Puravankara Leases Retail Space to IKEA at Purva Zentech Park, Bengaluru

Puravankara Limited has signed an Agreement to Lease with IKEA India for retail space at Purva Zentech Park on Kanakapura Road, Bengaluru. As per the exchange filings, the agreement covers 2 floors in the building, which is still under construction. 

Retail Area and Timeline 

IKEA will take more than 1.2 lakh square feet spread across the first and second floors. These levels are marked for retail use within the project. The handover of the space is planned for the first quarter of 2026. The company is expected to begin preparing the interiors after the handover. Colliers acted as the advisor for the transaction. 

Project Details 

Purva Zentech Park has around 9.6 lakh square feet of total leasable and saleable area. 
Each floor plate is roughly 50,000 square feet, and the building includes modular units ranging from 4,500 to 5,000 square feet that can be leased or purchased.  

The project has an IGBC Gold rating and is designed to house a mix of larger and mid-sized occupiers. Construction work is ongoing, with an expected completion timeline of early 2026. 

Connectivity and Surroundings 

The development is located about a five-minute walk from Konankunte Metro Station and Forum Mall. The Kanakapura Road stretch has seen commercial and residential activity in recent years, supported by metro access and nearby social infrastructure. The location places the project within a busy part of South Bengaluru. 

Puravankara’s Commercial Pipeline 

Puravankara’s current commercial development pipeline is around 3.2 million square feet. Close to 2 million square feet is expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity together are estimated to generate a surplus of ₹1,870 crore for the company. 

Puravankara Share Price Performance  

As of 18 November 2025, 10:58 am, Puravankara share price is trading at ₹252.45, a 0.65% decline from the previous closing price. 

Read More: Puravankara Unit Bags ₹211.53 Crore Residential Project from SBR Builders! 

Conclusion 

The lease with IKEA adds a large retail occupant to Purva Zentech Park ahead of the project’s completion. The development continues to move through its construction schedule, with handovers expected from early 2026. 

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