Puravankara acquires land in Bengaluru with Rs 9 billion GDV

03 Jul 2024 CW Team

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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..