Puravankara Limited has expanded its North Bengaluru portfolio through a joint venture with KVN Property Holdings LLP for a 24.59-acre land parcel at KIADB Hardware Park. The uptick in Puravankara share price came after the company announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with an estimated Gross Development Value in excess of Rs 3,300 crore. The announcement, made in May 2025, triggered an immediate market reaction, with Puravankara shares rallying up to 9.74 per cent to an intraday high of Rs 241 per share.
The scale of the project is significant for the region. The land parcel has a total saleable area of approximately 3.48 million sq. ft., and the project was expected to be launched within six months of the announcement. Commenting on the deal at the time, Ashish Puravankara, Managing Director, Puravankara Limited, said the joint venture highlighted the company's sustained confidence in the North Bengaluru market, noting that the scale, location, and partnership model position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers, aligning with the company's broader vision of creating high-quality, community-focused housing across emerging corridors.
The parcel sits in a corridor that has since taken shape as a full residential community. Located in the rapidly developing KIADB – Aerospace Park corridor of Bagalur, North Bengaluru, the project spread across approximately 24.59 acres is now being marketed as Northern Lights by Puravankara | KVN. The premium development offers 2 BHK, 3 BHK, and 4 BHK apartments in KIADB Aerospace Park, Bagalur, designed to meet the needs of young professionals, growing families, and homebuyers looking for spacious luxury residences.
This KIADB Hardware Park acquisition was part of a broader pattern of land additions by Puravankara through 2025 and into 2026. By December 2025, the company disclosed further momentum: before an additional 53-acre Anekal acquisition, during H1 FY26, Puravankara had added a total of 6.36 million sq ft of developable area in Bengaluru and Mumbai, with an estimated gross development value of Rs 9,100 crores, taking the potential GDV to Rs 13,900 crores and the developable area to 12.76 msft for the year to date. The KIADB Hardware Park parcel was specifically called out as part of this growth push, alongside a joint development for a 5.5-acre parcel in Balegere, East Bengaluru, with a developable area of 0.85 msft and a potential GDV of over Rs 1,000 crores.
By March 2026, company disclosures confirmed the KIADB Hardware Park project remained active in the development pipeline. Puravankara continued developing the 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 over Rs 3,300 crore. As of that update, Puravankara had completed 93 plus projects measuring about 56 million square feet across nine cities, with a total land bank close to 38 million square feet and ongoing projects adding up to 34 million square feet.
For homebuyers, the KIADB Hardware Park and adjoining Aerospace Park corridor in Bagalur represents one of North Bengaluru's most closely watched growth pockets. Proximity to Kempegowda International Airport, ongoing employment growth in the aerospace and technology sectors, and improving road infrastructure are the key demand drivers cited across Puravankara's recent North Bengaluru announcements. As the company continues rolling out its pipeline in this corridor, buyers evaluating Northern Lights by Puravankara | KVN should track RERA registration status, final unit configurations, and pricing as the project moves from land-bank status toward formal launch.
This deal is one of several Puravankara has struck in North Bengaluru's airport-adjacent belt in recent quarters, reflecting sustained developer confidence in the micro-market even as broader industry supply growth has moderated.
