Puravankara Limited announced today that it has entered into 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 ₹1,000 crore.
The project, offering a saleable area of approximately 0.83 million sq ft, is strategically located near major IT hubs and well-developed social and physical infrastructure, which have driven steady residential demand in the micro-market. The company expects to launch the project within the next 6–9 months.
Comments from leadership
Ashish Puravankara, Managing Director of Puravankara Limited, said:
“This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city’s most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle.”
Mallanna Sasalu, CEO – South, Puravankara Limited, added:
“Balagere has emerged as a high-potential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This JDA reflects our capital-efficient approach to growth, and we are confident it will be a strong addition to our expanding portfolio.”
Earlier this year, Puravankara had acquired a 3.63-acre land parcel on Kanakapura Road with a GDV of ₹700+ crore and announced a 24.59-acre joint venture in North Bengaluru with a potential GDV of ₹3,300 crore.
About Puravankara
With over 50 years of presence in the Indian real estate market, Puravankara operates across nine cities and has delivered 90+ projects covering ~53 million sq ft. The group caters to diverse housing needs through its brands Purva, Provident Housing, and Purva Land, and also has a growing commercial real estate and interiors business.
