Gameskraft Technologies acquires 8.61 acres of land in Gurugram for Rs. 90 Crore

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Bengaluru-based online gaming company Gameskraft Technologies Private Limited has acquired an 8.61-acre land parcel in Gurugram, Haryana, for Rs. 90 crore. The transaction was revealed through documents accessed by Propstack. Propstack is a real estate data platform.

The purchased land is situated in Balola village under the Wazirabad sub-tehsil of Gurugram district, and is designated as agricultural land, as per the documents. Gameskraft Technologies Private Limited, paid a stamp duty of Rs. 6.3 crore along with a registration fee of Rs. 50,005 for the acquisition.

Confirming the purchase, Rishi Wadhera, Vice President of Corporate Communications and CSR at Gameskraft, stated, “Yes, we have bought land for developing an educational facility as part of our broader social initiatives.” The company further elaborated on its plans to establish an educational institution through its social arm, Gameskraft Foundation, as part of its commitment to skill-building and education.

Gameskraft has been acknowledged for its contribution to skill development initiatives, with Prithvi Raj Singh himself receiving the ‘Champions of Change’ award in December 2023. Despite recent controversies, including allegations of Goods and Services Tax (GST) evasion, the company has posted a total profit of Rs. 1,061.86 crore for the financial year 2022-23.

As reported by Hindustan Times, In 2022, a notice was issued by the GST intelligence unit against the company, declaring that it had neglected to remit Rs. 21000 crore in GST dues. Afterwards, the company asked the Karnataka High Court to review the notice and decide if it was valid. This led to the notice being canceled. Following this, the revenue intelligence unit of the GST department lodged an appeal against the High Court’s ruling in the Supreme Court. In 2021, the company also bought an office space in Bengaluru for Rs. 129.99 crore.

The move to acquire land in Gurugram follows a trend of property purchases in the Delhi NCR region. In January 2024, Smiti Agarwal, director at Wesbok Lifestyle Pvt Ltd, acquired an apartment in The Camellias by DLF for Rs. 95 crore, while in November 2023, Countrywide Promoters, a subsidiary of BPTP Group, purchased a 5.24-acre plot near the Dwarka Expressway for Rs. 87.27 crore.