Puravankara Projects, one of the leading real-estate developers in the country, has entered into an agreement to sell for its 18 acre property located of Kanakapura Road, Bengaluru.

Earlier, the company announced that it has entered into private equity partnerships for its new acquisitions.

The company has now commenced its foray into strategic private equity partnerships to meet its growth objectives, strengthen its balance sheet and leadership position.

Private equity investments will also allow the group's ability to expand its geographic reach, enhance service offerings and grow the business in support of customer needs.

Shares of the company gained Rs 5.1, or 6.43%, to trade at Rs 84.40. The total volume of shares traded was 196,226 at the BSE (11.39 a.m., Wednesday).