Bengaluru-based Puravankara Limited, a leading player in the real estate sector, is embarking on an ambitious mission to bolster its land portfolio, with plans to acquire 45 million square feet over the next two years. Abhishek Kapoor, the Group Chief Executive, outlined these growth objectives during a recent discussion with Hindustan Times, highlighting the company's commitment to expanding its footprint in the competitive real estate market.

Comprehensive Expansion Plans

Puravankara is gearing up to replenish its land bank as part of its strategy to introduce new projects. In the current fiscal year, the company aims to launch approximately 12 million square feet of new developments, along with an additional 4 million square feet from new phases of existing projects. The investor presentation detailed plans for several key launches in major cities, including four in Bengaluru, two each in Mumbai and Kochi, and one each in Chennai, Coimbatore, and Pune, slated for the latter half of FY25.

As of the first quarter of this financial year, Puravankara's land bank stands at 28.33 million square feet, strategically spread across significant metropolitan areas like Bengaluru, Mumbai, and Kochi. Kapoor revealed that in FY25 alone, the firm has successfully added 5.75 million square feet to its portfolio, projecting a Gross Development Value (GDV) of over ₹10,000 crore from recent acquisitions in Mumbai, Bengaluru, and Goa.

Focus on Major Markets

Puravankara's strategic vision is centered on enhancing its presence in prominent metropolitan regions, including Mumbai, Bengaluru, Hyderabad, Chennai, Pune, and Delhi-NCR. In Mumbai, the company is particularly focused on redevelopment projects, a sector with significant potential for growth and profitability.

Outstanding Sales Performance

On October 10, Puravankara announced remarkable sales figures for the first half of FY25, reporting a total sales value of ₹2,459 crore. Customer collections reached ₹1,998 crore, reflecting a robust 27% increase from ₹1,575 crore in the same period of FY24. Ashish Puravankara, the Managing Director, expressed optimism about maintaining this growth trajectory, especially with the festive season approaching. The company anticipates launching over 12 million square feet in the second half of the financial year, which is expected to generate a GDV exceeding ₹13,000 crore.

Recent Strategic Acquisitions

In a series of recent developments, Puravankara has secured pivotal redevelopment rights for the Miami Apartments in Breach Candy, South Mumbai, which carries a potential GDV of ₹700 crore. This acquisition marks a significant entry into the luxury market segment for the company. Furthermore, Puravankara expanded its presence in Lokhandwala, Andheri West, by acquiring rights for four societies, collectively valued at ₹2,350 crore in potential GDV.

In Bengaluru, the company has entered into a Joint Development Agreement (JDA) for a 1.95-acre land parcel in Electronics City. This prime location is expected to yield a saleable area of 2.6 lakh square feet, with an estimated GDV of ₹250 crore.

Positioning for Future Growth

Through these strategic initiatives, including robust financial performance and a clear focus on high-demand markets, Puravankara Limited is well-positioned for significant growth in India’s dynamic real estate landscape. The company’s commitment to expanding its land bank and launching new projects aligns with the increasing demand for residential and commercial properties, paving the way for lucrative investment opportunities.

If you’re interested in exploring real estate investments or learning more about Puravankara’s upcoming projects, now is the perfect time to connect with us. As we embark on this exciting journey of expansion, we invite you to be a part of our growth story. Stay tuned for our new launches and investment opportunities that promise substantial returns in one of the fastest-growing real estate markets in India.