Puravankara acquires 2.3 acres in Bengaluru for Rs 1.35 billion
Real Estate

Puravankara acquires 2.3 acres in Bengaluru for Rs 1.35 billion

Real estate developer Puravankara has purchased 2.3 acres of land from Citrus Venture Projects in Hebbal, Bengaluru for approximately Rs 1.35 billion, according to sources familiar with the deal. This acquisition is part of Puravankara’s strategy to expand its office platform and increase rental income to Rs 5 billion over the next five years.

The newly acquired land has a development potential of 2 million square feet in its first phase. Puravankara is also in the process of securing an additional 10 acres from Citrus Venture Projects as part of a broader plan to scale up its commercial real estate portfolio in the region.

"The first phase of the acquisition has been registered, and Puravankara is exploring further opportunities to acquire the remaining land parcel," said a source who requested anonymity. As per documents shared by Propstack, a data analytics firm, PPL Hebbal Developers Pvt. Ltd, a Puravankara subsidiary, has obtained a 67.75% share in the 4.9-acre property in Bengaluru Urban District, equivalent to 2 acres 34.5 guntas or 125,000 sq ft.

Puravankara, known for its residential projects, is expanding into the commercial real estate market, with plans to develop 3 million sq ft of office space over the next four to five years. This strategic move is aimed at capitalising on the growing demand for high-quality office spaces in key urban markets.

"As part of this strategy, Puravankara’s commercial expansion will leverage its industry experience and strong market understanding to position itself as a significant player in the office leasing sector. The firm expects rental income of Rs 1.4 billion by 2025-26, with projections reaching Rs 5 billion over the next few years," the source added.

(ET)

Real estate developer Puravankara has purchased 2.3 acres of land from Citrus Venture Projects in Hebbal, Bengaluru for approximately Rs 1.35 billion, according to sources familiar with the deal. This acquisition is part of Puravankara’s strategy to expand its office platform and increase rental income to Rs 5 billion over the next five years. The newly acquired land has a development potential of 2 million square feet in its first phase. Puravankara is also in the process of securing an additional 10 acres from Citrus Venture Projects as part of a broader plan to scale up its commercial real estate portfolio in the region. The first phase of the acquisition has been registered, and Puravankara is exploring further opportunities to acquire the remaining land parcel, said a source who requested anonymity. As per documents shared by Propstack, a data analytics firm, PPL Hebbal Developers Pvt. Ltd, a Puravankara subsidiary, has obtained a 67.75% share in the 4.9-acre property in Bengaluru Urban District, equivalent to 2 acres 34.5 guntas or 125,000 sq ft. Puravankara, known for its residential projects, is expanding into the commercial real estate market, with plans to develop 3 million sq ft of office space over the next four to five years. This strategic move is aimed at capitalising on the growing demand for high-quality office spaces in key urban markets. As part of this strategy, Puravankara’s commercial expansion will leverage its industry experience and strong market understanding to position itself as a significant player in the office leasing sector. The firm expects rental income of Rs 1.4 billion by 2025-26, with projections reaching Rs 5 billion over the next few years, the source added. (ET)

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?