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Business Standard
10-07-2025
- Business
- Business Standard
Puravankara inks ₹1,000-cr JDA for housing project in East Bengaluru
Bengaluru-headquartered real estate major Puravankara Group has announced a joint development agreement for a 5.5-acre land parcel in Balagere, East Bengaluru. The project has an estimated gross development value (GDV) of over ₹1,000 crore. The upcoming development will offer a total saleable area of approximately 0.83 million square feet. Strategically located near key IT hubs and supported by established infrastructure, the site is positioned to cater to the strong residential demand in the area. Ashish Puravankara, Managing Director, Puravankara, said: 'This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's 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 Bengaluru's emerging corridors.' The launch is slated for the next six to nine months and aligns with Puravankara's strategy to deepen its presence in high-growth micro-markets across Bengaluru, characterised by robust infrastructure, strong connectivity, and consistent housing demand. Mallanna Sasalu, Chief Executive Officer – South, Puravankara, added: 'Balagere has emerged as a high-potential 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 supports faster inventory take-off.' In January this year, Puravankara acquired a 3.63-acre land parcel on Kanakapura Road in Bengaluru, with an estimated gross development value (GDV) of over ₹700 crore. Additionally, the company entered into a joint venture with KVN Property Holdings LLP to develop a 24.59-acre site in North Bengaluru, a project expected to generate a GDV of approximately ₹3,300 crore. As of March, Puravankara has completed over 90 projects spanning approximately 53 million square feet across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's current land bank stands at around 25 million square feet, with ongoing developments covering an additional 37 million square feet.
Business Standard
10-07-2025
- Business
- Business Standard
Puravankara Announces JDA for 5.5-acre land parcel in East Bengaluru with potential GDV of over Rs 1,000 crores
VMPL Bengaluru (Karnataka) [India], July 10: Puravankara Group (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has announced the joint development of a 5.5-acre land parcel in East Bengaluru, with a combined estimated gross development value (GDV) of over Rs 1,000 crores. The acquisition aligns with the company's strategic vision to expand its footprint in key Bengaluru micro-markets with robust infrastructure, excellent connectivity, and sustained residential demand. The land parcel offers a total combined saleable area of 0.83 million square feet. Located in Balagere, East Bengaluru, the site enjoys strong and steady market demand due to its proximity to major IT hubs and well-established social and physical infrastructure. The project is expected to be launched in the next six to nine months. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, "This joint development underscores our sustained growth strategy and reaffirms our confidence in East Bengaluru, one of the city's 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 Bengaluru's emerging corridors." Mallanna Sasalu, CEO - South, Puravankara Limited, added, "Balagere has emerged as a high-potential 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 supports 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." Earlier this year, the company acquired a 3.63-acre land parcel in Kanakapura Road, Bengaluru, with an estimated GDV of Rs 700+ crores. It also announced a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru, with a potential GDV of Rs 3,300 crore.
Business Standard
31-05-2025
- Business
- Business Standard
Puravankara Closes FY25 with Rs 3,937 Cr Collections, Up 9% YoY; Enters Golden Jubilee Year
