Latest news with #PuravankaraLimited
Business Standard
11-07-2025
- Business
- Business Standard
Puravankara Pre-Sales at Rs 1,124 crores in Q1, Price Realisation Up by 9%
VMPL Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over Rs 2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations. Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation." Key Highlights -Puravankara selected as preferred developer for redeveloping eight residential societies in Chembur, Mumbai, unlocking over 1.2 million sq. ft. of potential across ~4 acres, with an estimated potential Gross Development Value (GDV) of Rs 2,100 crore. -Entered into a joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated combined potential GDV of over Rs 1,000 crores. -Achieved quarterly sales value of Rs 1,124 crores for Q1FY26 when compared to Rs.1,064 crore in Q1FY25; up by 6% y-o-y. -Achieved quarterly sales volume of 1.25 million square feet for Q1FY26 when compared to 1.29 million square feet in Q1FY25. -Average price realisation in Q1FY26 increased to Rs 8,988 /sft, up by 9% from Rs 8,246/sft in Q1FY25. -Achieved quarterly customer collections from the real estate business of Rs 857 crores in Q1FY26. -The company is on track to complete 2.2 million square feet of commercial projects this year. Outlook India's economic outlook for FY26 remains positive, with GDP growth projected to be between 6.2% and 6.5%, supported by resilient domestic demand and robust rural consumption. The Reserve Bank of India, in its June 2025 policy review, delivered a 50-basis-point cut in the repo rate, bringing it down to 5.50%, while also reducing the Cash Reserve Ratio by 100 basis points to 3% to inject liquidity into the system. These measures are expected to stimulate credit growth and further lower borrowing costs, benefiting both end-users and developers. Inflation remains within the RBI's target band, allowing policy to remain growth supportive. The real estate sector continues to strengthen, driven by steady demand for premium housing and robust office leasing from IT, BFSI, and GCC companies. With improving affordability, lower home loan rates, and rising sector consolidation, Puravankara is well-positioned to leverage these tailwinds.
The Wire
11-07-2025
- Business
- The Wire
Puravankara Pre-Sales at Rs 1,124 crores in Q1, Price Realisation Up by 9%
Ashish Puravankara, Managing Director, Puravankara Limited Bengaluru, India: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, 'As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over Rs 2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations. Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation.' Key Highlights • Puravankara selected as preferred developer for redeveloping eight residential societies in Chembur, Mumbai, unlocking over 1.2 million sq. ft. of potential across ~4 acres, with an estimated potential Gross Development Value (GDV) of Rs 2,100 crore. • Entered into a joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated combined potential GDV of over Rs 1,000 crores. • Achieved quarterly sales value of Rs 1,124 crores for Q1FY26 when compared to Rs.1,064 crore in Q1FY25; up by 6% y-o-y. • Achieved quarterly sales volume of 1.25 million square feet for Q1FY26 when compared to 1.29 million square feet in Q1FY25. • Average price realisation in Q1FY26 increased to Rs 8,988 /sft, up by 9% from Rs 8,246/sft in Q1FY25. • Achieved quarterly customer collections from the real estate business of Rs 857 crores in Q1FY26. • The company is on track to complete 2.2 million square feet of commercial projects this year. Outlook India's economic outlook for FY26 remains positive, with GDP growth projected to be between 6.2% and 6.5%, supported by resilient domestic demand and robust rural consumption. The Reserve Bank of India, in its June 2025 policy review, delivered a 50-basis-point cut in the repo rate, bringing it down to 5.50%, while also reducing the Cash Reserve Ratio by 100 basis points to 3% to inject liquidity into the system. These measures are expected to stimulate credit growth and further lower borrowing costs, benefiting both end-users and developers. Inflation remains within the RBI's target band, allowing policy to remain growth supportive. The real estate sector continues to strengthen, driven by steady demand for premium housing and robust office leasing from IT, BFSI, and GCC companies. With improving affordability, lower home loan rates, and rising sector consolidation, Puravankara is well-positioned to leverage these tailwinds. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.).
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.
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.
