+
Puravankara Enters JV for Rs 33 Bn North Bengaluru Project
ECONOMY & POLICY

Puravankara Enters JV for Rs 33 Bn North Bengaluru Project

Puravankara Group (NSE: PURVA | BSE: 532891), one of India’s most respected real estate developers, has entered a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru. The project, expected to launch within the next six months, has an estimated Gross Development Value (GDV) exceeding Rs 33 billion.

The upcoming development will span approximately 3.48 million sq ft of saleable area, strategically located near Kempegowda International Airport and several key infrastructure and employment corridors. This expansion reaffirms Puravankara’s growing footprint in one of Bengaluru’s most sought-after residential markets.

Ashish Puravankara, Managing Director of Puravankara Ltd, said, “This joint venture strengthens our commitment to North Bengaluru, a market where we’ve consistently seen strong performance. Its location, scale and integrated vision align with our goal of building community-driven, high-quality housing in growth corridors.”

Mallanna Sasalu, CEO of Provident Housing Ltd, added, “Driven by infrastructure upgrades and seamless connectivity, North Bengaluru is seeing rising demand from discerning homebuyers. Building on the success of our earlier projects, we are confident this upcoming venture will add great value to our portfolio.”

Leadership Update:
The company also announced the appointment of Mr Mallanna Sasalu as CEO of Puravankara Ltd – South, subject to approval by the Nomination & Remuneration Committee and the Board. Mr Sasalu brings over 32 years of experience across engineering, architecture, and real estate in India and Canada, and is a Harvard Business School alumnus. He has played a key role in scaling Provident Housing Ltd.

Simultaneously, Mr Abhishek Kapoor has resigned from his role as CEO and Executive Director of Puravankara Ltd.

Puravankara Group (NSE: PURVA | BSE: 532891), one of India’s most respected real estate developers, has entered a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru. The project, expected to launch within the next six months, has an estimated Gross Development Value (GDV) exceeding Rs 33 billion.The upcoming development will span approximately 3.48 million sq ft of saleable area, strategically located near Kempegowda International Airport and several key infrastructure and employment corridors. This expansion reaffirms Puravankara’s growing footprint in one of Bengaluru’s most sought-after residential markets.Ashish Puravankara, Managing Director of Puravankara Ltd, said, “This joint venture strengthens our commitment to North Bengaluru, a market where we’ve consistently seen strong performance. Its location, scale and integrated vision align with our goal of building community-driven, high-quality housing in growth corridors.”Mallanna Sasalu, CEO of Provident Housing Ltd, added, “Driven by infrastructure upgrades and seamless connectivity, North Bengaluru is seeing rising demand from discerning homebuyers. Building on the success of our earlier projects, we are confident this upcoming venture will add great value to our portfolio.”Leadership Update:The company also announced the appointment of Mr Mallanna Sasalu as CEO of Puravankara Ltd – South, subject to approval by the Nomination & Remuneration Committee and the Board. Mr Sasalu brings over 32 years of experience across engineering, architecture, and real estate in India and Canada, and is a Harvard Business School alumnus. He has played a key role in scaling Provident Housing Ltd.Simultaneously, Mr Abhishek Kapoor has resigned from his role as CEO and Executive Director of Puravankara Ltd.

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?