The acquisition aligns with the company’s strategic vision to expand its footprint in key Bengaluru micro-markets that feature robust infrastructure, excellent connectivity, and sustained residential demand.
The land parcel offers a total saleable area of approximately 0.83 million square feet. Located in Balagere, East Bengaluru, the site benefits from strong and consistent market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to launch within the next six to nine months.
Ashish Puravankara, managing director, Puravankara, said, “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.”
Mallanna Sasalu, CEO – South, Puravankara, added, “Balagere has emerged as a highpotential 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 support for 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.”
Puravankara, headquartered in Bengaluru, is one of India’s most admired and trusted real estate developers. The company has established three distinct and successful residential brands – Purva, Provident Housing (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs.
The company reported consolidated net loss of Rs 75.89 crore in Q4 FY25 as against net profit of Rs 6.50 crore posted in Q4 FY24. Net sales tanked 63.9% year on year to Rs 155.21 crore in Q4 FY25.