Puravankara Limited has entered into a joint development agreement (JDA) for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated Gross Development Value (GDV) of Rs 1,000 crore. The project, located in Kaggalipura Village, will be developed as a residential community with a saleable area of approximately 0.8 msft. This strategic addition increases the company's total potential GDV from land acquisitions and JDAs in Q1FY27 to Rs 5,200 crore.

Strategic Expansion in Bengaluru

The site is positioned for growth due to its connectivity via Sarjapur Road, the Outer Ring Road, and proximity to the Electronic City technology corridor. Ashish Puravankara, Managing Director, Puravankara Limited, stated that the move reinforces the company's commitment to high-potential urban corridors backed by infrastructure and employment density.

Q1FY27 Land Transactions

Mallanna Sasalu, CEO, Puravankara Limited, highlighted that the company announced four land transactions in Q1FY27, spanning approximately 41.93 acres. These deals carry a cumulative development potential of around 4.23 msft and a total estimated GDV of Rs 5,200 crore. The following table summarises the key metrics from these transactions:

Operational Overview

As of March 31, 2026, Puravankara has completed 95 projects totalling approximately 57 msft across nine cities. The company's ongoing projects amount to 36.69 msft, with a total land bank of approximately 40 msft.

Puravankara Ltd has approved the sale of its entire 100% stake in wholly owned subsidiary Purva Ruby Properties Private Limited to Prishal Office Parks III Private Limited for ₹145,00,00,000. The decision was taken by the company's board during a meeting held on Friday, June 26, 2026. Upon completion of the sale, Purva Ruby Properties Private Limited will cease to be a subsidiary of Puravankara Ltd.

The buyer, Prishal Office Parks III Private Limited, is owned by ICICI Prudential Office Yield Optimiser Fund – AIF II, a category II Alternative Investment Fund managed by ICICI Prudential Asset Management Company Limited. The filing confirms that the buyers do not belong to the promoter or promoter group of Puravankara Ltd. The transaction does not fall under related party transactions.

Puravankara Ltd is currently finalizing the Share Purchase Agreement (SPA) to effect the transaction. The company stated that the SPA is proposed to be executed within 45 days from the date of board approval. Intimation regarding the execution of the agreement will be provided to the stock exchanges upon completion.

According to the disclosures, the turnover of Purva Ruby Properties Private Limited for the last financial year was ₹25,38,89,035. This represented a contribution of 1.06% to the total turnover of Puravankara Ltd, which stood at ₹2399,01,37,354. The net worth of the subsidiary was negative, resulting in nil contribution towards the parent company's net worth.

The consideration of ₹145,00,00,000 will be received post the execution of the SPA. The regulatory references for the disclosure include Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master circular.