Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Puravankara Ltd has entered into a joint development agreement (JDA) to develop a 6.4-acre residential project in Sarjapur, Bengaluru, with an estimated revenue potential of INR 1,000 crore. The proposed development will offer a saleable area of approximately 0.8 million sq ft, further strengthening the developer's presence in one of Bengaluru's fastest-growing residential corridors. While the company has not disclosed the identity of the landowner or the commercial terms of the agreement, the transaction reflects the growing preference among developers for asset-light land acquisition through JDAs. As of the end of FY2025-26, Puravankara had completed 95 projects spanning 57 million sq ft across nine Indian cities and had ongoing developments covering nearly 36.69 million sq ft.
Puravankara Ltd has signed a joint development agreement (JDA) for a 6.4-acre land parcel in Sarjapur, Bengaluru, where it plans to develop a residential project with an estimated revenue potential of INR 1,000 crore. The company announced the transaction in a regulatory filing during the past week, stating that the proposed project will have a saleable area of around 0.8 million sq ft.
The Bengaluru-based developer did not disclose the identity of the landowner or the financial terms of the joint development agreement. Under such arrangements, developers typically undertake project planning, construction and marketing while landowners receive an agreed share of the revenue, profit or completed inventory instead of an outright payment for the land.
The proposed project will add to Puravankara's growing residential portfolio in Bengaluru, particularly in Sarjapur, which has witnessed sustained housing demand driven by its proximity to major information technology and business hubs. The corridor has attracted significant residential development in recent years due to ongoing infrastructure improvements and expanding employment centres.
Joint development agreements have become an increasingly preferred route for land acquisition among real estate developers, particularly in large metropolitan markets. Compared with outright land purchases, the JDA model requires lower upfront capital investment and enables developers to expand their project pipeline while optimising cash flows. It also allows landowners to participate in the value created through the development of their land without relinquishing the entire economic benefit at the outset.
The latest agreement aligns with the broader industry trend of adopting asset-light growth strategies as developers seek to maintain financial discipline while expanding their development portfolios. Many listed real estate companies have relied on JDAs and joint ventures to secure strategically located land parcels in high-demand micro-markets without significantly increasing balance sheet exposure.
As of March 31, 2026, Puravankara had completed 95 projects covering a total development area of 57 million sq ft across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa. The company currently has ongoing projects spanning 36.69 million sq ft, reflecting a sizeable execution pipeline across residential markets.
The addition of the Sarjapur project is expected to strengthen Puravankara's presence in Bengaluru, which continues to remain one of its core markets. With an estimated revenue potential of INR 1,000 crore and a saleable area of 0.8 million sq ft, the development will contribute to the company's future launch pipeline while reinforcing its strategy of expanding through joint development partnerships in high-growth urban locations.
Source - PTI
Advertisement
Facebook
Whatsapp
