Puravankara Limited has signed a joint development agreement (JDA) for a 4-acre land parcel on Hennur Road in Bengaluru, adding a project with an estimated gross development value (GDV) of over ₹1,300 crore to its pipeline. The land parcel offers a total saleable area of approximately 0.84 million square feet and was announced on March 9, 2026, as the company continues its capital-efficient expansion in the city.
Explaining the move, Managing Director Ashish Puravankara said the joint development aligns with the company's strategy of expanding through asset-light partnerships in high-potential micro-markets while delivering thoughtfully designed homes that cater to evolving urban lifestyles. He added that Bengaluru continues to be one of India's most resilient and fastest-growing residential markets, supported by strong employment growth, infrastructure investments, and sustained housing demand.
North Bengaluru has emerged as a key growth corridor, driven by its proximity to Kempegowda International Airport, expanding tech parks, and improving connectivity. Hennur Road in particular has become one of the region's most closely watched micro-markets, largely on account of its access to Manyata Tech Park and the Outer Ring Road IT belt, along with steadily improving social infrastructure.
Mallanna Sasalu, CEO – South, Puravankara Limited, said the project reflects the company's continued focus on expanding its presence across high-demand residential corridors in Bengaluru through capital-efficient partnerships, adding that the company is confident the project will see strong buyer interest given steady demand in the micro-market, and that it expects to bring the project to market within the next 6–12 months.
The Hennur Road deal is not an isolated move. Earlier in the year, Puravankara had already strengthened its Bengaluru growth pipeline through a 53.5-acre land parcel in Anekal Taluka with a development potential of 6.4 million square feet and an estimated GDV of over ₹4,800 crore. It is also developing a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru in partnership with KVN Property Holdings LLP, with a development potential of 3.48 million square feet and a GDV of more than ₹3,300 crore, alongside a 5.5-acre joint development in Balagere, East Bengaluru, with a developable area of 0.85 million square feet and a GDV of over ₹1,000 crore.
The scale of these additions sits against a backdrop of an already sizeable portfolio. As of December 31, 2025, Puravankara has completed 93-plus projects measuring about 56 million square feet across nine cities — Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa, with a total land bank close to 38 million square feet and ongoing projects adding up to 34 million square feet.
Market reaction to the announcement was mixed in the short term. Puravankara's stock fell 3.95% to ₹179.93 on March 9, 2026, even as the company revealed the joint development deal for the Hennur Road plot. Analysts, however, remain broadly constructive on the stock, with an average 'Strong Buy' rating and price targets between ₹400 and ₹482, while industry forecasts point to residential prices in Bengaluru rising around 7% in 2026, among the strongest in major Indian cities.
For homebuyers, the announcement signals more supply likely to arrive in the mid-premium segment along the Hennur Road corridor over the next year to eighteen months. Real estate trackers note that Hennur Road forms part of a broader North Bengaluru growth belt that includes Thanisandra, Hebbal, Yelahanka, Devanahalli, and Bagalur — corridors that continue to draw both developers and buyers seeking long-term appreciation on the back of airport connectivity and expanding employment hubs.
