Puravankara's Bengaluru Expansion

Puravankara Limited, the Bengaluru-headquartered listed developer, has laid out an aggressive residential expansion plan that puts its home city at the centre of its growth strategy. The company is planning a very ambitious expansion of the residential segment by unveiling 12-13 million sq ft of residential housing projects in top Indian cities, including Bengaluru, Mumbai, Kochi, and Coimbatore, with senior executives confirming that a significant share of this pipeline will land in Bengaluru across high-rise, gated community and integrated township formats.

Explaining the product strategy, CEO South Mallanna Sasalu said these launches will largely be high-rise apartment developments, including gated communities with 800–1,200 units. He added that most of the new projects will be priced at more than 11,000 per sq ft, reflecting the shift toward larger, amenity-rich developments rather than standalone towers.

The pricing strategy responds to a structural change in Bengaluru's buyer profile. According to Sasalu, the ₹1–2 crore bracket is now the sweet spot for residential demand, which has effectively become the premium segment. He noted that the definition of affordability has also moved up, with the new mid-segment now in the ₹70 lakh–₹1.2 crore range, pointing to rising per-capita incomes and sustained migration into India's technology hubs as key demand drivers.

The expansion is backed by strong recent financial performance. Puravankara reported its highest-ever annual sales of ₹7,407 crore in FY26, a 55% year-over-year increase, and set a sales guidance of ₹11,200 crore for FY27, with the Bengaluru pipeline now representing over ₹13,800 crore of GDV.

To fuel these launches, the company has been rapidly replenishing its Bengaluru land bank through a mix of outright purchases and joint development agreements. Recent additions include a 6.4 million sq ft saleable land parcel at Attibele Hobli with a potential GDV of over Rs 4,800 crore, a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru with a developable area of 3.48 million sq ft and a potential GDV of over Rs 3,300 crore (which will house Purva Esplanade), and a 5.5-acre joint development in Balegere, East Bengaluru, offering a developable area of 0.85 million sq ft and a potential GDV of over Rs 1,000 crore. This was followed in Q1 FY27 by fresh land deals at Doddagubbi, North Bengaluru, with a potential GDV of over ₹1,100 crore and saleable area of 0.74 msft, Sanna Ammanikere in the fast-developing airport corridor, with a GDV potential of approximately ₹800 crore and a saleable area of 0.89 msft, and Mandur, Bengaluru, with a GDV of ₹2,300 crore, offering 1.8 msft of development potential.

The scale of these plans builds on an already large operating base. As of March 2026, Puravankara has completed 95 projects totalling 57 million sq ft across nine cities—Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa—while its ongoing projects add up to 36.69 million sq ft. For homebuyers, the new Bengaluru pipeline signals more choice across formats: high-rise towers along established IT corridors, mid-sized gated communities of 800-1,200 units, and larger township-style developments in emerging micro-markets on the city's periphery.

Management remains confident of sustaining this momentum into the new fiscal year. Commenting on the Q1 FY27 business update, the company said it remains firmly on track to achieve its FY 2026-27 sales guidance of ₹11,200 crore across the Southern and Western regions, aided by a stable macro backdrop where the RBI held the repo rate steady at 5.25% while steady office leasing demand from IT, BFSI, and GCC occupiers continues to support healthy residential absorption in the premium segment. For prospective buyers, this means a steady stream of new launches is expected across Bengaluru through FY27, with pricing trending upward as the developer repositions toward the premium and upper-mid segments.