Prime Highlights
- Puravankara signed a joint development agreement for a 6.4-acre residential project in Sarjapur, Bengaluru, with an estimated GDV of ₹1,000 crore.
- The agreement raises the company’s total potential GDV from land acquisitions and joint development agreements to ₹5,200 crore in the first quarter of FY26.
Key Facts
- Puravankara Ltd. is an Indian real estate developer focused on residential and commercial property projects across major cities.
- The four recent land transactions together span about 41.93 acres and have a development potential of nearly 4.23 million square feet.
Background
Puravankara Ltd. has signed an agreement on a joint venture on a piece of land measuring 6.4 acres in Sarjapur, Bengaluru. The gross development value (GDV) of the project is expected to be about ₹1,000 crore. The project is planned to bring in close to 0.8 million square feet of saleable area, and it’ll be developed like a residential township, to respond to the increasing housing needs.
The land parcel is situated in the Kaggalipura village of Sarjapuri Hobli. It enjoys good connectivity through Sarjapur Road and the Outer Ring Road. The location also provides easy access to the Electronic City technology corridor and other major employment centres, making it attractive for homebuyers and working professionals.
The company said the Sarjapur corridor has become a preferred residential destination, especially among IT professionals. Strong infrastructure development, employment opportunities and limited supply of organised housing projects by established developers have supported demand in the area.
With this agreement, Puravankara has increased its total potential GDV from land acquisitions and joint development agreements to around ₹5,200 crore during the first quarter of FY26.
Managing Director Ashish Puravankara said the company remains focused on acquiring quality land parcels in markets supported by infrastructure, employment growth and steady housing demand. He added that this approach aligns with the company’s FY27 growth plans and aims to create long-term value for stakeholders.
Chief Executive Officer Mallanna Sasalu said the company has completed four land transactions in quick succession. Together, these deals cover about 41.93 acres, with a development potential of nearly 4.23 million square feet and an estimated combined GDV of ₹5,200 crore.
The company’s shares rose in early trade following the announcement, although the stock remains lower for the year.
