Puravankara to Launch 12–13 Million Sq Ft of Housing Projects; Homes from ₹1.4 Crore

Bengaluru-based listed real estate developer Puravankara Ltd 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, CEO-South, Mallanna Sasalu, 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 said. He added 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.

The developer has already clocked nearly ₹3,859 crore in pre-sales in the first nine months of FY26, largely from existing projects during the festive season, despite not launching any new projects so far. “All the sales have come from our ongoing projects. We had no launches this year due to regulatory delays, especially in Bengaluru,” Sasalu said, adding that approvals have started improving over the past two quarters.

Project launches were delayed due to multiple regulatory transitions in Bengaluru, including khata and registration bottlenecks, and the formation of the Greater Bengaluru Authority following the scrapping of the former municipal corporation, Bruhat Bengaluru Mahanagara Palike. While khata and registration linkages remain an issue, the overall approvals process has improved, enabling a gradual revival in launches, he noted.

Puravankara expects to bring a launch pipeline of around ₹13,000 crore to market during the current fiscal, with approvals currently underway. Bengaluru will account for the bulk of development at 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, taking the total to nearly 12–13 million sq ft. “These launches will largely be high-rise apartment developments, including gated communities with 800–1,200 units,” Sasalu said.

The company expects average price realisations to rise this year, as most upcoming projects are 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 go up to ₹10–11 crore or higher.

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. Of the two projects initially planned for launch this year, one is expected to go live by the current calendar year.

Strategically, Puravankara will sharpen 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, Sasalu added.