The shares of a real estate company, engaged in the development and sale of residential projects across major Indian cities, rose by 2% after it announced a joint development deal worth over Rs 1,000 crore.
With a market capitalization of Rs 6,967 Crores, the share price of Puravankara Ltd was trading almost 2% up to hit an intraday high of Rs 302.00 per share from its previous closing price of Rs 295.95 per share.
What’s the News
Puravankara Limited, in an exchange filing, announced the joint development of a 5.5-acre land parcel in Balagere, East Bengaluru, with an estimated Gross Development Value (GDV) of over Rs 1,000 crore. The project offers a total saleable area of 0.83 million sq. ft. and is expected to be launched within the next 6 to 9 months.
This strategic move aligns with the company’s vision to expand its footprint across high-demand Bengaluru micro-markets, driven by robust infrastructure, strong connectivity, and proximity to major IT hubs.
Management Commentary
Ashish Puravankara, Managing Director, 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 that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengaluru’s emerging corridors.”
About the Company
Puravankara Limited is a Bengaluru-based real estate developer with a presence in nine cities, including Mumbai, Pune, Chennai, and Hyderabad. With nearly 50 years of experience, it operates through Purva, Provident Housing, and Purva Land, and has completed 90+ projects covering ~52.7 million sq. ft.
The company has 24,000+ homes under development, a land bank of ~25 million sq. ft., and a 3 million sq. ft. commercial portfolio. It also offers in-house EPC services and interior design solutions.
Puravankara is expanding in Mumbai’s redevelopment space with projects in Chembur, Breach Candy, Pali Hill, and Lokhandwala. It recently acquired land on Kanakapura Road (Rs 700+ cr GDV) and announced a JV in North Bengaluru (Rs 3,300 cr GDV)
The company reported a revenue of Rs 2,014 crore in FY25, down by 7.8 percent from its FY24 revenue of Rs 2,185 crore. Coming to its profitability, the company reported a net loss of Rs 183 Crores in FY25 from a Rs 42 crores net profit in FY24.
Written By Rohan Pandey
