Puravankara Limited has informed the Exchange about General Updates
PURVA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Puravankara Group has entered into a joint venture to develop a 24.59-acre land parcel in North Bengaluru, with an estimated Gross Development Value (GDV) exceeding ₹3,300 crores. The project will offer approximately 3.48 million sq. ft. of saleable area and is expected to launch within six months, benefiting from proximity to Kempegowda International Airport and upcoming infrastructure. Separately, Mr. Mallanna Sasalu, a real estate veteran with 32+ years of experience (formerly instrumental in scaling Provident Housing Ltd.), has been appointed as CEO-South effective May 9, 2025, subject to NRC and Board approval. In a key leadership change, Mr. Abhishek Kapoor, Executive Director and Group CEO, has resigned effective the close of business hours on May 9, 2025, citing personal reasons after about 5 years with the company.
The ₹3,300+ crore joint venture significantly expands Puravankara's pipeline in a high-growth micro-market, which should support future revenue and booking momentum. However, the sudden exit of the Group CEO may create short-term uncertainty around strategy and execution, even as the new CEO-South appointment strengthens regional leadership.