The company plans to develop a high-end, ultra-luxury boutique residential project on the site, which carries a planned built-up potential of around 55,600 sq. ft. The acquisition marks a significant expansion of Umiya Buildcon's premium real estate portfolio and aligns with its strategy of focusing on design-led developments in high-demand, supply-constrained micro-markets like Bengaluru's CBD. The project is expected to contribute an estimated ₹200 crore to the company's balance sheet upon completion, supported by strong demand for luxury residences in the micro-market where new supply remains limited. It is also expected to add to premium housing stock and spur incremental economic activity in the region. Commenting on the development, Aniruddha Mehta, chairman & MD, said, 'This strengthens our presence in Bengaluru's ultra-prime residential segment. The Bengaluru CBD remains one of the most coveted locations, and this project underpins our commitment to delivering architecturally distinctive, future-ready homes that offer long-term value.' Umiya Buildcon is engaged in business activity is manufacture and supply, as well as distribution of Access and Networking equipment & Solutions. The company's consolidated net profit surged 242.3% to Rs 6.71 crore on 59.8% rise in revenue from operations to Rs 20.57 crore in Q2 FY26 over Q2 FY25. Powered by Capital Market - Live News |