VMPL Bengaluru (Karnataka) [India], May 31: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, announced its results for the quarter ending March 31, 2025, and consolidated results for FY25. The year was marked by continued expansion across strategic markets, disciplined capital allocation, and laying the groundwork for future growth. In Q4FY25, Pre-sales stood at Rs 1,282 crore, driven by a sales volume of 1.42 million square feet and healthy collections of Rs 946 crore. Total revenue for the quarter stood at Rs 564 crore. For FY25, the company achieved robust pre-sales of Rs 5,006 crore, with a sales volume of 5.67 million square feet and a 10% year-on-year increase in sales realisation to Rs 8,830 per square foot. Collections for the year stood at Rs 3,937 crore, reflecting a 9% growth over the previous year. Total revenue came in at Rs 2,093 crore, while operating cash inflows grew by 10% YoY to Rs 4,342 crore. Commenting on the company's strategic direction, Ashish Puravankara, Managing Director, Puravankara Limited, said, "We have entered our Golden Jubilee year with a clear focus on growth, backed by bold investments and disciplined execution. FY25 saw record sustenance sales, and our western India investments are now poised to come to market. We are also actively pursuing several major redevelopment projects. With over 13.5 million sq. ft. in the pipeline group-wide, and key approvals in place, we are optimistic about delivering long-term value to all stakeholders while reinforcing our legacy of trust and innovation." Kicking off FY26 on a strong note, the company announced a strategic joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru's KIADB Hardware Park. With an estimated gross development value (GDV) of over Rs 3,300 crore and a saleable area of 3.48 million square feet, the project further strengthens the Group's launch pipeline and regional dominance. During FY 24-25, Puravankara expanded its presence in Western India by acquiring four marquee projects, including redevelopment projects, across Lokhandwala, Pali Hill, Breach Candy, and Thane, unlocking a combined Gross Development Value (GDV) potential of over Rs 9,500 crore. These investments reflect the company's commitment to derive 40% of future revenues from Mumbai and Pune, supported by strong demand and premium positioning in these micro-markets. In March 2025, the company successfully launched its much-awaited project, 'Purva Panorama' in Thane, Mumbai, with a total development potential of 3 million square feet and an estimated GDV of Rs 4,000 crore. The project received an excellent response, commencing with Tower C, which covers 0.52 million square feet. The company is poised for substantial growth in its West portfolio. The Company continues to invest in its Grade A commercial portfolio, with nearly 2 million sq. ft. expected to receive occupancy certificates (OCs) in FY26, thereby enhancing annuity income visibility. Despite approval delays that impacted some project launches--including regulatory shifts such as the new e-khata policy--approvals have now begun to come through, setting the stage for a more active launch calendar in the coming quarters. The company has delivered approximately. 3.09 million square feet in FY25 and is expecting occupancy certificates (OC) for key projects like Atmosphere, Oakshire, Capella in Bengaluru & Adora De Goa in Goa in FY26 with a total saleable area of 3.95 million square feet and a total GDV of Rs 3200 crore. This will enable a ramp-up in handovers and revenue recognition in the coming quarters. Aligned with its Golden Jubilee vision, Puravankara has also initiated changes as part of a company-wide effort to drive operational synergy and further enhance the customer experience. These initiatives are geared toward better integration across its portfolio, leading to better delivery timelines, increased transparency, and overall improved execution efficiency. As the Indian real estate market matures and consolidates, Puravankara continues to build for the long term, with a robust land bank, premium market presence, and a customer-first approach that has stood the test of five decades. Yearly Performance Summary (FY25) - Area sold: 5.67 msft - Sales value: Rs 5,006 crore - Sales realisation: Rs 8,830/sft -Total Revenue: Rs 2,093 crore - Loss: Rs 186 crore Quarterly Performance Summary (Q4FY25) - Area sold: 1.42 msft - Sales value: Rs 1,282 crore - Sales realisation: Rs 9,031/sft - Total Revenue: Rs 564 crore - Loss: Rs 88 crore Projected Cash Flows As of 31st March 2025, - Total estimated surplus from all completed and ongoing projects is Rs 8,505 crore. - The estimated surplus from commercial projects stood at Rs 1,870 crore. - The estimated surplus from the launch pipeline stood at Rs 5,574 crore. - The total estimated surplus stood at Rs 15,949 crore. Debt The company's net debt stood at Rs 2,949 crore, and the net debt-to-equity ratio stood at 1.70 as of 31st March 2025. The weighted average cost of debt stood at 11.85% as of 31st March 2025.
