Highlights
- Puravankara signed a JDA for a 6.4-acre land parcel in Sarjapur, Bengaluru.
- The residential project has an estimated Gross Development Value of INR 1,000 crore.
- Q1FY27 acquisitions and JDAs have taken the company's potential GDV to INR 5,200 crore.
Puravankara Limited (NSE:PURVA) has announced the signing of a joint development agreement (JDA) for a 6.4-acre land parcel in Sarjapur, Bengaluru. The proposed residential development has an estimated Gross Development Value (GDV) of INR 1,000 crore.
The announcement was made through a stock exchange filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: Analysis by Kalkine
Residential Project Planned in Sarjapur
According to the company, the project will have a saleable area of approximately 0.8 million square feet (msft) and will be developed as a residential community catering to demand in the Sarjapur corridor.
The company stated that the addition takes its total potential GDV from acquisitions and JDAs announced during Q1FY27 to INR 5,200 crore.
Strategic Location
The land parcel is located at Kaggalipura Village, Sarjapura Hobli, Bengaluru. According to the company, the site has connectivity through Sarjapur Road and the Outer Ring Road, while also providing access to the Electronic City technology corridor and other employment hubs.
The company said the corridor has witnessed demand from IT professionals and homebuyers, supported by limited organised residential supply from established developers.
Management Commentary
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.”
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.”
Development Pipeline Expands
According to the company, the four land transactions announced during Q1FY27 together cover approximately 41.93 acres, with a cumulative development potential of around 4.23 million square feet and an estimated GDV of INR 5,200 crore.
The company said the latest agreement further expands its development pipeline in Bengaluru.
Key Risks
- Project approvals may influence development timelines.
- Residential demand may vary across market cycles.
- Construction costs could affect project economics.
- Execution remains subject to regulatory clearances.
Summary
Puravankara has entered into a joint development agreement for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated GDV of INR 1,000 crore. The residential project adds around 0.8 million square feet of saleable area and takes the company's total potential GDV from Q1FY27 acquisitions and JDAs to INR 5,200 crore.
FAQs
Q: What is the estimated GDV of Puravankara's new Bengaluru project?
A: The residential project has an estimated Gross Development Value of approximately INR 1,000 crore.
Q: Where is Puravankara's latest land parcel located?
A: The 6.4-acre land parcel is located at Kaggalipura Village, Sarjapura Hobli, Bengaluru.
Q: What is Puravankara's total potential GDV from Q1FY27 acquisitions and JDAs?
A: The company said its total potential GDV from Q1FY27 acquisitions and JDAs has reached INR 5,200 crore.