Puravankara Secures Joint Development Agreement for Major Bengaluru Project
Puravankara inks joint development pact for 11.23-acre Bengaluru land parcel
Image: The Economic Times
Puravankara Ltd has signed a Joint Development Agreement for an 11.23-acre site in Doddagubbi, North Bengaluru, with a gross development value of ₹1,100 crore. This project aims to develop approximately 0.74 million sq ft of residential space, enhancing the company's growth strategy in its largest market.
- 01The Joint Development Agreement covers an 11.23-acre land parcel in Doddagubbi, North Bengaluru.
- 02The estimated gross development value of the project is ₹1,100 crore (approximately $132 million USD).
- 03Puravankara aims to develop around 0.74 million sq ft of residential space on this site.
- 04The company's sales for FY26 reached ₹7,407 crore, marking a 55% year-on-year increase.
- 05Bengaluru remains Puravankara's largest market, with a development pipeline valued at over ₹13,800 crore.
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Puravankara Ltd has entered into a Joint Development Agreement (JDA) for an 11.23-acre land parcel located in the Doddagubbi area of North Bengaluru. The project is projected to have a gross development value (GDV) of ₹1,100 crore (approximately $132 million USD) and will encompass around 0.74 million square feet of residential space. This initiative is part of the company's broader strategy to expand its footprint in high-demand urban corridors, particularly in Bengaluru, which is its largest market. Ashish Puravankara, the Managing Director, highlighted the company's record sales of ₹7,407 crore in FY26, reflecting a 55% increase from the previous year. He emphasized the importance of the Doddagubbi micro-market, which offers excellent connectivity to key areas such as Hennur and Kempegowda International Airport, supported by robust infrastructure and amenities. The agreement follows a series of strategic land acquisitions by Puravankara in response to sustained residential demand in Bengaluru, further solidifying its growth trajectory in the region.
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The development is expected to enhance residential options in North Bengaluru, contributing to local economic growth and infrastructure improvement.
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