Puravankara launches first NCR project in Greater Noida
Real estate developer Puravankara Ltd has entered the Delhi-NCR market with a ₹5,200 crore township project in Greater Noida, marking a major geographic
Bengaluru-based Puravankara Ltd has launched its first project in the National Capital Region. The Greater Noida development, spanning 13.44 acres, carries a gross development value of ₹5,200 crore.
Ashish Puravankara, the company's managing director, said the entry marks an important new chapter. 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, he stated. The project will be executed through subsidiary Prudential Housing and Infrastructure Development Ltd.
Project Scale and Strategy
The development has a saleable potential of 4.57 million square feet. It is planned as an integrated industrial and urban ecosystem. Puravankara described Greater Noida as offering the scale, infrastructure momentum, and long-term demand required for a new market entry. This land acquisition is the developer's largest so far this fiscal year.
The company will pursue further growth through outright acquisitions and joint development agreements. Including the Greater Noida project, Puravankara's business development pipeline for FY27 spans 10.74 million sq ft of saleable area with an estimated gross development value of ₹14,100 crore across Delhi-NCR, Mumbai, and Bengaluru.
A Shifting Competitive Landscape
Puravankara joins a growing list of developers from Bengaluru and Mumbai entering NCR. This follows recent moves like Oberoi Realty Ltd's strong Gurugram debut. For years, outside players avoided the NCR market due to perceptions of difficult approvals and a lack of transparency.
That 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, said Santhosh Kumar, vice-chairman at Anarock Group. Market dynamics are shifting.
According to a Knight Frank India report covering January-June 2026, Gurugram, Noida, and Greater Noida dominate residential activity in the region. The breakdown of market share is as follows:
| Market | Share of New Launches | Share of Total Sales |
|---|---|---|
| Gurugram | 50% | 42% |
| Noida & Greater Noida | 28% | 35% |
Market Drivers and Momentum
Greater Noida has seen substantial growth in sales and prices recently. Santhosh Kumar of Anarock pointed to the Uttar Pradesh government's industrial policy as a key driver, attracting multinational corporations to set up factories and propelling residential demand. The upcoming Jewar airport has added further momentum to the area's prospects.
The company's shares traded at ₹216.50 apiece on the BSE, up 0.6%, following the announcement. Puravankara's entry represents a significant bet on the continued expansion of the NCR's real estate frontier beyond its traditional core.
