Bengaluru-based Puravankara Limited has made significant strides in India’s real estate sector by adding four new projects—two each in Mumbai and Bengaluru—with a combined gross development value (GDV) of ₹9,100 crore during the first half of FY26.
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Strategic Expansion in Key Real Estate Markets
The expansion underscores Puravankara’s intent to strengthen its presence in India’s top-performing real estate hubs.
According to the company, these projects collectively offer over 6.36 million sq ft of potential developable area, enhancing its overall growth pipeline and boosting long-term revenue prospects.
Mumbai: Premium Redevelopment Projects in Prime Localities
Puravankara’s Mumbai expansion includes two redevelopment projects located in highly sought-after micro-markets — Malabar Hill and Chembur.
- Malabar Hill Project (₹2,700 crore GDV):
Spread across 1.43 acres, this luxury redevelopment will offer 0.7 million sq ft of development potential. The project is poised to cater to Mumbai’s premium housing segment, reinforcing Puravankara’s brand positioning in South Mumbai’s elite neighbourhoods. - Chembur Project (₹2,100 crore GDV):
Located on 4 acres of land, this project will deliver 1.2 million sq ft of high-end residential and mixed-use development, targeting mid- to upper-income buyers in one of Mumbai’s most well-connected suburbs.
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Bengaluru: Strengthening the Home Market
In Bengaluru, Puravankara has added two major joint development projects that highlight its strategic focus on partnerships and large-scale growth.
- KVN Property Holdings LLP Partnership (₹3,300 crore GDV):
This collaboration involves a 24.59-acre land parcel, offering 3.48 million sq ft of developable area. The project is expected to become one of North Bengaluru’s landmark residential developments. - Balegere Project (₹1,000 crore GDV):
Located on 5.5 acres, this project adds another premium offering to East Bengaluru’s growing housing corridor, where Puravankara already enjoys a strong presence.
Strong Financial and Operational Performance
Despite a challenging macroeconomic backdrop, Puravankara continued its growth momentum in Q2 FY26, with steady sales and rising realisation values.
- Pre-sales in Q2 FY26: ₹1,322 crore — up 4% year-on-year (YoY) from ₹1,270 crore in Q2 FY25.
- Pre-sales in H1 FY26: ₹2,445 crore — a 4% increase compared to ₹2,349 crore in H1 FY25.
- Sales Volume: 1.50 million sq ft in Q2 and 2.75 million sq ft cumulatively for H1 FY26.
- Average Realisation: ₹8,814 per sq ft in Q2 FY26 (up 7% YoY), and ₹8,891 per sq ft in H1 FY26 (up 8% YoY).
According to Ashish Puravankara, Managing Director, Puravankara Ltd,
“In Q2 FY26, we sustained growth momentum, driven entirely by sustenance sales. Our pre-sales and collections improved year-on-year, and we made significant progress in expanding our portfolio with a GDV of around ₹9,100 crore.”
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Market Outlook: Riding the Real Estate Upswing
India’s real estate market continues to witness robust demand amid strong GDP growth and resilient consumer sentiment.
The company cited that India’s real GDP rose 7.8% YoY in Q1 FY26, led by strong performance in the construction, services, and consumption sectors.
The Reserve Bank of India (RBI) has revised the FY26 GDP growth forecast to 6.8%, reflecting confidence in the economy’s ability to withstand global uncertainties.
Meanwhile, residential demand across major metros grew about 1% YoY in Q3 CY25, with the ₹1–2 crore segment leading volumes. Prices in top cities like NCR, Bengaluru, and Chennai rose by 5–17%, highlighting sustained market buoyancy.
With its strong brand equity, diversified project portfolio, and strategic partnerships, Puravankara is well-positioned to leverage these tailwinds and further strengthen its leadership in India’s real estate market.
