from rapid urbanisation, declining groundwater levels and seasonal waterlogging in the region. The project aims to transform an urban space into a sustainable public asset that combines water management, climate resilience, biodiversity enhancement and community well-being. Mullai Nagar was identified as a suitable location due to recurring flooding issues, groundwater stress and limited green public infrastructure. The nature-based solution is expected to improve environmental sustainability while creating a model for resilient urban development. KVB said the park will provide residents with an accessible and eco-friendly recreational space and help strengthen the area's resilience to climate-related challenges. The project is also expected to serve as a demonstration site for sustainable urban planning, water-sensitive design and ecological conservation. Speaking on the project, MD & CEO, 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. Karur Vysya Bank has engaged with leading FinTech companies for expanding our reach and providing innovative financial services. The bank's standalone net profit jumped 41.2% to Rs 724.96 crore on 16.3% rise in total income to Rs 3,519.45 crore in Q4 FY26 over Q4 FY25. The scrip shed 0.05% to end at Rs 296.55 on the BSE. Powered by Capital Market - Live News |