Puravankara Eyes Delhi-NCR Entry With ₹5,200 Cr GDV Project, Shares in Focus

The company informed exchanges that the Greater Noida site, located near the Yamuna Expressway, offers an estimated saleable potential of approximately 4.57 million square feet, with a projected Gross Development Value (GDV) of around Rs 5,200 crore. This represents Puravankara’s largest land transaction in the current financial year. The company points to Greater Noida’s well-planned industrial and urban infrastructure and the upcoming Noida International Airport at Jewar as key reasons behind its choice of location, signaling a strong vote of confidence in the region’s prospects.

Shares of Puravankara Ltd. responded positively to the news, closing at Rs. 218.12 on the day, up 1.48 percent from the previous close. The stock saw intraday movement between a high of Rs. 223.70 and a low of Rs. 214.00, with the company’s market capitalization now standing at Rs. 5,173 crore.

This NCR foray comes against the backdrop of healthy financial performance. According to its latest quarterly results, Puravankara’s consolidated revenue surged by 62.86 percent year-on-year to Rs. 877.15 crore in Q1 FY27, up from Rs. 538.64 crore in the same quarter of the previous year. On a sequential basis, however, revenue declined by 43.08 percent from Rs. 1,540.99 crore in Q4 FY26. The company reported a net profit of Rs. 25.23 crore in Q1 FY27, a turnaround from a net loss of Rs. 68.55 crore in Q1 FY26, though net profit was down sharply compared to Rs. 109.95 crore posted in the previous quarter. Basic earnings per share for the quarter stood at Rs. 1.22.

While Puravankara has traditionally focused on residential and plotted developments in South and West India, with a smaller presence in Grade A commercial real estate and interiors through Purva Streaks, the Greater Noida acquisition opens the door to a new, high-growth market. The company reports a total land bank of roughly 40 million square feet, with ongoing projects spanning about 35.14 million square feet. Alongside a recent Rs 2,600 crore redevelopment win in Mumbai’s Goregaon West and continued activity in home markets like Bengaluru, Puravankara’s business development footprint for FY27 now covers approximately 10.74 million square feet and Rs 14,100 crore in potential value across Delhi-NCR, Mumbai, and Bengaluru.

The expansion comes at a time of sustained momentum for the Delhi-NCR housing market. Despite a marginal slowdown in transaction values during the first quarter of FY27, nationwide housing prices grew by 6 percent year-on-year, with Greater Noida tracking similar growth and demonstrating resilience in volumes. The area is benefiting from a wave of infrastructure-driven demand, primarily fuelled by projects like the Yamuna Expressway and the new airport at Jewar, with some analysts forecasting annual appreciation as high as 12-15 percent along the corridor.

Puravankara’s entry into NCR is additive rather than a shift in focus, as evidenced by subsidiary Provident Housing’s recent launch of Phase 6 of the Provident Equinox project in Bengaluru. The group, which boasts nearly five decades of experience and a track record of 97 completed projects totaling around 59 million square feet across nine cities, now adds Greater Noida as its tenth market and a major new chapter in its expansion strategy.