Joint Venture9 May 2025, 04:52 pm
Puravankara Group Enters Joint Venture for a 24.59 Acre Land Parcel in North Bengaluru with INR 3,300 Crores GDV
AI Summary
Puravankara Group has entered into a joint venture to develop a 24.59 acre land parcel in North Bengaluru. The project has an estimated Gross Development Value (GDV) of INR 3,300 crores and is expected to be launched in the next six months. The land parcel has a total saleable area of approximately 3.48 million sq. ft. The project benefits from strong market demand, proximity to Kempegowda International Airport, and access to upcoming infrastructure and employment hubs. The company has also appointed Mr. Mallanna Sasalu as the CEO-South and accepted the resignation of Mr. Abhishek Kapoor, Executive Director and Group CEO.
Key Highlights
- Puravankara Group enters joint venture for a 24.59 acre land parcel in North Bengaluru.
- The project has an estimated GDV of INR 3,300 crores and is expected to be launched in the next six months.
- The land parcel has a total saleable area of approximately 3.48 million sq. ft.
- Mr. Mallanna Sasalu appointed as the CEO-South.
- Mr. Abhishek Kapoor resigns from the position of Executive Director and Group CEO.