Economic Times
30-05-2025
- Business
- Economic Times
Puravankara posts Rs 1,282 crore pre-sales, FY25 loss narrows
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads eal estate major Puravankara Limited Recorded all-time high pre-sales of Rs 5,006 crore, reflecting strong demand and execution across markets. The company sold 5.67 million sq. ft. during the year, with a 10% year-on-year increase in average realisation to Rs 8,830 per sq. revenue stood at Rs 2,093 crore, while customer collections rose to Rs 3,937 crore. Despite posting a net loss of Rs 186 crore, the company demonstrated financial resilience with a 10% growth in operating cash inflows to Rs 4,342 crore, highlighting its robust cash flow generation and sustained firm reported robust operational performance for the quarter ended March 31, 2025 (Q4FY25), with pre-sales rising to Rs 1,282 crore, supported by sales of 1.42 million sq. ft. and improved average realisation of Rs 9,031 per sq. ft. Total revenue for the quarter stood at Rs 564 crore, while net loss narrowed sequentially to Rs 88 the full fiscal year FY25, the company recorded all-time high pre-sales of Rs 5,006 crore, driven by a sales volume of 5.67 million sq. ft. and a 10% year-on-year increase in realisation to Rs 8,830 per sq. ft. Total revenue for the year stood at Rs 2,093 crore, while annual collections reached Rs 3,937 crore. Net loss for FY25 was reported at Rs 186 crore. Despite the bottom-line pressure, operating cash inflows rose 10% year-on-year to Rs 4,342 crore, underlining the company's strong cash-generating ability.'FY25 marked a significant inflection point for Puravankara with record pre-sales and strong customer collections,' said Ashish Puravankara, Managing Director. 'As we enter our Golden Jubilee year, our focus is on monetising a diversified pipeline across key geographies, especially Western India, while scaling execution in both residential and commercial segments.'As part of its Western India strategy, the company acquired four marquee redevelopment projects in Mumbai—at Lokhandwala, Pali Hill, Breach Candy, and Thane—unlocking a combined Gross Development Value (GDV) of over Rs 9,500 crore. In March 2025, Puravankara launched 'Purva Panorama' in Thane, a flagship project with 3 million sq. ft. of development potential and an estimated GDV of Rs 4,000 North Bengaluru, the company entered into a joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel at KIADB Hardware Park, with an estimated GDV of Rs 3,300 crore and a saleable area of 3.48 million sq. ahead, the group's launch pipeline spans 13.5 million sq. ft., backed by key regulatory approvals. Additionally, 2 million sq. ft. of Grade-A commercial space is expected to receive occupancy certificates in FY26, expanding annuity income visibility. Upcoming handovers in FY26 include projects such as Atmosphere, Oakshire, Capella (Bengaluru), and Adora De Goa, with a combined GDV of Rs 3,200 of March 31, 2025, Puravankara maintained a net debt of ₹2,949 crore, with a net debt-to-equity ratio of 1.70x and a weighted average cost of debt at 11.85%. The company's total estimated surplus stood at a strong Rs 15,949 crore—comprising Rs 8,505 crore from ongoing and completed projects, Rs 1,870 crore from commercial assets, and Rs 5,574 crore from its upcoming launch pipeline—underscoring the financial headroom to support future growth and execution.
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Business Standard
12-05-2025
- Business
- Business Standard
Here's why Puravankara share price soared 10% on May 12; details
Puravankara share price: Real estate player Puravankara shares were in demand on Monday, May 12, 2025, with the scrip rallying up to 9.74 per cent, to an intraday high of ₹241 per share. At 9:19 AM, Puravankara share was trading 9.29 per cent higher at ₹240. In comparison, BSE Sensex was trading 2.20 per cent higher at 81,199.73 levels. Catch Stock Market Updates Today LIVE What triggered the rally in Puravankara share price? The uptick in Puravankara share price came after the company announced a joint venture (JV) with KVN Property Holdings LLP, to develop a 24.59-acre land parcel in North Bengaluru. The project's estimated Gross Development Value (GDV) is in excess of ₹3,300 crore, Puravankara said in a statement. The land parcel has a total saleable area of approximately 3.48 million sq. ft., and the project is expected to be launched in the next six months. 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction. The scale, location, and partnership model of this project position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers. It aligns with our broader vision of creating high-quality, community-focused housing across emerging corridors,' said Ashish Puravankara, managing director, Puravankara. Leadership changes The company has announced the appointment of Mallanna Sasalu as CEO, Puravankara Ltd – South, subject to the approval of the Nomination & Remuneration Committee and Board of Directors of the Company. Furthermore, Abhishek Kapoor has resigned from the position of CEO and executive director of the company. ALSO READ | Will Sensex, Nifty rise or fall this week? Key levels to track About Puravankara Puravankara Group, headquartered in Bengaluru, is a real estate developer with a strong pan-India presence. Over the last five decades, it has launched three residential brands—Purva, Provident Housing, and Purva Land—to serve diverse housing needs. Its subsidiary, Starworth Infrastructure, delivers tech-driven construction solutions, while Purva Streaks offers integrated interior design services. The group has also entered the Grade-A commercial real estate space with ~3 million sq. ft. under development. As of December 31, 2024, Puravankara has completed over 85 projects spanning ~51 million sq. ft. across nine cities, with a land bank of ~30 million sq. ft. and ongoing projects totaling 33.08 million sq. ft.
