Puravankara Limited has signed a joint development agreement for a 4-acre land parcel on Hennur Road in North Bengaluru, with an estimated gross development value (GDV) of over ₹1,300 crore. The proposed residential project is expected to have a saleable area of around 0.84 million sq ft and is likely to be launched within the next six to twelve months.

“The acquisition aligns with the company’s strategic vision to expand its footprint in key Bengaluru micro-markets that offer robust infrastructure, strong connectivity, and sustained residential demand,” the company said, according to a report by The Hindustan Times.

The project is expected to be launched within the next six to twelve months, it said.

Ashish Puravankara said Bengaluru continues to remain one of India’s most resilient residential markets, supported by employment growth and infrastructure investments.

“Within the city, North Bengaluru has emerged as a key growth corridor, driven by its proximity to Kempegowda International Airport, expanding tech parks, and improving connectivity. Hennur Road, in particular, has seen steady traction from homebuyers due to its access to employment hubs and well-developed social infrastructure,” he said.

The project reflects the company’s continued focus on expanding its presence across high-demand residential corridors in Bengaluru through capital-efficient partnerships, said Mallanna Sasalu, CEO – South, Puravankara Limited.

Earlier, Puravankara Limited had signed a deal for a 53.5-acre land parcel in Anekal Taluka, which has a development potential of about 6.4 million sq ft and an estimated GDV of over ₹4,800 crore. The company had also agreed to develop a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru in partnership with KVN Property Holdings LLP, with a projected GDV of more than ₹3,300 crore.

Currently, the company plans to develop around 12–13 million sq ft of residential projects, with new launches across Bengaluru, Mumbai, Kochi and Coimbatore. Ticket sizes are expected to start at about ₹1.4–1.5 crore and go up to ₹11–13 crore for ultra-luxury homes, Sasalu earlier told Hindustan Times Real Estate.

The launches will largely comprise high-rise apartments, gated communities and smaller townships. “In Bengaluru, the ₹1–2 crore bracket is now the sweet spot for residential demand, which has effectively become the premium segment,” Sasalu had said.

In Mumbai, Puravankara is focusing on marquee developments, largely through redevelopment projects. The company has a redevelopment pipeline of about 4.38 million sq ft across five projects, with a potential value of over ₹10,500 crore.