Real estate developer Puravankara (NSE:PURVA, BOM:532891) has entered into a joint development agreement for a four-acre land parcel in Bengaluru, India, according to a Monday filing to the Indian stock exchanges.
The land parcel offers a total saleable area of approximately 0.84 million square feet for its proposed residential project, with an estimated gross development value of over 13 billion Indian rupees.
The company expects to bring the project to market within the next six to 12 months.
The company's shares were down over 4% in recent trade.
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