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VMPL
Bengaluru (Karnataka) [India], June 29: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has entered into a joint development agreement (JDA) for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated Gross Development Value (GDV) of Rs 1,000 crore. The project has a saleable area of approximately 0.8 msft and will be developed as a residential community catering to the growing demand in this emerging corridor. This latest addition further strengthens Puravankara's development pipeline in the city, bringing the company's total potential GDV from acquisitions and JDAs in Q1FY27 to Rs 5,200 crore. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, "Bengaluru continues to be one of our most important growth markets, and this joint development reinforces our commitment to deepening our presence across high-potential urban corridors. As we pursue our FY27 growth agenda, our focus remains on securing quality land parcels in markets backed by infrastructure, employment density, and sustained homebuyer demand, while creating long-term value for our stakeholders." Strategically located in Kaggalipura Village, Sarjapura Hobli, the site is well-positioned for growth, with excellent connectivity via Sarjapur Road and the Outer Ring Road. It also enjoys good connectivity to the Electronic City technology corridor and other key employment hubs. The corridor has emerged as a preferred destination for IT professionals and homebuyers seeking quality housing, supported by the limited availability of organised residential projects from reputed developers. Mallanna Sasalu, CEO, Puravankara Limited, added, "The mix of outright acquisitions and joint development agreements across key Bengaluru micro-markets reflects our calibrated growth strategy, combining scale creation with capital efficiency. The pace, scale, and quality of these additions indicate that the company is moving in the right direction and steadily strengthening its development pipeline in Bengaluru. Notably, in Q1FY27 alone, Puravankara announced four land transactions in quick succession, underlining the company's strong business development momentum and the ability to consistently add high-potential projects to its portfolio. Together, these deals span approximately 41.93 acres, with a cumulative development potential of around 4.23 msft and a total estimated GDV of Rs 5,200 crore." Sarjapur represents a micro-market where strong end-user demand, improving connectivity, and limited branded supply create a compelling opportunity for value creation. Through such partnerships, Puravankara is able to optimise capital deployment, expand across multiple high-growth corridors, and strengthen the overall quality and depth of its project pipeline. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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