Puravankara Limited has informed the Exchange regarding a press release dated July 10, 2025, titled "Puravankara Announces JDA for 5.5-acre land parcel in East Bengaluru with potential GDV of over Rs 1,000 crores".
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Puravankara has signed a Joint Development Agreement (JDA) for a 5.5-acre land parcel in Balagere, East Bengaluru, with an estimated gross development value (GDV) of over Rs 1,000 crores. The project will offer around 0.83 million sq ft of saleable area and is expected to be launched within 6-9 months. The company says the location benefits from proximity to IT hubs and strong residential demand, making it suitable for an ultra-luxury offering. This follows two earlier Bengaluru deals 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 North Bengaluru parcel (GDV Rs 3,300 crores).
Strengthens Puravankara's Bengaluru pipeline and supports its capital-efficient growth strategy, with no upfront land cost under the JDA model. Positive for future revenue visibility, though near-term stock impact is likely limited as the project is still 6-9 months from launch.