Puravankara Limited has informed the Exchange about the Material Information that the Company has entered into Joint Development Agreement for a land parcel of 5.5-acre in East Bengaluru, with a combined estimated gross development value (GDV) of over Rs. 1,000 Crores.
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Puravankara Limited has signed a Joint Development Agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, with a combined estimated gross development value (GDV) of over Rs. 1,000 crores. The project will offer about 0.83 million square feet of saleable area and is expected to be launched within the next 6 to 9 months as an ultra-luxury residential offering. The company says the location benefits from proximity to major IT hubs and strong demand in East Bengaluru. The deal follows two earlier Bengaluru moves this year: a 3.63-acre acquisition on Kanakapura Road (GDV Rs. 700+ crores) and a JV with KVN Property Holdings for a 24.59-acre parcel in North Bengaluru (GDV Rs. 3,300 crores).
Positive for shareholders: this expands Puravankara's Bengaluru pipeline in a high-demand micro-market using a capital-light JDA model, which limits cash outlay and supports future revenue and earnings visibility without straining the balance sheet.