Puravankara Eyes ₹55,000 Cr Expansion: Data Centers Next?

Puravankara Limited has announced a significant expansion, with plans to launch 30 projects over the next two years. These developments will span 51.14 million sq ft and are estimated to have a gross development value (GDV) of over ₹55,000 crore. The majority of these projects are slated for South India and Mumbai.

The company is also venturing into new growth areas, with managing director Ashish Puravankara indicating a potential entry into the data centre segment. This strategic move follows a thorough study of the asset class, with the developer now seeing a more favorable market timing. Puravankara is also preparing to enter the Delhi-NCR market soon.

The near-term pipeline alone is valued at ₹35,636 crore, covering approximately 33 million square feet of launches over the next 30 months. A substantial 25 million square feet of this will be in southern markets. Crucially, 70-75% of project costs, predominantly land acquisition, have already been incurred, significantly reducing execution risks for future launches.

Residential prices are expected to continue their upward trend, with annual increases projected at over 8%, outpacing inflation. Puravankara currently has an ongoing launch inventory of ₹19,742 crore. Commercial development represents a smaller but growing segment, with 2 million square feet already developed and more approvals in progress.