NEW DELHI: Real estate developer Puravankara Limited has announced long-term plans to add a potential 10 million square feet to its commercial and retail operations by 2023. While executing this, the strategy is to further grow this commercial portfolio exponentially.
Puravankara has already acquired strategic land parcels in Bengaluru, Mumbai, Pune and Hyderabad towards this end. Currently, it has three commercial projects in Bengaluru – Purva Premier, Purva Mall and Purva Gainz — and one each in Chennai and Hyderabad, Purva Primus and Purva Summit respectively totalling 1.3 million square feet. Additionally, four projects in Bengaluru, four in Pune and a few more are in the final stages of acquisition totalling approximately 10 million square feet.
“Diversification of our existing product mix is a conscious decision and natural progression towards our bigger goal. We believe it’s the right time to expand our business horizon through increasing our commercial space presence in the Indian realty landscape. A robust strategy has been devised to oversee the expansion our commercial portfolio,” said Ashish R Puravankara, the firm’s MD.