Puravankara Group announced a new joint development project on Hennur Road, Bengaluru, with an estimated Gross Development Value (GDV) exceeding ₹1,300 crore. The development involves a 4-acre land parcel and aligns with the company’s asset-light expansion strategy in high-potential micro-markets. The site offers 0.84 million sq. ft. saleable area and is expected to hit the market within 6–12 months.
Puravankara Launches Major Bengaluru Project
Puravankara Group (NSE: PURVA | BSE: 532891) has entered into a joint development agreement for a 4-acre land parcel situated on Hennur Road in Bengaluru. The project commands an estimated Gross Development Value (GDV) of over ₹1,300 crore. This move reinforces the company’s focus on expanding its presence in key Bengaluru micro-markets characterized by robust infrastructure and sustained residential demand.
Strategic Rationale and Location Benefits
Ashish Puravankara, Managing Director, highlighted that North Bengaluru, particularly the Hennur Road corridor, is a key growth zone driven by proximity to Kempegowda International Airport, expanding tech parks, and improved connectivity. The land parcel provides a total saleable area of approximately 0.84 million square feet. This joint development supports the strategy of pursuing asset-light partnerships in high-potential areas.
Market Confidence and Pipeline Expansion
Mallanna Sasalu, CEO – South, expressed confidence in strong buyer interest, noting that the project is expected to be launched within the next 6–12 months. This initiative complements Puravankara’s recent strengthening of its Bengaluru pipeline, which includes:
- A 53.5-acre parcel in Anekal Taluka (GDV over ₹4,800 crore).
- A 24.59-acre parcel at KIADB Hardware Park (GDV over ₹3,300 crore).
- A 5.5-acre joint development in Balagere (GDV over ₹1,000 crore).
Group Snapshot
The Puravankara Group operates three distinct residential brands: Puravankara, Provident Housing Limited (PHL), and Purva Land. As of December 31, 2025, the company has completed 93+ projects measuring approximately ~56 million sq ft across nine cities. The total land bank stood at ~38 msft, with ongoing projects totaling 34 msft.
Source: BSE
