CHENNAI: Bengaluru-based Puravankara Ltd on Tuesday announced its entry into the Delhi-NCR real estate market. The company has acquired a 13.44-acre land parcel in Greater Noida for Rs 340 crore through its subsidiary, Prudential Housing and Infrastructure Development Limited.
The parcel has a saleable potential of 4.57 million sq. ft. and an estimated Gross Development Value (GDV) of about Rs 5,200 crore.
Managing Director, Puravankara Limited, Ashish Puravankara, said the entry into Delhi-NCR marks an important new chapter in the company's growth. He said Greater Noida offers the scale, infrastructure momentum and long-term demand the company looks for when entering a new market.
“With a Rs 5,200 crore development opportunity, this is a meaningful first step towards building a strong presence in NCR while remaining disciplined in our approach to capital deployment and growth,” he said.
CEO-West & Commercial Assets, Puravankara Limited, Rajat Rastogi, said Greater Noida offers an opportunity to establish the company's presence in NCR at a meaningful scale.
He said the region is seeing infrastructure-led growth, expanding economic activity and improving connectivity, creating a favourable environment for long-term residential demand. He added that the company plans to bring a differentiated Puravankara offering to the market, backed by design, quality and disciplined execution.
Including this acquisition, Puravankara's FY27 business development across Delhi-NCR, Mumbai and Bengaluru covers about 10.74 million sq. ft. of saleable area, with an estimated GDV of Rs 14,100 crore.
The Delhi-NCR entry comes shortly after Puravankara's Rs 2,600 crore redevelopment win in Goregaon West, Mumbai. The company said the move adds to its development pipeline across key markets.
