Strategic Initiative: Joint Development Agreement (JDA)

Puravankara Limited has entered into a joint development agreement (JDA) for a 7.83-acre land parcel located in South-East Bengaluru.

Financial and Project Details

  • Gross Development Value (GDV) Potential: Rs 1,100 crore
  • Saleable Area: Approximately 0.89 million square feet (msft)
  • Project Type: Residential community development
  • Location Advantages: Proximity to Electronic City employment corridor, access to Hosa Road and Hosur Road, connectivity via Namma Metro's operational Yellow Line.

Strategic Context and Management Commentary

This transaction represents Puravankara's fifth land acquisition in Bengaluru for fiscal year 2027 (FY27). The company's management emphasized a disciplined, capital-light approach focused on markets with consistent end-user demand.

Ashish Puravankara, Managing Director, stated: "Bengaluru remains the anchor of our growth story... This JDA is consistent with how we have approached every addition to our pipeline this year: disciplined structuring, a capital-light approach, and a clear focus on markets with consistent end-user demand."

Mallanna Sasalu, CEO-South, provided cumulative FY27 business development figures:

  • Total Land Added: 49.76 acres
  • Cumulative GDV Potential: Approximately Rs 6,300 crore
  • Total Saleable Area: Approximately 5.12 million square feet

FY27 Land Additions Breakdown

  • August 2026: South-East Bengaluru - JDA, 7.83 acres, Rs 1,100 crore GDV, 0.89 msft saleable
  • June 2026:
  • Sarjapur - JDA, 6.4 acres, Rs 1,000 crore GDV, 0.80 msft saleable
  • Sanna Ammanikere - Outright acquisition, 9.73 acres, Rs 800 crore GDV, 0.89 msft saleable
  • Doddagubbi - JDA, 11.23 acres, Rs 1,100 crore GDV, 0.74 msft saleable
  • May 2026: Mandur - Secured 14.57 acres, Rs 2,300 crore GDV, 1.8 msft saleable

Company Background (As of June 30, 2026)

  • Completed Projects: 97 projects totaling approximately 59 msft across nine cities (Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa)
  • Total Land Bank: Approximately 40 msft
  • Ongoing Projects: 35.14 msft
  • Commercial Real Estate Presence: Approximately 3 msft of Grade A commercial real estate
  • Additional Business: Interior design arm Purva Streaks provides integrated interior design solutions.