Puravankara announces joint development of 5.5-acre land parcel in East Bengaluru
The acquisition aligns with the companys strategic vision to expand its footprint in key Bengaluru micro-markets that feature robust infrastructure, excellent connectivity, and sustained residential demand.
The land parcel offers a total saleable area of approximately 0.83 million square feet. Located in Balagere, East Bengaluru, the site benefits from strong and consistent market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to launch within the next six to nine months.
Ashish Puravankara, managing director, Puravankara, said, This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the citys most dynamic and promising micro-markets. The scale and location of this project are ideal for an ultra-luxury offering tailored for individuals seeking a refined lifestyle that mirrors their success. It aligns with our broader vision of creating high-quality, community-focused housing across Bengalurus emerging corridors.
Mallanna Sasalu, CEO South, Puravankara, added, Balagere has emerged as a highpotential residential micro-market, driven by its proximity to key IT hubs and well-established infrastructure. This project, structured under a Joint Development Agreement (JDA), reflects our capital-efficient approach to growth. The micro-market has demonstrated steady sales and rental demand, reduced market risk and support for faster inventory take-off. We expect to bring the project to market in the next 6-9 months and are confident it will be a strong addition to our expanding portfolio.
Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs.
The company reported consolidated net loss of Rs 75.89 crore in Q4 FY25 as against net profit of Rs 6.50 crore posted in Q4 FY24. Net sales tanked 63.9% year on year to Rs 155.21 crore in Q4 FY25.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 minutes ago
- Time of India
Spain Joins Arab & Int'l Community In Gaza Airdrops; Starvation Crisis Continue Amid Israeli War
'Saiyaara' Box Office collection day 14: Ahaan Panday and Aneet Padda's romantic film earns Rs 6.5 crore on second Thursday; crosses Rs 280 crore markTrump wants deal to end Russia's war in Ukraine by August 8, US tells UNHockey Canada sexual assault trial acquittals ignite fury as toxic locker room culture and sexist branding persistHousing scam: 2 B'desh courts indict Hasina, 99 others in 6 cases'Germaphobic' Kylie Kelce keeps her daughters' hands germ-free in public bathrooms with genius mom trickPakistan jails more than 100 members of ex-PM Imran Khan's party for 2023 riotsTrump tells Russian official to 'watch his words,' but he bites back insteadExclusive - Samridhii Shukla: Women on-screen are changing and that keeps us relevantThe invisible threat: How online strangers are grooming children, and what we can do about itBessent on China trade talks: 'I believe we have makings of a deal'Sagittarius Daily Horoscope Today, August 1, 2025: Find balance between drive and calmWorld Lung Cancer Day 2025: The most effective tests for early detectionNBA Trade Rumors: Golden State Warriors Urged to Pursue $83,081,018 Sacramento Kings Star Duo to Bolster Squad; Jonathan Kuminga Prime Trade AssetFor 1st time, ED enters Port Blairon bank scam trailNHL Trade Rumors: Erik Karlsson sets clear condition for Penguins exit amid rebuilding talks'She's interested': Taylor Swift could become NFL team owner as league approves potential Chiefs stakeZojila tunnel to miss September 2026 deadline, to be ready by February '28What is a leaky heart valve? Doctor explains causes, diagnosis, and risks Copyright © 2025 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service
Time of India
4 minutes ago
- Time of India
Small-value payments to cost banks; Swiggy's grim Q1
Small-value payments to cost banks; Swiggy's grim Q1 Also in the letter: Subsidy on small-value UPI payments cut, banks look for ways to offset cost Driving the news: What does this mean? Large merchants can negotiate favourable deals with banks and payment aggregators. Small merchants, with limited leverage, end up paying more to payment aggregators, industry insiders said. Large impact: Also Read: Swiggy's loss doubles to Rs 1,197 crore, revenue jumps Driving the news: Segment-wise breakup: Food delivery stayed profitable at Rs 202 crore. Instamart bled heavily, with Rs 806 crore in revenue growth and Rs 797 crore in losses. Ebitda margin remained negative as the company continued to expand its ecosystem. The bottom line: Also Read: Paring down: What's happening: Quote, unquote: PB Fintech reports 33% surge in Q1 revenue Financials: Operating income: Rs 1,348 crore, vs Rs 1,010 crore a year ago. Rs 1,348 crore, vs Rs 1,010 crore a year ago. Net profit: Rs 82 crore, up from Rs 55 crore a year ago. Rs 82 crore, up from Rs 55 crore a year ago. Overall expenses: rose to Rs 1,355 crore. rose to Rs 1,355 crore. Insurance premium collection: grew to Rs 6,616 crore. grew to Rs 6,616 crore. Overall credit disbursals: more than doubled to Rs 7,000 crore. Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: AI-led ad frauds skim billions from brands one click at a time Smoke screens: Traffic exchange networks: Website owners agree to view each other's websites to boost impressions, with zero genuine engagement. Proxy traffic services: They disguise bot activity as legitimate human visits, slipping past basic detection tools. Tell me more: Number-wise: Nearly 22% ($84 billion) of online ad spend was lost to fraud in 2023; losses could hit $170 billion by 2028, data showed. Another research showed bots generate over 51% of all internet traffic, overtaking human activity for the first time. Invalid bot traffic surged 86% year-on-year in late 2024, according to ad measurement firm DoubleVerify. Keeping Count Other Top Stories By Our Reporters Cognizant beats own estimate: Zetwerk founders raise personal debt: Cybersecurity startup Safe Security raises $70 million: IPV launches $110 million international fund: Global Picks We Are Reading Happy Friday! Banks are scrambling as the government cut incentive on small-value UPI transactions. This and more in today's ETtech Morning Dispatch.