VMPL
Bengaluru (Karnataka) [India], March 9: 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."
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