Puravankara expands with 7.26-acre acquisition in Hebbagodi, Bengaluru

Puravankara Restricted, a realty main headquartered in Bengaluru has introduced the acquisition of a 7.26-acre land parcel in Hebbagodi, Bengaluru. The mission is anticipated to have a saleable space of round 750,000 sq ft, with a possible Gross Improvement Worth (GDV) of greater than ₹900 crores, in accordance with a press launch.

Hebbagodi, situated close to Electronics Metropolis, has been highlighted as a strategically related location for residential developments.

Ashish Puravankara, Managing Director of Puravankara Restricted, famous the corporate’s enlargement plans to develop a high-end luxurious mission on the acquired land. He additional added, “This acquisition will enhance the provision of high-quality properties within the micro market with proximity to main industrial and IT hubs”.

• Additionally learn: Puravankara experiences revenue of ₹78 crore in Q3

Along with this, the corporate has secured 820,661 sq ft of landowner share in Provident Adora De Goa, Provident Botanico, and Provident Capella. Mixed with the Hebbagodi acquisition, Puravankara has added a possible complete GDV of ₹1,550 crores.

The corporate additionally just lately secured a 12.75-acre land parcel in Thane’s Ghodbunder Street and Lokhandwala in Mumbai, with a possible complete GDV of ₹5,500 crores over the mission lifecycle.

Within the earlier monetary 12 months, Puravankara offered round 7.35 million sq. toes. With plans to launch round 14 million sq. toes for FY25 from their present land financial institution, the corporate appears to replenish the land belongings.