Puravankara adds Bengaluru project with ₹2,500 crore GDV

what happened

Real estate developer Puravankara said on October 12 that it had entered into a joint development agreement for a 12.76-acre plot in Sathanur, North Bengaluru. CNBC TV18 reported that the planned residential project carries an estimated gross development value of ₹2,500 crore. The development is expected to provide approximately 1.90 million square feet of saleable space, according to the company’s exchange filing.

Puravankara CEO Mallanna Sasalu said end-user demand in Bengaluru remains healthy. The company has not disclosed when the project will be launched or how long construction will take. It said its immediate priorities were securing approvals and carrying out the development while preserving capital efficiency. Sasalu said the company wanted to turn the opportunity into a well-planned project focused on product quality, prompt approvals and effective execution, in line with changing homebuyer expectations.

Managing Director Ashish Puravankara said the group was adding land strategically to expand its development pipeline with projects offering scale, market potential and visibility for future growth. Including the Sathanur agreement, Puravankara’s business-development additions for financial year 2027 now total eight projects in Bengaluru, Mumbai and the Delhi-National Capital Region. Across these additions, the company estimates roughly 12.64 million square feet of development capacity and combined GDV of ₹16,600 crore.

The latest agreement follows the company’s September 2026 move into the Delhi-NCR property market. Its wholly owned subsidiary, Prudential Housing and Infrastructure Development, was allotted a 13.44-acre parcel in Greater Noida, with saleable potential of approximately 4.57 million square feet and estimated GDV of ₹5,200 crore. Six of the eight additions are in Bengaluru, covering Sathanur, Mandur, Doddagubbi, Sanna Ammanikere, Sarjapur and south-east Bengaluru. Together, they represent about 7.02 million square feet of development potential and GDV of ₹8,800 crore. In Mumbai, Puravankara added a Goregaon West redevelopment project with estimated GDV of ₹2,600 crore and around 1.05 million square feet of saleable area.

As of June 30, 2026, the company had completed 97 projects covering approximately 59 million square feet across nine cities. Its land bank stood at about 40 million square feet, while projects under construction covered 35.14 million square feet. Puravankara shares were up 1.3% at ₹210.00 on October 12.

why it matters

The agreement expands Puravankara’s Bengaluru pipeline and adds to the scale of its FY27 development additions. Market assessment will also depend on approvals, project execution and the company’s ability to maintain capital efficiency.

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