Infosys Land Deal with Puravankara Real Estate Stirs Controversy in Bengaluru
Infosys, one of India’s leading IT giants, has found itself at the center of a heated controversy following allegations that it bought land from the Karnataka Industrial Areas Development Board (KIADB) and later sold it to a private real estate company. The move, involving a 53.5-acre land parcel in Anekal, has triggered a wave of criticism on social media platforms, with users accusing the company of unethical practices.
The land in question, which was granted to Infosys by KIADB several years ago, was reportedly sold to Puravankara Real Estate Pvt Ltd for a staggering Rs 250 crore. This news has sparked intense reactions on platforms like X (formerly Twitter), where netizens have questioned Infosys for its role in what many consider a questionable transaction. Critics argue that this move contributes to Bengaluru’s ongoing housing and infrastructure crisis.
Puravankara, a prominent real estate developer in Bengaluru, is known for its expansive projects in the city. The acquisition of the Anekal land, which spans 6.4 million square feet, fits into the company’s strategic plan to expand into niche real estate markets, capitalizing on areas with enhanced infrastructure and strong connectivity. The transaction reportedly adds significant value to Puravankara’s future developments, with a potential Gross Development Value (GDV) exceeding Rs 4,800 crore.
In a filing with the stock exchange, Ashish Puravankara, Managing Director of the company, explained that the acquisition was part of the firm’s ongoing effort to build large-scale, sustainable communities in high-potential markets. According to Puravankara, this acquisition is aligned with the company’s long-term strategy to develop infrastructure and build trust with consumers. The company aims to create vibrant, self-sustaining communities that offer a high quality of life.
Despite these explanations, Infosys has not responded to requests for comment on the deal. The company’s silence on the issue has only added fuel to the fire, as public skepticism continues to grow. Social media users, including industry leaders, have raised concerns about how such transactions may affect the city’s already strained real estate landscape. Many are questioning the ethics and long-term implications of large corporations like Infosys and Puravankara in shaping Bengaluru’s urban environment.
The land deal is part of Puravankara’s broader strategy to expand its market footprint across Bengaluru. The company has been active in acquiring land parcels for future developments, including a significant joint venture in East Bengaluru, which is expected to yield over 0.85 million square feet of development space. These strategic moves are seen as part of Puravankara’s ambition to become a leading real estate player in the region.
Bengaluru, a city known for its rapid urbanization and tech boom, has long struggled with affordable housing shortages and increasing real estate prices. The controversy surrounding the Infosys-Puravankara deal has brought to the forefront the complex issues of land use, urban planning, and corporate responsibility in a rapidly growing metropolis. As the debate continues, stakeholders are calling for greater transparency and accountability in land transactions to ensure that the city’s development benefits all its residents, not just a select few.
