Latest news with #PuravankaraGroup
Hindustan Times
10-07-2025
- Business
- Hindustan Times
Puravankara inks joint development agreement for 5.5-acre project in East Bengaluru with GDV of over ₹1,000 crore
Bengaluru-based real estate developer Puravankara Group has entered into a Joint Development Agreement (JDA) for a 5.5-acre land parcel in East Bengaluru, with Gross Development Value (GDV) exceeding ₹1,000 crore, the company said. Bengaluru-based real estate developer Puravankara Group has entered into a Joint Development Agreement (JDA) for a 5.5-acre land parcel in East Bengaluru, with Gross Development Value (GDV) exceeding ₹ 1,000 crore. (Representational Image) (File Photo) Located in Balagere, the project is expected to offer a total saleable area of 0.83 million sq ft and a planned launch timeline of six to nine months. "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru's emerging corridors," Ashish Puravankara, Managing Director, Puravankara Limited, said. The move is part of the company's continued strategy to scale up in high-demand Bengaluru micro-markets that offer strong infrastructure and residential traction. Located close to major IT corridors and supported by physical and social infrastructure, Balagere has emerged as a hotspot for premium and mid-segment housing. "The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio," Mallanna Sasalu, CEO of South, Puravankara Limited, said. Also Read: Puravankara to redevelop eight housing societies in Mumbai's Chembur with a gross development value of ₹2,100 crore Previous transactions in Bengaluru In May, the company announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru with an estimated gross development value of ₹3,300 crore. The land parcel has a total saleable area of approximately 3.48 million sq ft, and the project is expected to be launched by November-December. Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of over ₹700 crores. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of ₹3,300 crore.
The Wire
10-07-2025
- Business
- The Wire
Puravankara Announces JDA for 5.5-acre land parcel in East Bengaluru with potential GDV of over Rs 1,000 crores
Ashish Puravankara, Managing Director, Puravankara Limited Bengaluru: Puravankara Group (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has announced the joint development of a 5.5-acre land parcel in East Bengaluru, with a combined estimated gross development value (GDV) of over Rs 1,000 crores. The acquisition aligns with the company's strategic vision to expand its footprint in key Bengaluru micro-markets with robust infrastructure, excellent connectivity, and sustained residential demand. The land parcel offers a total combined saleable area of 0.83 million square feet. Located in Balagere, East Bengaluru, the site enjoys strong and steady market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to be launched in the next six to nine months. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, 'This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru's emerging corridors.' Mallanna Sasalu, CEO – South, Puravankara Limited, added, 'Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio.' Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700+ crores. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
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Business Standard
10-07-2025
- Business
- Business Standard
Puravankara partners landowner to build ₹1K cr housing project in Bengaluru
Realty firm Puravankara Group on Thursday said it has partnered with a landowner to develop a housing project worth around Rs 1,000 crore at Balagere, in East Bengaluru Press Trust of India Bengaluru Realty firm Puravankara Group on Thursday said it has partnered with a landowner to develop a housing project worth around Rs 1,000 crore at Balagere, in East Bengaluru. In a regulatory filing, the company informed that it has signed a joint development agreement (JDA) for a 5.5-acre land parcel in East Bengaluru, with an "estimated gross development value (GDV) of over Rs 1,000 crore." The land parcel offers a total combined saleable area of 0.83 million square feet. Puravankara did not mention the name of the landowner with whom it has signed the JDA and also did not disclose the revenue or profit sharing structure. The project, located in Balagere, is expected to be launched in the next 6-9 months. Ashish Puravankara, Managing Director of Puravankara, said, "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets." Mallanna Sasalu, CEO - South, Puravankara Ltd, said Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. "This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth," he added. Earlier this year, Puravankara acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700 crore. It also announced a joint venture with KVN Properties to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore. Puravankara has completed more than 90 projects covering 53 million sq ft across nine cities -- Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is 25 million square feet and ongoing projects add up to 37 million square feet. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
10-07-2025
- Business
- Business Standard
Puravankara inks ₹1,000-cr JDA for housing project in East Bengaluru
Bengaluru-headquartered real estate major Puravankara Group has announced a joint development agreement for a 5.5-acre land parcel in Balagere, East Bengaluru. The project has an estimated gross development value (GDV) of over ₹1,000 crore. The upcoming development will offer a total saleable area of approximately 0.83 million square feet. Strategically located near key IT hubs and supported by established infrastructure, the site is positioned to cater to the strong residential demand in the area. Ashish Puravankara, Managing Director, Puravankara, said: 'This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru's emerging corridors.' The launch is slated for the next six to nine months and aligns with Puravankara's strategy to deepen its presence in high-growth micro-markets across Bengaluru, characterised by robust infrastructure, strong connectivity, and consistent housing demand. Mallanna Sasalu, Chief Executive Officer – South, Puravankara, added: 'Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off.' In January this year, Puravankara acquired a 3.63-acre land parcel on Kanakapura Road in Bengaluru, with an estimated gross development value (GDV) of over ₹700 crore. Additionally, the company entered into a joint venture with KVN Property Holdings LLP to develop a 24.59-acre site in North Bengaluru, a project expected to generate a GDV of approximately ₹3,300 crore. As of March, Puravankara has completed over 90 projects spanning approximately 53 million square feet across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's current land bank stands at around 25 million square feet, with ongoing developments covering an additional 37 million square feet.
Business Standard
10-07-2025
- Business
- Business Standard
Puravankara Announces JDA for 5.5-acre land parcel in East Bengaluru with potential GDV of over Rs 1,000 crores
VMPL Bengaluru (Karnataka) [India], July 10: Puravankara Group (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has announced the joint development of a 5.5-acre land parcel in East Bengaluru, with a combined estimated gross development value (GDV) of over Rs 1,000 crores. The acquisition aligns with the company's strategic vision to expand its footprint in key Bengaluru micro-markets with robust infrastructure, excellent connectivity, and sustained residential demand. The land parcel offers a total combined saleable area of 0.83 million square feet. Located in Balagere, East Bengaluru, the site enjoys strong and steady market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to be launched in the next six to nine months. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru's emerging corridors." Mallanna Sasalu, CEO - South, Puravankara Limited, added, "Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio." Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700+ crores. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore.
