Puravankara shares jumped 4% to touch an intraday high of ₹223.7 apiece on Tuesday, September 22, following the company's announcement of its strategic land acquisition in Delhi-NCR. The stock performance reflects strong investor confidence as the company enters the National Capital Region through this significant development opportunity. As per The Economic Times, the shares were trading at ₹216.50 apiece on the BSE at 1:02 PM, gaining 0.6%. The positive market response demonstrates investor approval of Puravankara's strategic move to enter the Delhi-NCR real estate market through this substantial land acquisition, with the stock having declined 10% so far this year and fallen 20% year-on-year.
Puravankara has entered the Delhi-NCR real estate market through the allotment of a 13.44-acre land parcel in Greater Noida via its wholly-owned subsidiary, Prudential Housing and Infrastructure Development Limited. According to the company's regulatory filing, the acquisition represents the company's largest land transaction in FY27 so far. The parcel offers a saleable potential of approximately 4.57 million sq. ft. and carries an estimated Gross Development Value (GDV) of around ₹5,200 crore. As per The Economic Times, the company secured the land parcel for ₹340 crore, though the exact land cost was not disclosed in the regulatory filing. This acquisition marks the company's maiden entry into Delhi-NCR and stands as its largest land transaction in FY27. The proposed township is planned as an integrated industrial and urban ecosystem.
The Delhi-NCR entry forms part of Puravankara's broader strategy to expand into high-growth residential markets beyond Southern and Western India. Ashish Puravankara, managing director of the company, stated that "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." According to The Economic Times, he added that "With a ₹5,200 crore development opportunity, this is a meaningful first step towards building a strong presence in NCR while remaining disciplined in our approach to capital deployment and growth." The acquisition comes after Mumbai-based luxury home developer Oberoi Realty Ltd recently made a strong debut in Gurugram with ₹8,109 crore of sales bookings from the launch of Three Sixty North, its maiden project in the NCR. The company plans to continue evaluating opportunities across Delhi-NCR that meet its development, return and capital-efficiency criteria.
The secured land in Greater Noida benefits from its proximity to the Yamuna Expressway and the upcoming Noida International Airport at Jewar, both of which are expected to bolster regional connectivity and support economic and employment growth. As reported by The Economic Times, the company plans to develop the allotted land as an integrated township. Rajat Rastogi, CEO - West & Commercial Assets at Puravankara, commented that "Greater Noida presents a compelling opportunity for Puravankara to establish its presence in NCR at a meaningful scale." According to Anarock Group's Santhosh Kumar, "Greater Noida has seen substantial growth in sales and prices in recent times. The industrial policy of the Uttar Pradesh government has prompted many MNCs to set up their factories that has also propelled residential growth. The Jewar airport, of course, has added to this momentum."
Following this acquisition, Puravankara's FY27 business development across Delhi-NCR, Mumbai and Bengaluru spans approximately 10.74 million sq. ft. of saleable area and carries an estimated GDV of ₹14,100 crore. According to The Economic Times, as of June 30, 2026, Puravankara had completed 97 projects totalling around 59 million square feet across nine cities including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa. The company maintains a total land bank of around 40 million square feet, while ongoing projects covered 35.14 million square feet. The company will pursue new business development opportunities through a mix of outright acquisitions and joint development agreements as it selectively expands into new geographies. Kumar noted that "For years, the NCR market was dominated by regional developers, as outside players stayed away amid perceptions of difficult approvals, a lack of transparency and an investor-dependent market. This has changed. There is better transparency, as a result of which most of the developers entering NCR are listed, established firms who want to expand and become pan-India players."
Puravankara reported strong Q1 FY27 financial results with a profit after tax of ₹25 crore, compared to a loss of ₹69 crore in Q1 FY26. As per The Economic Times, the company's EBITDA margin expanded significantly to 25% from 15% in the previous year. The company's total revenue for Q1 FY27 stood at ₹877 crore, up 63% year-on-year from ₹539 crore in Q1 FY26. Operating inflows for the quarter stood at ₹1,423 crore against operating outflows of ₹1,078 crore, resulting in an operating surplus of ₹345 crore. The company handed over 745 homes covering 0.94 million sq. ft. during the quarter, up from 667 units in Q1 FY26. In Q1 FY27, Puravankara recorded pre-sales of ₹1,439 crore, up 28% year-on-year, on sales volume of 1.36 million sq. ft. across 1,017 units. The company also announced four land transactions in Bengaluru spanning approximately 41.93 acres with a cumulative development potential of around 4.23 million sq. ft.
