Puravankara Limited has signed a Joint Development Agreement (JDA) for a 12.76-acre land parcel in Sathanur, North Bengaluru, with an estimated Gross Development Value (GDV) of ₹2,500 crore.

The proposed development will have a saleable area of approximately 1.90 million square feet (msft), adding to the company's residential development pipeline in Bengaluru.

Key details of the Sathanur JDA

The following table summarises the key parameters of the newly signed JDA:

Ashish Puravankara, Managing Director, Puravankara Limited, said, "Our focus remains on strengthening Puravankara's development pipeline through strategic land additions that offer scale, strong market potential and visibility for future growth. The Sathanur JDA, with an estimated GDV of ₹2,500 crore, is another step in this direction. We continue to evaluate opportunities across key markets with a disciplined approach to capital allocation, ensuring that each investment contributes to building a stronger and more sustainable portfolio."

Mallanna Sasalu, CEO-South, Puravankara Limited, added, "The 12.76-acre land parcel at Sathanur offers us an opportunity to develop a sizeable residential project with approximately 1.90 million square feet of saleable area. Bengaluru continues to see healthy end-user demand. Our priority will be to translate this opportunity into a well-planned development that meets evolving homebuyer expectations, with a clear focus on product quality, timely approvals and efficient execution."

FY27 business development highlights

With the Sathanur JDA, Puravankara's business development additions for FY27 so far comprise eight projects with a combined development potential of around 12.64 msft across Bengaluru, Mumbai and Delhi-NCR, and a total potential GDV of ₹16,600 crore. The table below details the geographic breakdown:

About Puravankara Limited

The Puravankara Group is headquartered in Bengaluru with a pan-India presence. As of June 30, 2026, the company has completed 97 projects totalling approximately 59 msft across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is approximately 40 msft, and ongoing projects total 35.14 msft. The group also has a presence of approximately 3 msft in Grade A commercial real estate.

Puravankara has allotted the fourth and final tranche of non-convertible debentures (NCDs) valued at ₹25 crore, completing its board-approved issuance limit of ₹300 crore.

NCD allotment details

The allotment was made on October 9, 2026, via private placement to identified investors. The instruments are unlisted, unrated, senior, secured, redeemable, and non-convertible debentures with a face value of ₹10 lakh each. The total tenure extends to June 18, 2030.

This final tranche brings Puravankara's NCD issuance activity fully in line with the total board-approved limit of ₹300 crore for the NCD issue. The company had initially received approval for this fund-raising through private placement in May 2025.