■ AI-led ad frauds cost brands billions■ Cognizant's financials■ Zetwerk founders raise debtIf India's 'free UPI' policy was already pinching banks, the government's latest move has turned the screw further . A fresh cut in incentives for small-value digital payments is prompting banks to quietly shift part of the cost to their partners and finance ministry had trimmed the incentive for small-value person-to-merchant (P2M) UPI transactions by 10 basis points, to 0.15% per transaction. Bankers say the cut has triggered a wave of charges for large merchants. They add that the trend surfaced when ICICI Bank informed clients it would start levying fees on UPI transactions from August around the 'zero MDR' rule continues to frustrate banks and payment players. The ripple effects are government has slashed its digital payments subsidy to Rs 1,500 crore from Rs 3,500 crore last year. To work within the reduced budget, the Department of Financial Services will now offer an incentive of just 0.15% limited to only low-value UPI payments to merchants with annual turnover below Rs 20 Majety, CEO, SwiggySwiggy's losses deepened in Q1FY26 and saw the second consecutive three-month period of cash burn over Rs 1,000 crore, even as the company posted a solid revenue food delivery and quick commerce player reported a net loss of Rs 1,197 crore, nearly double compared to the same time last year, while revenue rose 54% year-on-year to Rs 4,961 crore. Mounting delivery, ad, and logistics costs across verticals, especially in quick commerce, drove total expenses up 60%.Swiggy is betting on ecosystem-led growth, but the mounting cost of that ambition is keeping profitability out of reach. With rivals circling across verticals, the company faces little room for plans to pare its stake in Rapido as the mobility unicorn steps into its home turf of food food delivery platform said it is 'actively re-evaluating' its 12% holding in Rapido, citing a 'potential conflict of interest' with the startup's new plans. In a note to shareholders, Swiggy praised Rapido's growth, but signalled the two companies were on divergent paths.'When we got into Rapido, it was a mobility player doing really well, and we wanted to partner with them on that journey. We've even had conversations with them on a partnership in food delivery, but unfortunately, that didn't materialise and they've decided to get into the business themselves,' said Swiggy CEO Sriharsha Bansal and Yashish Dahiya, founders, PB FintechPB Fintech, the parent company of insurance marketplace Policybazaar and credit marketplace Paisabazaar, reported robust results for the first quarter of FY26, with a 33% rise in operating Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship China to Egypt, the murky world of fake clicks is thriving. So-called 'click farms' are inflating website traffic numbers and duping advertisers, while the black market for digital ad fraud shows no signs of schemes go beyond bots tapping on ads. Other tactics include:The damage is significant. Brands still judge companies by clicks and impressions, which are easy to game. Experts warn that even global advertisers are blindsided by automated bot attacks and phantom Kumar, CEO, CognizantUS-headquartered IT services firm Cognizant beats its own revenue forecast for the second quarter of 2025, posting an 8.1% year-on-year (YoY) increase to $5.25 billion and a profit rise of 13.9% to $645 founders Amrit Acharya and Srinath Ramakkrushnan are investing Rs 600 crore in the business-to-business manufacturing startup, people in the know intelligence startup Safe Security has raised $70 million in funding, led by Avataar Ventures, with participation from Susquehanna Asia Venture Capital, NextEquity Partners, and Prosperity7 angel investing platform Inflection Point Ventures (IPV) has launched IPV International , a $110 million Category I Angel Fund registered under GIFT City's International Financial Services Centres Authority (IFSCA) framework.■ China summons Nvidia over 'serious security issues' with chips ( FT ■ Unleashing the AI jobs revolution in Africa ( Rest of World ■ The inside story of Eric Trump's American bitcoin ( Wired
Hans India
4 minutes ago
- Hans India
NTR Smart Township scheme revamped to boost sales
Vijayawada: The state government announced a significant revamp of the NTR Smart Townships scheme, aiming to revitalise Middle-Income Group (MIG) housing projects, streamline plot allotments, and boost revenue. The updated guidelines, outlined in GO Ms No 148 by the municipal administration and urban development department, seek to expedite project execution, enhance transparency, and better cater to market demand. The NTR Smart Townships initiative, originally designed to provide affordable and well-planned housing for the middle class, has encountered substantial hurdles. Out of 74 approved projects across 66 Assembly Constituencies, only 36 have commenced, with a mere 29 per cent of plots sold and just 23 per cent of anticipated revenue realised. The government attributes this lackluster performance to restrictive policies, including a lottery-based plot allocation system, an Rs 18 lakh income ceiling, a one-plot-per-family rule, and uniform pricing irrespective of plot size or location. To rectify these issues, the government has suspended new applications for launched layouts. Pending applications will be addressed through one-time lotteries. Unsold plots will now be put up for auction, adhering to Development Authority norms, to accelerate infrastructure development. Furthermore, non-launched MIG projects will be re-designated as commercial housing layouts, to be managed by Urban Development Authorities (UDAs) under revised regulations or government directives, promoting a more market-driven strategy. Municipal administration and urban development principal secretary S Suresh Kumar said, 'The NTR Smart Townships were conceived to provide affordable housing, but public response has been inadequate. These revised guidelines are intended to streamline processes and attract more buyers.' The special officer for MIG layouts, Director of Town and Country Planning, and engineer-in-chief of public health have been instructed to implement these changes immediately. Provisions under Section 3 of GO Ms No 76, dated July 28, 2021, will no longer apply to unallotted plots in launched layouts.
