Puravankara bags Rs 630 cr land deal in Hyderabad

New Delhi, Nov 21 (UNI) Puravankara Projects Ltd today said it has bagged a tender from the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for development of project at the Hi-tech City, Hyderabad, which entails an investment of over Rs 3,500 crore.

''Our bid for the land deal was for Rs 630 crore,'' said a company statement.

The scope of project involves development of about 6.5 million sq ft area, which will be used for mixed development of high-end ultra luxury retail, residential, commercial and hospitality complexes.

APIICC had floated the tender for the project with a reserve price of Rs 20 crore per acre and received three bids including DLF and BPTC.

High-Tech City is the new IT destination in the country and the area is rapidly developing with world class infrastructure facilities.

UNI