Bengaluru : Puravankara Limited (NSE: PURVA |
BSE: 532891), one of India's most trusted and admired real estate developers,
has entered into a joint development agreement (JDA) for a 6.4-acre land parcel
in Sarjapur, Bengaluru, with an estimated Gross Development Value (GDV) of Rs
1,000 crore. The project has a saleable area of approximately 0.8 msft and will
be developed as a residential community catering to the growing demand in this
emerging corridor. This latest addition further strengthens Puravankara's development
pipeline in the city, bringing the company's total potential GDV from
acquisitions and JDAs in Q1FY27 to Rs 5,200 crore.
Commenting on the development, Ashish Puravankara,
Managing Director, Puravankara Limited, said, "Bengaluru continues
to be one of our most important growth markets, and this joint development
reinforces our commitment to deepening our presence across high-potential urban
corridors. As we pursue our FY27 growth agenda, our focus remains on securing
quality land parcels in markets backed by infrastructure, employment density,
and sustained homebuyer demand, while creating long-term value for our
stakeholders.”
Strategically located in Kaggalipura Village, Sarjapura
Hobli, the site is well-positioned for growth, with excellent connectivity via
Sarjapur Road and the Outer Ring Road. It also enjoys good connectivity to the
Electronic City technology corridor and other key employment hubs. The corridor
has emerged as a preferred destination for IT professionals and homebuyers
seeking quality housing, supported by the limited availability of organised
residential projects from reputed developers.
Mallanna Sasalu, CEO, Puravankara Limited, added, "The mix of outright acquisitions and joint
development agreements across key Bengaluru micro-markets reflects our
calibrated growth strategy, combining scale creation with capital efficiency.
The pace, scale, and quality of these additions indicate that the company is
moving in the right direction and steadily strengthening its development
pipeline in Bengaluru. Notably, in Q1FY27 alone, Puravankara announced four
land transactions in quick succession, underlining the company’s strong
business development momentum and the ability to consistently add
high-potential projects to its portfolio. Together, these deals span
approximately 41.93 acres, with 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 strong end-user
demand, improving connectivity, and limited branded supply create a compelling
opportunity for value creation. Through such partnerships, Puravankara is able
to optimise capital deployment, expand across multiple high-growth corridors,
and strengthen the overall quality and depth of its project pipeline.