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Puravankara Acquires Land Parcel in Bengaluru, India for Real Estate Project

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Real estate developer Puravankara (NSE:PURVA, BOM:532891) has acquired a 14.6-acre land parcel located in Bengaluru with a potential gross development value of around 23 billion Indian rupees, according to a Monday filing to the Indian stock exchanges.

Of this total area, 7.92 acres are part of a joint development agreement, while the company has secured 6.65 acres.

The total saleable area for the entire project is estimated at 1.8 million square feet. With this latest acquisition, Puravankara's total landbank of developable area in Bengaluru has increased to 25.61 mmillion square feet.

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