en.Wedoany.com Reported - Indian real estate developer Puravankara Limited has signed a joint development agreement for a 6.4-acre land parcel in Bengaluru's Sarjapur corridor, with the residential project's estimated total development value at approximately ₹10 billion.

The upcoming residential community will have a saleable area of approximately 800,000 square feet. The company is adopting an asset-light joint development agreement model, working directly with landowners to optimize capital deployment and reduce upfront acquisition risks.

This transaction marks Puravankara's fourth rapid land addition in the first quarter of fiscal year 2027. The cumulative new additions for the quarter have reached 41.93 acres, with an integrated inventory providing 4.23 million square feet of development potential and a total estimated development value of ₹52 billion.

Managing Director Ashish Puravankara stated that Bengaluru remains a key growth market for the company, with growth dependent on securing land supported by strong infrastructure and homebuyer demand. CEO Mallanna Sasalu added that combining direct acquisitions with strategic joint development agreements balances scale expansion with capital efficiency.

The project site is located in Kaggalipura village within the Sarjapura Hobli boundary, offering direct connectivity via Sarjapur Road and the Outer Ring Road. The micro-market's appeal includes proximity to the Electronic City tech corridor and other IT employment hubs, with sustained high demand for modern homes from tech professionals and limited premium housing supply from established developers.

As of March 31, 2026, Puravankara's operational portfolio includes 95 completed projects totaling approximately 57 million square feet across nine cities. The company holds a total land bank of 40 million square feet, with under-construction area reaching 36.69 million square feet.