
Puravankara Limited, a leading real estate developer, has announced that its wholly owned subsidiary, PPL Hebbal Developers’ Private Limited, has invested Rs 2.96 crore to acquire a 24.99% stake in NBD Office Park LLP. The acquisition is aimed at consolidating operations for better synergy, as NBD Office Park LLP operates in the same real estate sector as Puravankara.
Key Details of the Acquisition:
- Target Entity: NBD Office Park LLP, a real estate business incorporated on December 13, 2022, with a net worth of Rs 7.46 crore as of FY24.
- Transaction Type: The acquisition involves a capital contribution of Rs 2.96 crore, completed as of January 13, 2025.
- Shareholding: PPL Hebbal Developers’ Private Limited now holds a 24.99% partnership interest in NBD Office Park LLP.
- Purpose: The move is intended to create better synergy within the group, aligning with Puravankara’s growth strategy in the real estate market.
This acquisition further strengthens Puravankara’s footprint in the real estate sector, leveraging partnerships for enhanced operational efficiency.