Puravankara to launch projects with GDV of Rs 18,000 crore next 18 months

Bengaluru: Bengaluru-based real estate developer Puravankara is planning to launch new residential projects spread over 15 million square feet (msf) with a gross development value (GDV) of Rs 18,000 crore over the next 12 to 18 months. With this the total GDV of its new projects under development will touch Rs 45,000 crore.

According to Mallanna Sasalu, CEO-South, Puravankara Ltd said the company is currently developing projects worth Rs 27,700 crore across residential, and commercial properties. Of this, it has already completed and sold properties worth Rs 9,700 crore and the balance Rs 18,000 crore worth of projects are in various stages of completion.

"Puravanakara completed blemishless 50 years recently and laid a strong foundation over this period. We want to continue the same values and grow faster and bigger in the coming years. We are going aggressively in Mumbai with the redevelopment and greenfield projects in Pune and other 7 cities in the South," Mallanna told DH.

He said the company is exploring options to buy more land in various cities it is present right now and consolidate its presence as a Grade A developer. It is looking to acquire 9-10 msf land across 7 cities, he said.

The company is currently developing 3 msf of commercial properties (Purva Aerocity and Purva Zentech) in Bengaluru and over the next year complete 1.2 million sq ft. The total area under development is about 51 msf across both residential and commercial properties. It is currently developing 30 projects spread over 24.44 million sq ft across Mumbai, Bengaluru, Chennai, Kochi, Pune, and Goa. Over the next 18 months, it plans to launch residential projects spread over 15 msf, Mallanna said.

“While the real estate industry is growing at 9-10% annually, we want to grow much faster with higher margins and efficient delivery,” he said.

For the second quarter ended September 2025, Puravankara reported pre-sales of Rs 1,322 crore, marking a 4% year-on-year growth. The average price realisation improved by 7% year-on-year, while customer collections for the quarter grew by 8% to Rs 1,047 crore.

"During the first half of FY26, we made significant progress in expanding our portfolio, adding over 6.36 msf of potential developable area with an estimated GDV of approximately Rs 9,100 crore. These include marquee acquisitions across Mumbai and Bengaluru, such as Malabar Hill and Chembur redevelopment projects, and large-scale partnerships in North and East Bengaluru. Our focus remains on disciplined execution and value creation through strategic expansion in high-demand micro-markets,” said Ashish Puravankara, Managing Director, Puravankara Limited.

For the six months period ended September of the current fiscal, Puravankara achieved Rs 2,445 crore worth of pre-sales compared to Rs 2,349 crore in the first half of FY25. The average price realisation improved to Rs 8,891 per sq ft in H1 FY26, up by 8% year-on-year.