Online Gaming Firm Gameskraft Buys 8.61-acre Land in Gurugram for Rs 90 Crore

Online Gaming Firm Gameskraft Buys 8.61-acre Land in Gurugram for Rs 90 Crore

The documents showed that the sale deed was executed on March 11, 2024. Gameskraft Technologies Private Limited paid a stamp duty of Rs 6.3 crore for the transaction along with a registration fees of Rs 50,000.

Bengaluru-based online gaming company Gameskraft has purchased an 8.61-acre land at Gurugram in Haryana for Rs 90 crore, according to documents accessed by Propstack, a real estate data platform.

The documents showed that the sale deed was executed on March 11, 2024. Gameskraft Technologies Private Limited paid a stamp duty of Rs 6.3 crore for the transaction along with a registration fees of Rs 50,005.

According to the documents, the land parcel measures 8.61 acre and is located in the Balola village of Gurugram district under Wazirabad sub-tehsil. The type of the purchased property is agriculture land, documents showed.

Gameskraft, an online skill-based gaming company, was started in 2017 by Prithvi Raj Singh and is headquartered in Bengaluru in Karnataka. In December 2023, Singh was awarded the ‘Champions of Change’ award for his contribution to skill development initiatives.

Gameskraft’s portfolio of real-money gaming platforms include online rummy game Rummyculture and a multi-game platform Gamezy that offers rummy, fantasy sports, and online ludo, among others. It also offers skill-based gaming brands, social rummy app Playship, and online poker app Pocket52. The company has more than 700 employees.

Rishi Wadhera, Vice President, Corporate Communications and CSR, Gamekraft, said, “Yes, we have bought land for developing an educational facility as part of our broader social initiatives.”

The company in a statement also said that it has secured land in Gurugram and plans for the development of an educational facility through its social arm, Gameskraft Foundation.

“…This development signifies our ongoing commitment to skill-building and education, furthering our mission to make a meaningful difference in society,” Wadhera said in the statement.

The online gaming firm has been in news over the last few years for alleged evasion of Goods and Services Tax. In September 2022, a GST intelligence unit had issued a show-cause notice to Gameskraft Technology Private Ltd (GTPL), alleging that the company failed to pay Rs 21,000 crore in GST. The notice was for the period between June 30, 2017, and June 30, 2022.

Gameskraft then had approached the Karnataka HC, challenging the show-cause notice. In May 2023, the HC quashed the show-cause notice. The revenue intelligence unit of the GST department thus appealed against this judgment in the Supreme Court.

Despite facing a continuous scrutiny, Gameskraft posted a total profit of Rs 1,061.86 crore for the financial year 2022-23, marking a 14.1 percent increase from Rs 930.5 crore profit in the financial year 2021-22.

Big-ticket deals

Delhi NCR, which includes Gurugram, has been witness to many big-ticket property purchases in the recent past. In January 2024 Smiti Agarwal, a director at Wesbok Lifestyle Pvt Ltd and wife of V Bazaar CMD Hemant Agarwal, purchased an apartment in The Camellias by DLF in Gurugram for Rs 95 crore.

In November 2023, Countrywide Promoters, a subsidiary of developer BPTP Group, bought a 5.24-acre plot in Gurugram near the Dwarka Expressway for Rs 87.27 crore.

In October 2023, a 11,000 sq ft apartment at The Camellias by DLF in Gurgaon’s Golf Course Road was sold for more than Rs 100 crore in a resale.

In June 2023, Cricketer Virat Kohli leased out 18,430 square feet of office space in Gurugram for an annual rental of Rs 1.27 crore to a corporate firm Mynd Integrated Solutions.

source : Money Control

Related Posts

ENQUIRE NOW