Puravankara Launches 12-13 Million Sq Ft of Premium Residential Projects

Bengaluru-based listed real estate developer Puravankara Ltd has announced plans to develop approximately 12–13 million sq ft of residential projects. These new launches will span across Bengaluru, Mumbai, Kochi, and Coimbatore, targeting a wide range of buyers with homes priced from ₹1.4 crore to ₹13 crore for ultra-luxury properties.

The launches will primarily consist of high-rise apartments, gated communities, and smaller townships. Mallanna Sasalu, CEO-South, highlighted that in Bengaluru, the ₹1–2 crore bracket has become the sweet spot for residential demand, effectively positioning it as the premium segment. He noted that the new mid-segment is now in the ₹70 lakh–₹1.2 crore range, driven by high per-capita incomes and continued migration into the city.

Despite not launching any new projects in the first nine months of FY26, Puravankara has already recorded nearly ₹3,859 crore in pre-sales, largely from existing projects during the festive season. Sasalu attributed the lack of new launches to regulatory delays, particularly in Bengaluru, where approval processes were hindered by the formation of the Greater Bengaluru Authority and issues with khata and registration linkages. However, he noted that approvals have improved over the past two quarters, paving the way for a gradual revival in launches.

Puravankara expects to bring a launch pipeline of around ₹13,000 crore to the market during the current fiscal year. Bengaluru will account for the bulk of the development, with around 8 million sq ft, followed by Kochi with 1.4 million sq ft, Coimbatore with 1.25 million sq ft, and Mumbai with about 1 million sq ft, totaling nearly 12–13 million sq ft. These launches will largely be high-rise apartment developments, including gated communities with 800–1,200 units.

The company anticipates average price realizations to rise this year, with most upcoming projects priced above ₹11,000 per sq ft. While the overall average ticket size will start from about ₹1.4 crore, ultra-luxury homes in Bengaluru and Mumbai could reach prices of ₹10–11 crore or higher.

In Mumbai, Puravankara is focusing on marquee developments, primarily 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. One of the two projects initially planned for launch this year is expected to go live by the end of the current calendar year.

Strategically, Puravankara will enhance its luxury positioning under the Puravankara brand, while Provident will focus on large townships and select projects in the outskirts, typically priced around ₹7,500 per sq ft. A new Provident launch is also expected next year, according to Sasalu.