Real estate developer Puravankara on Tuesday announced a ₹5,200 crore investment to develop a township in Greater Noida through its unit Prudential Housing and Infrastructure Development.
According to the company’s release, its subsidiary would purchase the 13.44-acre land parcel in Greater Noida to develop a township with a potential saleable area of about 4.57 million sq. ft, marking the real estate firm’s entry into the Delhi NCR real-estate market as well as its broader expansion in North India.
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“Our entry into Delhi-NCR marks an important new chapter in Puravankara’s growth journey,” said Ashish Puravankara, Managing Director at Puravankara..
“NCR is one of India’s largest and most dynamic real estate markets, and we have been deliberate in identifying the right opportunity to establish our presence here,” he added.
The project has a ₹5,200 crore development opportunity and is a meaningful step towards building a strong presence in NCR, Purvankara said..
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The township is intended as an integrated industrial and urban ecosystem and further claimed the project would benefit in connectivity from its proximity to the Yamuna Expressway as well as the development of Noida International Airport at Jewar, the company said..
This will be the company’s largest investment in FY27.
Purvankara’s business development during the present financial year across Delhi-NCR, Bengaluru and Mumbai comprises 10.74 million sq. ft. of saleable area and an estimated GDV of Rs 14,100 crore.
It would continue to pursue a mix of outright acquisitions, joint development agreements and other capital-efficient structures to strengthen its development pipeline across established markets alongside selective expansion into new geographies.
