Puravankara Expands Bengaluru Presence with 7.26-Acre Land Acquisition
Real estate major Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, with a potential gross development value of over Rs 900 crore.
Real EstatePuravankaraBengaluruLand AcquisitionProperty DevelopmentReal Estate MumbaiJul 02, 2024
In a separate regulatory filing, Puravankara's wholly-owned subsidiary, Provident Housing, has purchased owner's shares of land in Provident Botanico and owner's share of unit in Provident Capella for Rs 165 crore and Rs 86 crore, respectively.
Ashish Puravankara, Managing Director of Puravankara, said, 'With the acquisition of landowner share of 820,661 sq ft in Provident Adora De Goa, Provident Botanico, and Provident Capella, along with the 7.26 acres of land in Hebbagodi, the group has added a potential total GDV of Rs. 1,550 crore in addition to the recent acquisitions in Mumbai.'
The potential gross development value of Provident Botanico is Rs 350 crore, while Provident Capella's GDV is Rs 134 crore. 'In the previous financial year, we sold around 7.35 million sq ft. With planned launches of around 14 million sq ft for FY25 from our existing land bank, our focus shall continue to be on business development to replenish our land bank, keeping in mind the future growth plans of the group,' he added.
Information
Puravankara is a leading real estate developer with a presence in Bengaluru, Mumbai, and other cities across India. The company has a strong track record of delivering high-quality residential and commercial projects.
Puravankara is a reputed real estate developer with a legacy of over three decades. The company has a strong presence in Bengaluru and Mumbai, and is known for its high-quality residential and commercial projects.
Frequently Asked Questions
Where is Puravankara's latest land acquisition located?
Hebbagodi, Bengaluru
What is the saleable area of the project?
Around 7.5 lakh sq ft
What is the potential gross development value of the project?
Over Rs 900 crore
What is the total GDV of the acquisitions in Mumbai?
Rs. 5,500 crore
What is the focus of Puravankara's business development strategy?
Replenishing the land bank to drive future growth
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