Puravankara Limited has secured a 14.57-acre land parcel in Mandur, Budigere, Bengaluru, with a potential gross development value (GDV) of around Rs 2,300 crore. The acquisition comprises 7.92 acres secured through a joint development agreement (JDA) and 6.65 acres purchased outright. The total saleable area for the project is expected to be approximately 1.8 msft.

Acquisition Details

The following table summarizes the key parameters of the land transaction:

Strategic Significance

Ashish Puravankara, Managing Director, stated that this acquisition aligns with the company's disciplined growth strategy and confidence in market fundamentals. With this addition, Puravankara's total developable land bank in Bengaluru stands at 25.61 msft. The Budigere-Mandur corridor is noted as a key residential micro-market with long-term potential, supported by proximity to commercial hubs in North-East Bengaluru.

Mallanna Sasalu, CEO - South, highlighted the location's connectivity to major employment hubs like Whitefield and the Outer Ring Road. During FY26, Puravankara expanded its development pipeline in Bengaluru through acquisitions and JDAs at Hennur Road, Anekal Taluk, Balagere, and KIADB Hardware Park, accumulating a cumulative estimated GDV of approximately Rs 10,400 crore.

Puravankara Limited announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Sion Eden Developers Private Limited. The contract pertains to the execution of civil and structural works for the project Embassy Eden, located in Bengaluru.

Contract Details

The agreement has been classified as an item rate contract awarded by a domestic entity. The total value of the order stands at ₹133.34 crore, inclusive of Goods and Services Tax (GST). The project scope involves comprehensive civil and structural construction activities for the specified development.

Project Timeline

According to the disclosure, the execution period for the order is set at 34 months. This timeline commences from the date the site is officially handed over to the contractor, ensuring a structured schedule for the completion of the works.

Key Contract Information

The company confirmed that the order does not involve any related party transactions, nor do the promoter or group companies hold any interest in the entity awarding the contract.