Puravankara Leases Major Retail Space To IKEA At Zentech Park

18 Nov 2025 CW Team

Purva Zentech Park is a mixed-use commercial development offering around 960,000 square feet of leasable and saleable area. Typical floor plates measure approximately 50,000 square feet, with modular units of 4,500 to 5,000 square feet available for lease or purchase. Located within a five-minute walk of both Konankunte Metro Station and Forum Mall, the IGBC Gold-certified project is designed to support large-format tenants as well as mid-sized occupiers. The development is under construction and scheduled for completion by early 2026.

IKEA will occupy the first and second floors, both designated for retail use. The space is expected to be handed over in Q1 2026, with operations to commence thereafter. Colliers’ office services team acted as the advisor for the transaction.

Rajat Rastogi, CEO – West and Commercial Assets at Puravankara Limited, said, “We are excited to onboard IKEA at Purva Zentech Park. Their decision to take more than 120,000 square feet of retail space across two floors strongly validates the project’s location, smart design, and adaptable layout. With Bengaluru’s leasing activity continuing to grow, particularly in the southern corridor, we are confident the development will evolve into a vibrant hub for business and lifestyle. IKEA’s presence marks a significant beginning and will help shape the project’s appeal and tenant mix.”

Puravankara currently has a commercial development pipeline of 3.2 million square feet, with nearly 2 million square feet expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 18.7 billion, presenting a major value-creation opportunity for the company. This latest development strengthens Puravankara’s commercial real-estate portfolio and deepens its presence in South Bengaluru’s high-growth corridor

Puravankara Limited, one of India’s most trusted real-estate developers, has announced the signing of an Agreement to Lease (ATL) with IKEA India for two floors of retail space at Purva Zentech Park on Kanakapura Road, Bengaluru. Purva Zentech Park is a mixed-use commercial development offering around 960,000 square feet of leasable and saleable area. Typical floor plates measure approximately 50,000 square feet, with modular units of 4,500 to 5,000 square feet available for lease or purchase. Located within a five-minute walk of both Konankunte Metro Station and Forum Mall, the IGBC Gold-certified project is designed to support large-format tenants as well as mid-sized occupiers. The development is under construction and scheduled for completion by early 2026. IKEA will occupy the first and second floors, both designated for retail use. The space is expected to be handed over in Q1 2026, with operations to commence thereafter. Colliers’ office services team acted as the advisor for the transaction. Rajat Rastogi, CEO – West and Commercial Assets at Puravankara Limited, said, “We are excited to onboard IKEA at Purva Zentech Park. Their decision to take more than 120,000 square feet of retail space across two floors strongly validates the project’s location, smart design, and adaptable layout. With Bengaluru’s leasing activity continuing to grow, particularly in the southern corridor, we are confident the development will evolve into a vibrant hub for business and lifestyle. IKEA’s presence marks a significant beginning and will help shape the project’s appeal and tenant mix.” Puravankara currently has a commercial development pipeline of 3.2 million square feet, with nearly 2 million square feet expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 18.7 billion, presenting a major value-creation opportunity for the company. This latest development strengthens Puravankara’s commercial real-estate portfolio and deepens its presence in South Bengaluru’s high-growth corridor

Infrastructure Urban

18 Nov 2025

PTC Expands Mehsana Plant To Boost Precision Manufacturing

PTC Industries Limited, a leading producer of high-precision castings and advanced materials for critical applications, has commenced a significant expansion of its investment-casting facility in Mehsana, Gujarat. With global supply chains undergoing a strategic realignment, industries are increasingly shifting production to resilient and trusted destinations. India is emerging as a major hub for precision manufacturing, creating substantial opportunities for industrial casting exports. In response, PTC is scaling and modernising its Mehsana site to capture rising global demand. The expansio..

Infrastructure Urban

18 Nov 2025

Apollo Completes Acquisition Of IDL Explosives

Apollo Defence Industries Private Limited, a subsidiary of Apollo Micro Systems Limited, has confirmed the successful completion of its full acquisition of IDL Explosives Limited from GOCL Corporation Limited. With this transaction now concluded, IDL Explosives becomes a step-down subsidiary of Apollo Micro Systems. IDL Explosives operates manufacturing facilities in Rourkela and several other locations across India. Apollo Group plans to expand and strengthen the company’s operations in line with its strategic ambitions within the rapidly growing defence explosives sector. The acquisition..

Infrastructure Urban

18 Nov 2025

GOCL Completes Sale Of IDL Explosives To Apollo Defence

GOCL Corporation Limited has announced the completion of the sale of its subsidiary, IDL Explosives Limited, to Apollo Defence Industries, marking the conclusion of the divestment process approved by shareholders earlier this year. IDL Explosives operates manufacturing units in Rourkela and several other locations nationwide. Apollo Defence plans to expand and reinforce the business in line with its strategic objectives within the rapidly growing defence sector. With this divestment, GOCL and the Hinduja Group complete their strategic exit from the explosives and detonators portfolio. Last y..