Puravankara shares rise 1.5% as company secures land parcel in Greater Noida with Rs 5,200-cr GDV…

New business data points to the fact that Puravankara Ltd shares rose over 1.5% on September 22 as the real estate firm entered the Delhi-NCR real estate market with the allotment of a 13.44-acre land parcel in Greater Noida through its wholly-owned subsidiary, Prudential Housing and Infrastructure Development Limited.

The parcel has a saleable potential of 4.57 million sq. ft. and an estimated Gross Development Value (GDV) of approximately Rs 5,200 crore. "The entry into Delhi-NCR marks a significant step in Puravankara’s strategy to expand into high-expansion residential markets beyond Southern and Western India, leveraging its firm brand and five-decade legacy of trust, quality and execution," stated the firm in a stock exchange filing.

Ashish Puravankara, Managing Director, Puravankara Limited, stated: “Our entry into Delhi-NCR marks an important new chapter in Puravankara’s expansion journey. 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. Greater Noida offers the combination of scale, infrastructure momentum and long-term demand that we look for when entering a new geography. With a Rs 5,200 crore development opportunity, this is a meaningful first step towards building a firm presence in NCR while remaining disciplined in our approach to capital deployment and expansion.”

At 9:58 am on September 22, Puravankara shares advanced 1.5% to Rs 218.13 apiece.

The land parcel is located in Greater Noida. Scheduled as an integrated industrial and urban ecosystem, the township benefits from access to key regional infrastructure, including the Yamuna Expressway. The development of Noida International Airport at Jewar is additionally anticipated to further strengthen connectivity and backing economic and employment expansion across the region.

Rajat Rastogi, CEO-West & Commercial Assets, Puravankara Limited, stated, “Greater Noida presents a compelling opportunity for Puravankara to establish its presence in NCR at a meaningful scale. The region is seeing firm infrastructure-led expansion, expanding economic activity and improving connectivity, creating a favourable environment for long-term residential demand. We see this project as an opportunity to bring a

differentiated Puravankara offering to the market, backed by thoughtful design, quality and disciplined execution.”

He further further noted, “As we build our presence in North India, we will keep evaluate opportunities across Delhi-NCR that meet our development, return and capital-efficiency criteria. Our focus will be on creating a firm and sustainable pipeline while bringing the Puravankara experience to homebuyers in this market.”

The acquisition marks Puravankara’s maiden entry into Delhi-NCR and is its largest land transaction in FY27 so far. Including this acquisition, the firm’s FY27 business development across Delhi-NCR, Mumbai and Bengaluru spans approximately 10.74 million sq. ft. of saleable area and an estimated GDV of Rs 14,100 crore.

The Delhi-NCR entry comes close on the heels of Puravankara’s Rs 2,600 crore redevelopment win in Goregaon West, Mumbai.