Puravankara Ltd Shares Soar on ₹1,000 Cr Bengaluru Residential Project
Puravankara Limited's shares witnessed a 2% surge following the announcement of a joint development deal worth over ₹1,000 crore in Bengaluru. The project, set to launch within 6 to 9 months, is expected to offer a total saleable area of 0.83 million sq. ft.
Real EstatePuravankara LtdBengaluruResidential ProjectsMarket GrowthReal EstateJul 10, 2025
With a market capitalization of ₹6,967 crore, Puravankara Ltd's share price hit an intraday high of ₹302.00 per share, up from its previous closing price of ₹295.95. The company's shares have been on a positive trajectory, reflecting the market's optimism about its new project and broader growth strategy.
Puravankara Limited, in an exchange filing, detailed the joint development of a 5.5-acre land parcel in Balagere, East Bengaluru. The project is estimated to have a Gross Development Value (GDV) of over ₹1,000 crore and will offer a total saleable area of 0.83 million sq. ft. The project is expected to be launched within the next 6 to 9 months, capitalizing on Bengaluru's robust infrastructure and strong connectivity.
Ashish Puravankara, Managing Director of Puravankara Limited, commented, “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.”
Puravankara Limited is a Bengaluru-based real estate developer with a presence in nine major cities, including Mumbai, Pune, Chennai, and Hyderabad. With nearly 50 years of experience, the company operates through Purva, Provident Housing, and Purva Land. It has completed over 90 projects, covering approximately 52.7 million sq. ft. of built-up area. The company currently has 24,000+ homes under development, a land bank of around 25 million sq. ft., and a 3 million sq. ft. commercial portfolio.
In addition to its residential and commercial projects, Puravankara also offers in-house EPC (Engineering, Procurement, and Construction) services and interior design solutions. The company is expanding its footprint in Mumbai’s redevelopment space with projects in Chembur, Breach Candy, Pali Hill, and Lokhandwala. It recently acquired land on Kanakapura Road, with a GDV of over ₹700 crore, and announced a joint venture in North Bengaluru with a GDV of ₹3,300 crore.
Despite the challenging market conditions, Puravankara Limited reported a revenue of ₹2,014 crore in FY25, a 7.8% decrease from its FY24 revenue of ₹2,185 crore. However, the company faced a net loss of ₹183 crore in FY25, compared to a net profit of ₹42 crore in FY24. Despite this, the company remains committed to its growth strategy and is confident in its ability to deliver high-quality projects that meet the evolving needs of its customers.
Frequently Asked Questions
What is the value of the joint development project announced by Puravankara Limited?
The joint development project announced by Puravankara Limited is worth over ₹1,000 crore.
Where is the 5.5-acre land parcel located for the new project?
The 5.5-acre land parcel for the new project is located in Balagere, East Bengaluru.
What is the estimated Gross Development Value (GDV) of the new project?
The estimated Gross Development Value (GDV) of the new project is over ₹1,000 crore.
When is the new project expected to be launched?
The new project is expected to be launched within the next 6 to 9 months.
What is Puravankara Limited's market capitalization?
Puravankara Limited's market capitalization is ₹6,967 crore.
Related News Articles
Massive Income Tax Raids Uncover ₹116 Crore Unaccounted Assets in Nashik
Income Tax department conducts massive raids on Nashik-based jewellers
Metro City Office Spaces: Rent Rise Amidst Growing Demand
Office spaces in metro cities are witnessing a significant rent hike, with a 5.1% increase in Q4 of FY24, driven by demand and supply parity.
FPJ Dialogue: Former Maharashtra Minister Arif Naseem Khan on Waqf Board Challenges and Proposed Amendments
Mumbai: Waqf boards, India's third-largest owners of real estate, face immense challenges. Beset with litigations, demolitions, and public bias, they struggle to maintain control of their vast properties amid mounting legal battles.
NIELIT and Maharashtra State Board of Technical Education Sign MoU for Enhanced Collaboration
The National Institute of Electronics & Information Technology (NIELIT) and the Maharashtra State Board of Technical Education (MSBTE) have signed a Memorandum of Understanding (MoU) to foster collaboration and enhance the quality of technical education a
Misty Mornings and Warm Afternoons: Mumbai Weather Update
Mumbai's weather forecast predicts foggy mornings and clear afternoons, with temperatures ranging from 23°C to 35°C over the next few days. Stay prepared and take necessary precautions.
Office Space Leasing Expected to Hit 85 Million Sq Ft in 2024, a 14% Increase: Cushman & Wakefield
According to a recent report by Cushman & Wakefield, the gross leasing of office space in India is set to rise by 14% to a record 85 million square feet in 2024. This growth is attributed to the strong economic fundamentals and the increasing demand from