Puravankara Announces Joint Development Agreement for 6.4 Acres in Bengaluru with Rs 1,000 Crore Potential GDV
Bengaluru: Real estate developer Puravankara Limited has entered into a joint development agreement (JDA) concerning a 6.4-acre land parcel located in Sarjapur, Bengaluru. The project carries an estimated Gross Development Value (GDV) of Rs 1,000 crore and will be developed as a residential community. The saleable area for this particular project is approximately 0.8 msft.This strategic acquisition strengthens Puravankara’s growth pipeline in the city. The company reported that the total potential GDV from acquisitions and JDAs during Q1FY27 stands at Rs 5,200 crore.
Commenting on the development, Ashish Puravankara, Managing Director of Puravankara Limited, stated that Bengaluru remains a crucial growth market for the company. The joint development reinforces their commitment to increasing presence across high-potential urban corridors. He noted that while pursuing the FY27 growth agenda, the focus is on securing quality land parcels in markets supported by infrastructure, employment density, and sustained homebuyer demand to create long-term value for stakeholders.
The site, situated in Kaggalipura Village, Sarjapura Hobli, benefits from excellent connectivity via the Outer Ring Road and Sarjapur Road. The area is also well-connected to the Electronic City technology corridor and other primary employment hubs. This corridor has emerged as a desirable location for IT professionals and homebuyers seeking quality housing due to limited availability of organized residential projects from established developers.
Mallanna Sasalu, CEO of Puravankara Limited, added that the combination of outright acquisitions and joint development agreements across key Bengaluru micro-markets reflects a calibrated growth strategy prioritizing scale creation with capital efficiency. He emphasized that the pace and quality of these additions indicate steady strengthening of the company’s development pipeline in Bengaluru.
The Q1FY27 land transactions underscore the company's strong business momentum. These deals encompass approximately 41.93 acres, resulting in a cumulative development potential of around 4.23 msft and a total estimated GDV of Rs 5,200 crore. Sarjapur represents a micro-market where limited branded supply, improving connectivity, and strong end-user demand create a significant opportunity for value creation through these partnerships.
Corporate Overview and Portfolio Status
Puravankara Limited is a leading name in Indian real estate with operations spanning across India. The company has been involved in housing and plotted development needs for over five decades. Puravankara’s subsidiary, Starworth Infrastructure and Construction Limited (SICL), focuses on technology-enabled construction solutions. The group also maintains a presence in developing Grade A commercial real estate, totaling approximately 3 msft.As of March 31, 2026, the company has completed 95 projects across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
The status of Puravankara’s land and ongoing projects is detailed in the table below:
| Metric | Value |
|---|---|
| Total Land Bank | ~40 msft |
| Ongoing Projects | 36.69 msft |
PURVA Stock Price Movement
Shares of Puravankara Limited slipped by 1.20% to settle at ₹212.05 on Thursday, reflecting a loss of ₹2.57 during the trading session. The stock traded amidst market activity, with 59,621 shares recorded in volume for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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