Puravankara acquires 2.3 acres in Bengaluru for Rs 1.35 billion

26 Sep 2024 CW Team

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)

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..