Bengaluru :
Puravankara Group (NSE: PURVA | BSE: 532891), one of India’s leading real
estate developers, has entered into the joint development of a 4-acre land
parcel on Hennur Road in Bengaluru, with an estimated gross development value
(GDV) of over Rs 1,300 crore. The acquisition aligns with the company’s
strategic vision to expand its footprint in key Bengaluru micro-markets that
offer robust infrastructure, strong connectivity, and sustained residential
demand.
Commenting
on the development, Ashish Puravankara, Managing Director, Puravankara
Limited, said, “Bengaluru continues to be one of India’s most resilient
and fastest-growing residential markets, supported by strong employment growth,
infrastructure investments, and sustained housing demand. Within the city,
North Bengaluru has emerged as a key growth corridor, driven by its proximity
to Kempegowda International Airport, expanding tech parks, and improving
connectivity. Hennur Road, in particular, has seen steady traction from
homebuyers due to its access to employment hubs and well-developed social
infrastructure. This joint development aligns with our strategy of expanding
through asset-light partnerships in high-potential micro-markets while
delivering thoughtfully designed homes that cater to evolving urban
lifestyles.”
The land parcel offers a total saleable area
of approximately 0.84 million square feet. Located on Hennur Road in Bengaluru,
the site benefits from steady demand, driven by its proximity to major tech
parks and well-established social and physical infrastructure.
Mallanna Sasalu, CEO - South, Puravankara Limited,
added, “This project reflects our continued focus on expanding our presence
across high-demand residential corridors in Bengaluru through capital-efficient
partnerships. With steady demand in the micro-market, we are confident the
project will see strong buyer interest. We expect to bring it to market within
the next 6–12 months and believe it will further strengthen our Bengaluru
portfolio.
Earlier this year, we strengthened our Bengaluru growth pipeline
through several strategic acquisitions. These include a 53.5-acre land parcel
in Anekal Taluka, with a development potential of 6.4 million sq. ft. and an
estimated GDV of over Rs 4,800 crore. We are also developing a 24.59-acre parcel
at KIADB Hardware Park in North Bengaluru, in partnership with KVN Property
Holdings LLP, with a development potential of 3.48 million sq. ft. and a GDV of
over Rs 3,300 crore. In addition, we have undertaken a 5.5-acre joint
development in Balagere, East Bengaluru, with a developable area of 0.85
million sq. ft. and a GDV of over Rs 1,000 crore.”