Real estate developer Puravankara Ltd. has announced its foray into the Delhi-NCR market with the acquisition of a significant land parcel in Greater Noida. The Bengaluru-headquartered firm plans to develop a large-scale premium high-rise residential township with an estimated Gross Development Value (GDV) of approximately ₹5,200 crore.
Strategic Land Acquisition in Greater Noida
Puravankara’s wholly-owned subsidiary, Prudential Housing and Infrastructure Development Limited, secured a 13.44-acre plot through an e-auction conducted by DMIC Integrated Industrial Township Greater Noida Limited. The land acquisition cost was ₹340 crore. This marks Puravankara’s largest land transaction for the current fiscal year (FY27) to date.
The newly acquired land is strategically situated along the Delhi–Mumbai Industrial Corridor (DMIC) stretch within Greater Noida. It boasts excellent connectivity via the Yamuna Expressway and is in close proximity to the upcoming Noida International Airport, factors that are expected to enhance its appeal to prospective homebuyers.
Project Scope and Market Strategy
The planned residential development is projected to offer a saleable potential of approximately 4.57 million sq ft. Puravankara intends to position this project as a premium offering, leveraging the area's robust infrastructure momentum and long-term demand.
“Greater Noida offers the combination of scale, infrastructure momentum and long-term demand that we look for when entering a new geography,” stated Ashish Puravankara, Managing Director of Puravankara. He further added, “The National Capital Region is among India’s largest and most dynamic real estate markets, and the company had been deliberate in identifying the right opportunity to establish our presence here.”
This venture is part of Puravankara’s broader strategy to expand into high-growth residential markets beyond its established strongholds in southern and western India. With this deal, the developer’s FY27 business development pipeline across Delhi-NCR, Mumbai, and Bengaluru now encompasses about 10.74 million sq ft of saleable area, with an estimated GDV of ₹14,100 crore.
Investor Confidence
Following the announcement on September 22, Puravankara’s shares experienced a positive reaction, rising between 1.5% to 4% during the day. The stock touched an intraday high of ₹223.70 on the BSE, reflecting investor confidence in the company’s entry into the National Capital Region and the substantial value of its development pipeline.