Latest news with #PuravankaraGroup
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Abhishek Kapoor tenders resignation as Group CEO from Puravankara Group, Mallanna Sasalu appointed as CEO-South
Bengaluru-based real estate developer Puravankara Group has announced that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation. The company also announced the appointment of Mallanna Sasalu AS CEO-South. The company in its regulatory filing said that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation effective from the closure of business hours on May 9, 2025. The company in the regulatory filing added that Mallanna Sasalu has been appointed as the CEO-South, with effect from May 9, 2025, subject to the approval of the nomination and remuneration committee and Board of Directors in its forthcoming meeƟngs, respectively. According to the company, Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. Also Read: Puravankara Ltd in advanced stages of discussion for redevelopment of 3-4 housing societies in Mumbai: Group CEO Sasalu holds a degree in Civil Engineering and is an alumnus of Harvard Business School, adding a strong academic foundation to his diverse professional expertise, the company said. Currently, Sasalu has been instrumental in scaling Provident Housing Ltd. to new heights. The company said in a statement that his strategic leadership and operational expertise have positioned him as a pivotal figure in the organisation's growth and success. On May 9, the company also announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru. According to a statement issued by the company, the project has an estimated gross development value of ₹3,300 crore. Also Read: Puravankara Group announces 24.59-acre joint venture project in North Bengaluru, having ₹3,300 crore potential According to the company, 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.
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Puravankara Group announces 24.59-acre joint venture project in North Bengaluru, having ₹3,300 crore potential
Bengaluru-based listed real estate developer Puravankara Group has announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru. According to a statement issued by the company, the project has an estimated gross development value of ₹3,300 crore. "This joint venture with KVN Property Holdings LLP marks another milestone in the group's expansion in one of the city's fastest-growing real estate corridors," the company said in the statement. According to the company, 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. The company said the project benefits from strong market demand, proximity to Kempegowda International Airport, and access to upcoming infrastructure and employment hubs. Also Read: Looking for an apartment under ₹50 lakh in Bengaluru? Check out these locations '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," Ashish Puravankara, Managing Director, Puravankara Limited, said. 'North Bengaluru continues to attract discerning homebuyers, driven by infrastructure upgrades and connectivity to key economic hubs. This project is conceived on the back of the successes of our previous projects, which validates this joint venture development in this micro-market. The project is expected to come to market in 6-9 months, and we are confident this project will be a great addition to our impressive portfolio.' Mallanna Sasalu, CEO, Provident Housing Limited said. Also Read: Bengaluru real estate: Is the North or East a better investment option? Along with the project announcement, the company also 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. The company said that Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. Also Read: Real Estate Outlook 2025: North Bengaluru, outskirts of Whitefield among areas likely to see rental appreciation He holds a degree in Civil Engineering and is an alumnus of Harvard Business School, adding a strong academic foundation to his diverse professional expertise, the company said in its statement.
Economic Times
10-05-2025
- Business
- Economic Times
Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a strategic leadership transition, Puravankara Ltd. , a real estate development firm, has appointed Mallanna Sasalu as CEO – South, subject to the approval of the Nomination & Remuneration Committee and the Board of Directors. This leadership change marks a new chapter for Puravankara as it strengthens its management to support its next phase of growth and announcement marks a key organizational shift as Abhishek Kapoor steps down from his position as CEO and Executive Director of the company. Sasalu, a seasoned industry veteran, brings with him over 32 years of extensive experience in engineering, architecture, and real estate development across India and Canada. He holds a Civil Engineering degree and is an alumnus of Harvard Business School, combining a strong academic foundation with decades of on-ground leadership experience.'Prior to this appointment, Sasalu has played a pivotal role in the growth and transformation of Provident Housing Limited, the mid-income housing arm of the Puravankara Group. Under his leadership, Provident scaled new heights in operational efficiency, customer engagement, and market expansion,' said a person aware of the appointment signals Puravankara's renewed focus on region-specific leadership to drive business performance, especially as the company ramps up projects across Mumbai, Bengaluru, Chennai, and Hyderabad. His prior success in delivering large-scale, community-focused housing projects aligns with the company's mission to address diverse homebuyer needs across market segments.'The transition is part of the company's broader strategy to strengthen its regional leadership, enhance operational agility, and build on its momentum in the South India market—its historical stronghold,' said another source aware of the over five decades ago, the Puravankara Group is headquartered in Bengaluru and has established itself as a leading player in the Indian real estate sector. The Group operates through three residential brands—Purva, Provident Housing Limited (PHL), and Purva Land—catering to premium, mid-income, and plotted development segments Group also owns Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary specializing in technology-enabled construction, and Purva Streaks, its interior design services division. As of December 31, 2024, Puravankara has completed over 85 projects spanning 51 million square feet across nine cities and holds a land bank of approximately 30 million square feet. Ongoing projects cover an additional 33.08 million square feet.
