TVS Emerald Acquires 10 Acre Land in Bengaluru

Chennai, Feb 25 (PTI) TVS Emerald has acquired a 10 acre land parcel in Bengaluru, the fourth acquisition made by the real estate developer in the current financial year, a top official said.

With the latest acquisition, TVS Emerald has added land deals with total revenue potential of Rs 5,300 crore, the company said.

Earlier, the city-based realtor had made similar acquisitions with two land parcels in Chennai comprising -- a 12 acre land on the Radial Road and another 4.8 acre land in Padur, Old Mahabalipuram Road. It also purchased a 4 acre land in Thanisandra, Bengaluru during the current financial year, the company said in a statement here on Tuesday.

The 10 acre land parcel that has been recently acquired is located in Sathanur, Bengaluru, the company said.

"We have been growing steadily with multiple acquisitions across Chennai and Bengaluru. The acquisition of this land parcel -- our 4th this year -- will only help us further consolidate our position in the market." TVS Emerald Director and CEO Sriram Iyer said.

The overall potential of projects under development by the brand now stands at 8.2 million sq ft, the statement said.

"Our presence in key micro-markets will help us move closer to a leadership position and reinforce our position as a trusted brand in the residential space," he added.