Puravankara Enters JV for Rs 33 Bn North Bengaluru Project

14 May 2025 CW Team

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.

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