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Puravankara Limited has entered into a joint development agreement for a 7.83-acre land parcel in South-East Bengaluru, carrying an estimated Gross Development Value of INR 1,100 crore. The project will have a saleable area of approximately 0.89 million square feet and will be developed as a residential community. This marks the company's fifth land transaction in Bengaluru for FY27. Managing Director Ashish Puravankara said the deal reflects the company's disciplined, capital-light approach to expanding its development pipeline in markets with consistent end-user demand.
Puravankara Limited has entered into a joint development agreement (JDA) for a 7.83-acre land parcel in South-East Bengaluru, with an estimated Gross Development Value (GDV) of INR 1,100 crore, the company said.
The project will have a saleable area of approximately 0.89 million square feet and is planned to be developed as a residential community, adding to the developer's existing footprint in the established South Bengaluru corridor.
The transaction marks Puravankara's fifth land deal in Bengaluru for FY27, a pace the company said reflects its calibrated approach to expanding its development pipeline in the city over the course of the financial year.
Commenting on the deal, Ashish Puravankara, Managing Director of Puravankara Limited, said Bengaluru continued to anchor the company's growth story, with South-East Bengaluru's employment-led corridors giving the company confidence to deploy capital in the region. He said the joint development agreement was consistent with the approach the company had taken to every addition to its pipeline through the year, characterised by disciplined structuring, a capital-light model, and a focus on markets with steady end-user demand. He added that this kind of steady business development underpinned the company's growth ambitions for FY27, and that Puravankara would continue to pursue similar opportunities as they arose.
The joint development model, under which Puravankara has structured this and its other recent Bengaluru transactions, allows the company to develop projects on land owned by third parties in exchange for a share of the developed area or revenue, rather than committing capital to outright land acquisition. This approach has increasingly been favoured by listed developers in India seeking to expand their project pipelines while limiting balance-sheet exposure to land costs.
South-East Bengaluru has remained one of the city's more established residential corridors, benefiting from proximity to major employment hubs and sustained end-user housing demand, factors that have continued to draw developer interest to the micro-market even as land availability within the city has grown more constrained.
The company did not disclose the identity of the landowner or development partner involved in the transaction, nor did it provide a timeline for project launch, construction commencement, or expected completion following the signing of the joint development agreement.
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