Puravankara Announces Joint Development Agreement in Sarjapur, Bengaluru
Puravankara Limited (NSE: PURVA | BSE: 532891) disclosed that it has entered into a joint development agreement (JDA) for a 6.4‑acre land parcel situated in Kaggalipura Village, Sarjapura Hobli, Bengaluru. The development is projected to generate a Gross Development Value (GDV) of approximately Rs 1,000 crore and will comprise about 0.8 million square feet of saleable residential area.
The site benefits from strong connectivity via Sarjapur Road and the Outer Ring Road, and enjoys proximity to the Electronic City technology corridor and other major employment hubs, positioning it well within a corridor that has become a preferred destination for IT professionals and homebuyers seeking quality housing.
Management Commentary
Ashish Puravankara, Managing Director of Puravankara Limited, emphasized that Bengaluru remains a critical growth market and that the JDA reinforces the company’s commitment to deepening its presence across high‑potential urban corridors. He noted that the FY27 growth agenda focuses on securing quality land parcels in markets supported by infrastructure, employment density, and sustained home‑buyer demand, with the aim of creating long‑term stakeholder value.
Mallanna Sasalu, CEO of Puravankara Limited, highlighted the strategic blend of outright acquisitions and JDAs across key Bengaluru micro‑markets as a calibrated growth strategy that balances scale creation with capital efficiency. He pointed out that the pace, scale, and quality of these additions demonstrate the company’s positive trajectory in strengthening its development pipeline in Bengaluru.
Q1FY27 Portfolio Expansion
During the first quarter of FY27, Puravankara announced four land transactions that together cover roughly 41.93 acres, offering a cumulative development potential of about 4.23 million square feet and an aggregate estimated GDV of Rs 5,200 crore. The Sarjapur JDA adds Rs 1,000 crore to this total, bringing the company’s overall potential GDV from acquisitions and JDAs in Q1FY27 to Rs 5,200 crore.
The Sarjapur micro‑market is characterized by strong end‑user demand, improving connectivity, and limited branded residential supply, creating a compelling opportunity for value creation. Through such partnerships, Puravankara aims to optimise capital deployment, expand across multiple high‑growth corridors, and enhance the depth and quality of its project pipeline.
Disclaimer: This press release is provided under an arrangement with NRDPL. PTI takes no editorial responsibility for the content.