Puravankara Limited, one of India’s leading real estate developers, has announced a significant new residential development project in Bengaluru’s Hennur Road corridor. The company revealed that it has entered into a joint development agreement for a 4-acre land parcel, with an estimated Gross Development Value (GDV) exceeding ₹1,300 crore.

The development was announced through a press release submitted to the stock exchanges under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The announcement reflects the company’s strategic focus on expanding its presence in high-growth micro-markets within Bengaluru, one of India’s most active real estate hubs.

The project marks another step in Puravankara’s long-term strategy of expanding through capital-efficient partnerships while strengthening its residential portfolio in key urban locations.

Strategic Expansion in North Bengaluru

Bengaluru continues to be one of India’s most dynamic real estate markets, driven by strong demand from technology professionals, multinational corporations, and urban homebuyers.

Puravankara’s new development on Hennur Road aligns with the company’s vision of focusing on areas that offer:

• Strong employment opportunities

• Infrastructure growth

• Excellent connectivity

• High residential demand

According to the company, the project will have a saleable area of approximately 0.84 million square feet, making it a significant residential development in the region.

The project will cater to the growing housing demand in North Bengaluru, which has emerged as one of the fastest-growing real estate corridors in the city.

Why Hennur Road Is a High-Growth Residential Corridor

Over the past few years, Hennur Road has become one of the most attractive residential micro-markets in Bengaluru. Several factors have contributed to its rapid growth.

One of the most important factors is its proximity to Kempegowda International Airport, which has become a major driver of economic activity in North Bengaluru.

In addition, the region offers strong connectivity to major employment hubs such as:

• Manyata Tech Park

• Kirloskar Business Park

• Bagmane Tech Park

• Outer Ring Road technology corridor

These employment centres attract thousands of professionals working in IT, fintech, consulting, and global capability centres.

As a result, the demand for modern residential developments in this region continues to grow steadily.

Another factor supporting Hennur Road’s growth is the presence of well-developed social infrastructure, including:

• International schools

• Hospitals

• Shopping centres

• Restaurants and entertainment hubs

This combination of workplace access and lifestyle infrastructure has made the area highly attractive for both homebuyers and investors.

Management’s Perspective on the Development

Commenting on the project, Ashish Puravankara, Managing Director of Puravankara Limited, highlighted the importance of Bengaluru in the company’s growth strategy.

According to him, Bengaluru remains one of India’s most resilient and fastest-growing residential markets. The city’s growth continues to be supported by:

• Strong employment generation

• Continuous infrastructure investments

• Sustained housing demand

Ashish Puravankara also noted that North Bengaluru has emerged as a key growth corridor, particularly because of its proximity to the international airport and the rapid expansion of technology parks.

He emphasised that Hennur Road has seen steady traction from homebuyers due to its strong connectivity to employment hubs and its developed social infrastructure.

The company believes that the project will allow it to deliver thoughtfully designed homes suited to the evolving lifestyle preferences of modern urban residents.

Asset-Light Partnership Strategy

The Hennur Road project reflects Puravankara’s asset-light growth strategy, which focuses on developing projects through partnerships rather than purchasing large land parcels outright.

This strategy offers several advantages:

• Reduced upfront capital investment

• Lower financial risk

• Faster project development

• Improved return on capital

Through joint development agreements, the company can expand its project pipeline while maintaining financial discipline.

This approach has become increasingly popular among large real estate developers in India, particularly in markets such as Bengaluru, Mumbai, and Hyderabad.

Project Launch Timeline

According to Mallanna Sasalu, CEO – South at Puravankara Limited, the company expects to bring the Hennur Road project to the market within the next 6 to 12 months.

He noted that the project reflects the company’s continued focus on expanding across high-demand residential corridors in Bengaluru.

The company is confident that the project will attract strong buyer interest, especially given the sustained demand in the North Bengaluru micro-market.

The development will also strengthen Puravankara’s overall residential portfolio in the city, which remains one of its most important markets.

Puravankara Strengthening Bengaluru Development Pipeline

The Hennur Road project is part of a broader expansion strategy in Bengaluru. Earlier this year, the company announced several other strategic developments that significantly strengthen its project pipeline.

Anekal Taluka Development

Puravankara acquired a 53.5-acre land parcel in Anekal Taluka, which has:

• Development potential of 6.4 million square feet

• Estimated Gross Development Value of over ₹4,800 crore

This large project is expected to become one of the company’s major residential developments in the region.

KIADB Hardware Park Project

The company is also developing a 24.59-acre land parcel at KIADB Hardware Park in North Bengaluru.

This project is being developed in partnership with KVN Property Holdings LLP and will feature:

• Development potential of 3.48 million square feet

• Estimated GDV of over ₹3,300 crore

Balagere Joint Development

In addition, Puravankara has undertaken a 5.5-acre joint development project in Balagere, East Bengaluru.

This development will include:

• 0.85 million square feet of developable area

• Estimated GDV exceeding ₹1,000 crore

These projects collectively demonstrate the company’s aggressive expansion strategy in Bengaluru’s high-growth residential markets.

About Puravankara Group

Puravankara Group is one of India’s most respected real estate developers with a strong presence across multiple cities.

Headquartered in Bengaluru, the company has been active in the real estate sector for over five decades.

During this time, it has developed a reputation for quality construction, timely delivery, and innovative residential designs.

The group operates through several key residential brands:

Puravankara

This is the company’s premium residential brand, focusing on luxury and high-end housing projects.

Provident Housing Limited

Provident Housing Limited (PHL) caters to the mid-income and affordable housing segment, offering well-designed homes at accessible price points.

Purva Land

This brand focuses on plotted development projects, allowing buyers to purchase land parcels for residential construction.

Construction and Technology Capabilities

Puravankara also has a wholly-owned subsidiary called Starworth Infrastructure and Construction Limited (SICL).

SICL focuses on technology-enabled construction solutions, enabling the company to improve:

• Construction speed

• Quality control

• Project efficiency

In addition to residential developments, the group has also entered the commercial real estate segment, with a presence of approximately 3 million square feet of Grade-A office space.

Interior Design and Customer Services

The company has also launched Purva Streaks, an interior design division that provides integrated home interior solutions for customers.

This service allows homebuyers to receive ready-to-move-in interiors, enhancing the overall customer experience.

Company’s Project Track Record

As of December 31, 2025, Puravankara has completed more than 93 real estate projects across India.

These projects collectively cover around 56 million square feet of development.

The company operates in nine major Indian cities, including:

• Bengaluru

• Chennai

• Hyderabad

• Coimbatore

• Mangaluru

• Kochi

• Mumbai

• Pune

• Goa

This broad geographic presence allows the company to diversify its development portfolio and reduce market concentration risks.

Land Bank and Ongoing Projects

Puravankara currently has a land bank of approximately 38 million square feet, providing a strong foundation for future projects.

In addition, the company has ongoing projects covering around 34 million square feet, indicating a substantial development pipeline for the coming years.

This extensive pipeline ensures that the company can continue launching new residential projects while maintaining steady revenue growth.

Outlook for Bengaluru Real Estate Market

Bengaluru remains one of the most attractive real estate markets in India, supported by strong economic fundamentals.

Several factors are expected to continue driving housing demand in the city:

• Growth of the IT and technology sector

• Expansion of global capability centres

• Increasing startup ecosystem activity

• Continuous infrastructure development

Key infrastructure projects such as:

• Namma Metro expansion

• Peripheral Ring Road

• Airport connectivity projects

are expected to further enhance the attractiveness of residential areas such as Hennur Road and North Bengaluru.

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