Mumbai, Sept. 2 -- The acquisition was made through its wholly owned subsidiary, Purva Blue Agate. The project, spread across 1.43 acres, offers a development potential of 0.7 million square feet, aiming to deliver premium new homes for existing residents along with a significant portion earmarked for sale. The estimated revenue potential of the project stands at Rs 2,700 crore, positioning it as a landmark luxury development in South Mumbai.

The company clarified that its promoters, promoter group, and group companies have no interest in the awarding entity and confirmed that the transaction does not qualify as a related party transaction under applicable regulatory norms.

Ashish Puravankara, managing director, Puravankara, said, "We a...