Puravankara Limited has strengthened its growth pipeline with a fresh round of land acquisitions across Mumbai and Bengaluru, adding significant value to its future development book in the first half of FY26. In its business update for the period, the Bengaluru-headquartered developer disclosed that it added over 6.36 million square feet of potential developable area with an estimated Gross Development Value (GDV) of approximately Rs 9,100 crores.
Commenting on the update, Ashish Puravankara, Managing Director, Puravankara Limited, said the company made significant progress in expanding its portfolio through disciplined execution in high-demand micro-markets, noting that during the first half of FY26, we made significant progress in expanding our portfolio, adding over 6.36 million square feet of potential developable area with an estimated GDV of approximately Rs 9,100 crores. He added that the company's focus remains on disciplined execution and value creation through strategic expansion in high-demand micro-markets.
The H1 FY26 additions were led by a set of marquee deals in both key metros. These include marquee acquisitions across Mumbai and Bengaluru, such as Malabar Hill and Chembur redevelopment projects, and large-scale partnerships in North and East Bengaluru. In North Bengaluru, the company partnered with KVN Property Holdings LLP for a 24.59-acre land parcel with 3.48 msft developable area and potential GDV of over Rs 3,300 crores at the KIADB Hardware Park. In Chembur, Mumbai, Puravankara was selected as the preferred developer for the redevelopment of eight residential societies, unlocking over 1.2 msft of development potential across ~4 acres, with an estimated GDV of Rs 2,100 crores.
The portfolio expansion also covered East Bengaluru and South Mumbai. At Balegere, Puravankara entered into a joint development for a 5.5-acre land parcel with a combined potential GDV of over Rs 1,000 crores, while at Malabar Hill in Mumbai, its wholly-owned subsidiary secured a prestigious redevelopment project with a GDV potential of Rs 2,700 crores, offering 0.7 million square feet of premium development on 1.43 acres.
Alongside the land additions, Puravankara also posted steady sales momentum for the quarter and half-year. The company reported pre-sales of Rs 1,322 crores in Q2FY26, marking a 4% year-on-year growth, with average price realisation improving 7% year-on-year and customer collections for the quarter growing 8% year-on-year to Rs 1,047 crores. For the half-year, H1 FY26 pre-sales stood at Rs 2,445 crores versus Rs 2,349 crores in H1 FY25, up 4% Y-o-Y, on sales volume of 1.50 msft in Q2 FY26 and 2.75 msft in H1 FY26, with average realisation improving to Rs 8,814/sft in Q2 FY26 and Rs 8,891/sft in H1 FY26. Customer collections from the real estate business also improved, standing at Rs 1,904 crores in H1 FY26, up by 1% y-o-y.
Ashish Puravankara framed the quarter's sales performance as a continuation of sustained demand for the brand. He said, "In Q2 FY26, we sustained the growth momentum, driven entirely by sustenance sales, achieving pre-sales of Rs 1,322 crores and collections of Rs 1,047 crores, both improving year-on-year. This performance underscores the continued trust of our customers and the strength of our brand across markets."
The H1 FY26 additions set the stage for an even larger expansion later in the year. By Q3 FY26, Puravankara had gone on to acquire a 53.5-acre parcel in Anekal Taluka, Bengaluru, pushing its cumulative 9M FY26 acquisitions to over 12.76 msft of potential developable area with an estimated GDV of approximately Rs 13,900 crores. This was followed by full-year FY26 results showing record sales, with the company reporting quarterly sales surging 190% year-on-year to Rs 3,547 crore and full-year FY26 sales rising 55% to Rs 7,407 crore in Q4, alongside plans to launch 30 projects over the next 24 months, largely in South India and Mumbai, covering 51.14 million square feet and over Rs 55,000 crore in potential value.
For homebuyers, this scale of land banking signals a wave of new supply coming to market in Mumbai's redevelopment corridors and Bengaluru's North and East micro-markets over the next few years. Projects at Malabar Hill, Chembur, KIADB Hardware Park, and Balagere are expected to be among the early launches from this newly acquired land bank, giving buyers more choice across price points and locations from a developer with an established delivery track record.
