Real estate developer Puravankara Ltd. has formed a joint venture with a landowner to develop a ₹1,100 crore housing project on an 11.23-acre land parcel in North Bengaluru. According to the latest regulatory filing, the company has signed a Joint Development Agreement (JDA) for the land parcel located in Doddagubbi, with the project carrying an estimated gross development value (GDV) of ₹1,100 crore. The company will develop a housing project on this land parcel with a total estimated revenue potential of around ₹1,100 crore, though the company has not disclosed the specific investment amount for the project. The development will have a developable area of 0.74 million square feet and further strengthens the company's pipeline in Bengaluru, its largest market. This strategic acquisition in a rapidly evolving corridor underscores the company's focus on capital-efficient expansion in high-demand urban markets, aligning with its strategy of deepening presence in high-growth urban corridors through asset-light development models such as JDAs.
The project supports Puravankara's broader growth plans as it works towards its FY27 sales guidance of ₹11,200 crore. The company remains focused on markets that offer strong infrastructure, employment hubs and long-term demand visibility. Located in North Bengaluru, Doddagubbi provides access to key residential and commercial hubs, including Hennur, Hebbal, Yelahanka, Manyata Tech Park and Kempegowda International Airport. The area has emerged as one of the city's most sought-after residential destinations with significant long-term growth potential, supported by robust social and civic infrastructure, reputed educational institutions, leading healthcare facilities and strong connectivity via NH-44. As per Puravankara's Managing Director Ashish Puravankara, FY26 was a landmark year with a strengthened development pipeline across Bengaluru and Mumbai, with the company setting ambitious sales targets for the coming year. The joint development in North Bengaluru is aligned with the company's strategy of expanding in high-demand urban corridors through a calibrated and capital-efficient approach, with focus remaining on deepening presence in markets with strong infrastructure, employment access and long-term demand visibility.
The latest joint venture addition expands Puravankara's development pipeline in Bengaluru. Mallanna Sasalu, CEO-South at Puravankara, said the company launched projects, including Purva Silversky and Purva Northern Lights, in the city during FY26, alongside new phases of existing developments. Recent land additions have strengthened the company's Bengaluru pipeline to more than ₹13,800 crore in potential GDV. Bengaluru remains the company's largest market, with recent additions including Purva Silversky and Purva Northern Lights having strengthened the city's pipeline significantly. The company's strategy focuses on expanding through a 'calibrated and capital-efficient approach' in high-demand urban corridors, with the company's focus remaining on deepening presence in markets with strong infrastructure, employment access and long-term demand visibility. The Puravankara Group operates across residential assets under brands surva and Provident, with major operations in Bangalore and presence in Chennai, Kochi, Hyderabad and Pune.
The announcement comes after a record FY26 for Puravankara, with the company reporting its highest-ever annual sales of ₹7,407 crore, a 55% growth year-on-year. This performance was driven by sustained demand for well-located, high-quality residential offerings in key micro-markets. The company also swung to profit in the March quarter, posting a consolidated net profit of ₹114.15 crore in Q4 FY26, compared with a net loss of ₹85.50 crore in the corresponding quarter last year. Revenue from operations jumped 177.3% to ₹1,501.92 crore in Q4 FY26 from ₹541.57 crore in Q4 FY25. EBITDA rose to ₹302 crore from ₹30.5 crore a year earlier, with EBITDA margin improving to 20.3% from 5.7%. The company's latest financial results show continued strong performance, with Puravankara reporting a net profit of ₹56.75 crore for FY26 against a net loss of ₹182.92 crore in the preceding year, while total income increased significantly to ₹3,846.42 crore from ₹2,093.13 crore.
According to Business Standard, shares of Puravankara rose 0.27% to ₹219.50 on the BSE following the announcement. The stock performance reflects investor confidence in the company's strategic expansion and strong financial performance. The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brands surva and Provident, respectively. As of March 31, 2026, Puravankara has completed 95 projects totalling 57 million sq ft across nine cities including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa, with a total land bank of 40 million sq ft and ongoing projects adding up to 36.69 million sq ft.
