+
Puravankara acquires land in Bengaluru with Rs 9 billion GDV
Real Estate

Puravankara acquires land in Bengaluru with Rs 9 billion GDV

Puravankara has acquired a 7.26-acre plot of land in Hebbagodi, Bengaluru, where the project's saleable area will encompass approximately 7.5 lakh sq ft. This development carries a potential gross development value (GDV) exceeding Rs 9 billion. Additionally, the company recently announced the acquisition of a 12.75-acre land parcel in Thane?s Ghodbunder Road and Lokhandwala in Mumbai, with an overall potential GDV projected to reach Rs 55 billion over the project's lifecycle. In a separate regulatory filing, Puravankara informed that its wholly-owned subsidiary, Provident Housing, has purchased owner?s shares of land in Provident Botanico and owner's shares of a unit in Provident Capella for Rs 1.65 billion and Rs 0.86 billion, respectively. Ashish Puravankara, managing director of the company, noted, "With the acquisition of landowner shares in Provident Adora De Goa, Provident Botanico, and Provident Capella, alongside the Hebbagodi acquisition, the group has added a potential total GDV of Rs 15.5 billion, in addition to recent Mumbai acquisitions." Provident Botanico is projected to have a GDV of Rs 3.5 billion, while Provident Capella's GDV is estimated at Rs 1.34 billion. Puravankara highlighted that in the previous financial year, they sold approximately 7.35 million sq ft, and they plan to launch around 14 million sq ft in FY25 from their existing land bank. The company remains focused on business development to augment their land holdings, aligning with the group's future growth strategies.

Puravankara has acquired a 7.26-acre plot of land in Hebbagodi, Bengaluru, where the project's saleable area will encompass approximately 7.5 lakh sq ft. This development carries a potential gross development value (GDV) exceeding Rs 9 billion. Additionally, the company recently announced the acquisition of a 12.75-acre land parcel in Thane?s Ghodbunder Road and Lokhandwala in Mumbai, with an overall potential GDV projected to reach Rs 55 billion over the project's lifecycle. In a separate regulatory filing, Puravankara informed that its wholly-owned subsidiary, Provident Housing, has purchased owner?s shares of land in Provident Botanico and owner's shares of a unit in Provident Capella for Rs 1.65 billion and Rs 0.86 billion, respectively. Ashish Puravankara, managing director of the company, noted, With the acquisition of landowner shares in Provident Adora De Goa, Provident Botanico, and Provident Capella, alongside the Hebbagodi acquisition, the group has added a potential total GDV of Rs 15.5 billion, in addition to recent Mumbai acquisitions. Provident Botanico is projected to have a GDV of Rs 3.5 billion, while Provident Capella's GDV is estimated at Rs 1.34 billion. Puravankara highlighted that in the previous financial year, they sold approximately 7.35 million sq ft, and they plan to launch around 14 million sq ft in FY25 from their existing land bank. The company remains focused on business development to augment their land holdings, aligning with the group's future growth strategies.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?