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Real estate developer Puravankara Ltd. has signed a joint development agreement (JDA) for an 11.23-acre land parcel in North Bengaluru, with the proposed residential project carrying an estimated gross development value (GDV) of ₹1,100 crore.
The project, located in Doddagubbi, will have a developable area of around 0.74 million square feet and further strengthens the company's pipeline in Bengaluru, its largest market, the company said in an exchange filing on Monday, June 1.
Commenting on the development, Managing Director Ashish Puravankara said the acquisition aligns with the company's strategy of expanding through a "calibrated and capital-efficient approach" in high-demand urban corridors.
Puravankara added that the project supports its broader growth plans as it works towards its FY27 sales guidance of ₹11,200 crore. The company said it remains focused on markets that offer strong infrastructure, employment hubs and long-term demand visibility.
Read more: Puravankara expects ₹2,300 crore development value from new Bengaluru project
Located in North Bengaluru, Doddagubbi provides access to key residential and commercial hubs, including Hennur, Hebbal, Yelahanka, Manyata Tech Park and Kempegowda International Airport. The area has emerged as a major residential micro-market, supported by improving connectivity and social infrastructure.
The latest addition also expands Puravankara's development pipeline in Bengaluru. Mallanna Sasalu, CEO-South at Puravankara, said the company launched projects, including Purva Silversky and Purva Northern Lights, in the city during FY26, alongside new phases of existing developments.
The announcement comes after a record FY26 for Puravankara, with the company reporting its highest-ever annual sales of ₹7,407 crore, a 55% growth year-on-year, and a strengthened development pipeline across key micro-markets in Bengaluru and Mumbai.
Sasalu added that recent land additions have strengthened the company's Bengaluru pipeline to more than ₹13,800 crore in potential GDV.
Puravankara also swung to profit in the March quarter, posting a consolidated net profit of ₹114.2 crore, compared with a loss of ₹85.5 crore in Q4FY25. Its revenue jumped 177.1% year-on-year to ₹1,502 crore from ₹542 crore last year. EBITDA rose to ₹302 crore from ₹30.5 crore a year earlier. EBITDA margin improved to 20.3% from 5.7%.
Shares of Puravankara have given up early gains and are now trading 0.25% lower on Monday at ₹218.5. The stock is down 10% so far this year.
The project, located in Doddagubbi, will have a developable area of around 0.74 million square feet and further strengthens the company's pipeline in Bengaluru, its largest market, the company said in an exchange filing on Monday, June 1.
Commenting on the development, Managing Director Ashish Puravankara said the acquisition aligns with the company's strategy of expanding through a "calibrated and capital-efficient approach" in high-demand urban corridors.
Puravankara added that the project supports its broader growth plans as it works towards its FY27 sales guidance of ₹11,200 crore. The company said it remains focused on markets that offer strong infrastructure, employment hubs and long-term demand visibility.
Read more: Puravankara expects ₹2,300 crore development value from new Bengaluru project
Located in North Bengaluru, Doddagubbi provides access to key residential and commercial hubs, including Hennur, Hebbal, Yelahanka, Manyata Tech Park and Kempegowda International Airport. The area has emerged as a major residential micro-market, supported by improving connectivity and social infrastructure.
The latest addition also expands Puravankara's development pipeline in Bengaluru. Mallanna Sasalu, CEO-South at Puravankara, said the company launched projects, including Purva Silversky and Purva Northern Lights, in the city during FY26, alongside new phases of existing developments.
The announcement comes after a record FY26 for Puravankara, with the company reporting its highest-ever annual sales of ₹7,407 crore, a 55% growth year-on-year, and a strengthened development pipeline across key micro-markets in Bengaluru and Mumbai.
Sasalu added that recent land additions have strengthened the company's Bengaluru pipeline to more than ₹13,800 crore in potential GDV.
Puravankara also swung to profit in the March quarter, posting a consolidated net profit of ₹114.2 crore, compared with a loss of ₹85.5 crore in Q4FY25. Its revenue jumped 177.1% year-on-year to ₹1,502 crore from ₹542 crore last year. EBITDA rose to ₹302 crore from ₹30.5 crore a year earlier. EBITDA margin improved to 20.3% from 5.7%.
Shares of Puravankara have given up early gains and are now trading 0.25% lower on Monday at ₹218.5. The stock is down 10% so far this year.
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