Entry into Delhi-NCR with the year’s biggest deal; land deal with a Gross Development Value of ₹5,200 crore
Shares of Puravankara, a company included in the Nifty Microcap 250 Index, saw gains at the market opening on Tuesday. Despite a sluggish market, the stock is trading with an increase of over 2%. The company announced today that it has entered the Delhi-NCR real estate market and has acquired a 13.44-acre land parcel in Greater Noida.
According to the company, this land has the potential to develop approximately 4.57 million square feet of saleable area, with a project Gross Development Value (GDV) of around ₹5,200 crore.
The company stated that the Greater Noida land was acquired through its wholly-owned subsidiary, Prudential Housing and Infrastructure Development. This marks Puravankara’s first project in Delhi-NCR and represents the company’s largest land deal so far for the 2027 fiscal year.
A major start to expansion in Delhi-NCR
The company stated that its entry into Delhi-NCR is part of a strategy to expand into major residential markets beyond South and West India. The Greater Noida land deal was executed under this strategy. The company identified long-term residential demand, infrastructure development, and improved connectivity in the region as key opportunities.
The land is connected to major infrastructure, such as the Yamuna Expressway. Additionally, the Noida International Airport currently under construction in Jewar is cited as a crucial factor that will boost connectivity and economic activity in the region.
Growth pipeline expanded for FY2027
With the inclusion of this deal, the company’s total business development across Delhi-NCR, Mumbai, and Bengaluru for the 2027 fiscal year has reached approximately 10.74 million square feet of saleable area. The estimated Gross Development Value of these projects stands at around ₹14,100 crore. Puravankara recently announced securing a ₹2,600 crore redevelopment project in Goregaon West, Mumbai. According to the company, its entry into Greater Noida and this Mumbai project are expanding its development pipeline.
The company stated that it will continue to explore similar opportunities in the Delhi-NCR region that offer growth potential while ensuring efficient capital utilization.
Stock Shows Gains
The stock has been trading in the green since the market opened. Upon opening, it rose by over 2% to reach the ₹224 level; the previous close was ₹215. The stock has gained nearly 7% over the past week, although it has slipped by approximately 9% so far this year.
