Puravankara Secures Joint Development Agreement for ₹1,000 Crore East Bengaluru Project

Puravankara Limited, one of India’s most reputed real estate developers, has announced a new milestone in its growth journey by entering into a Joint Development Agreement (JDA) for a significant land parcel in East Bengaluru. This move aligns with its continued focus on capital-efficient expansion and premium residential development in India’s top-performing micro-markets.

New JDA Unlocks High-Value Opportunity in Bengaluru

The company has finalised a JDA for a 5.5-acre land parcel located in Balagere, East Bengaluru, with an estimated GDV of over ₹1,000 crore. The site will offer a total saleable area of 0.83 million square feet. With its strategic location near key IT hubs and well-established social and physical infrastructure, the area continues to see steady market traction. The project is scheduled for launch within the next six to nine months.

Ashish Puravankara, Managing Director of Puravankara Limited, stated, “This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city’s most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru’s emerging corridors.”

Strategic Vision Backed by Past Expansions

Mallanna Sasalu, CEO-South, Puravankara Limited, added, “Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and supports faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio.”

This initiative follows earlier strategic moves by the company, including the acquisition of a 3.63-acre parcel on Kanakapura Road with an estimated GDV of ₹700+ crore, and a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru with a potential GDV of ₹3,300 crore.

Read More: Puravankara Bags ₹2,100 Crore Redevelopment Projects in Mumbai!

Puravankara Share Price Performance 

As of July 10, 2025, at 12:42 PM, Puravankara share price is trading at ₹291.75 per share, reflecting a decline of 1.50%.

Conclusion

The latest JDA in East Bengaluru marks another key step in Puravankara's long-term vision of creating sustainable, high-value residential communities. With strong market fundamentals in place and a robust development pipeline, the company remains well-positioned to capture growth opportunities in India's real estate sector.

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