Time of India
10-05-2025
- Business
- Time of India
Puravankara appoints Mallanna Sasalu as CEO – South; Abhishek Kapoor resigns
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a strategic leadership transition, Puravankara Ltd. , a real estate development firm, has appointed Mallanna Sasalu as CEO – South, subject to the approval of the Nomination & Remuneration Committee and the Board of Directors. This leadership change marks a new chapter for Puravankara as it strengthens its management to support its next phase of growth and announcement marks a key organizational shift as Abhishek Kapoor steps down from his position as CEO and Executive Director of the company. Sasalu, a seasoned industry veteran, brings with him over 32 years of extensive experience in engineering, architecture, and real estate development across India and Canada. He holds a Civil Engineering degree and is an alumnus of Harvard Business School, combining a strong academic foundation with decades of on-ground leadership experience.'Prior to this appointment, Sasalu has played a pivotal role in the growth and transformation of Provident Housing Limited, the mid-income housing arm of the Puravankara Group. Under his leadership, Provident scaled new heights in operational efficiency, customer engagement, and market expansion,' said a person aware of the appointment signals Puravankara's renewed focus on region-specific leadership to drive business performance, especially as the company ramps up projects across Mumbai, Bengaluru, Chennai, and Hyderabad. His prior success in delivering large-scale, community-focused housing projects aligns with the company's mission to address diverse homebuyer needs across market segments.'The transition is part of the company's broader strategy to strengthen its regional leadership, enhance operational agility, and build on its momentum in the South India market—its historical stronghold,' said another source aware of the over five decades ago, the Puravankara Group is headquartered in Bengaluru and has established itself as a leading player in the Indian real estate sector. The Group operates through three residential brands—Purva, Provident Housing Limited (PHL), and Purva Land—catering to premium, mid-income, and plotted development segments Group also owns Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary specializing in technology-enabled construction, and Purva Streaks, its interior design services division. As of December 31, 2024, Puravankara has completed over 85 projects spanning 51 million square feet across nine cities and holds a land bank of approximately 30 million square feet. Ongoing projects cover an additional 33.08 million square feet.
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Business Standard
09-05-2025
- Business
- Business Standard
Real estate major Puravankara Group's CEO Abhishek Kapoor steps down
Bengaluru-based real estate major Puravankara Group on Friday announced the resignation of Abhishek Kapoor from the position of chief executive officer and executive director of the group. In parallel, the company unveiled a joint venture to develop a 24.59-acre land parcel in North Bengaluru, with a gross development value (GDV) of ₹3,000 crore. As per a BSE filing by the company, Kapoor cited 'personal reasons' in his resignation letter and noted that his departure would be effective from 9 May, close of business hours. The joint development agreement with KVN Property Holdings LLP marks the group's continued expansion in the city. The land parcel has a total saleable area of approximately 3.48 million square feet, and the project is expected to launch within the next six months. The site benefits from proximity to Kempegowda International Airport, emerging employment hubs, and ongoing infrastructure development. Ashish Puravankara, managing director, Puravankara Limited, said: '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.' Mallanna Sasalu, newly appointed CEO of Puravankara Ltd – South, said that North Bengaluru continued to attract discerning homebuyers, driven by infrastructure upgrades and connectivity to key economic hubs. 'This project is conceived on the back of the successes of our previous projects, which validates this joint venture development in this micro-market. The project is expected to come to market in 6–9 months, and we are confident it will be a great addition to our impressive portfolio.' Puravankara competes with other real estate majors such as Prestige, Brigade, and Sobha in the Bengaluru market. The group has also forayed into developing Grade-A commercial real estate, with a presence of 3 million square feet, and is expanding its footprint rapidly.
