Puravankara Increases Stake in Sobha Puravankara Aviation (SPAL) to 99.95%

Puravankara Consolidates Ownership of Aviation Subsidiary

Puravankara Limited has successfully acquired the remaining equity shares of Sobha Puravankara Aviation Private Limited (SPAL), increasing its ownership from 89.49% to 99.95%. The transaction was finalized on February 5, 2026.

About the Transaction

This acquisition represents the second step in Puravankara's consolidation of the aviation services company. The move brings the developer's shareholding to near-complete control, reflecting the company's strategic focus on its aviation services arm.

SPAL was established on 30 November 2010 and is engaged in air charter and private aviation within the transport and storage sector, with operations based out of HAL Airport in Bengaluru, Karnataka.

Financial Performance

SPAL reported a turnover of ₹30,77,96,000 in FY 2023-24, demonstrating continued revenue growth in the chartered aircraft services sector.

About Puravankara Limited

Puravankara was established in 1975 by Ravi Puravankara and is headquartered in Bangalore. The company operates in the residential and commercial sectors, having developed projects in Bengaluru, Chennai, Kochi, Coimbatore, Pune, Mumbai, Dubai and Colombo. Beyond residential real estate, Puravankara has diversified its portfolio to include aviation services through its subsidiary SPAL.