Puravankara signs Agreement to Lease with IKEA for retail space at Purva Zentech Park, Bengaluru

Puravankara Limited has signed an Agreement to Lease (ATL) with IKEA India for leasing of two floors of retail space at the Purva Zentech Park in Bengaluru. The project is a sustainable, Indian Green Building Council (IGBC) Gold development, designed to accommodate large-format tenants as well as mid-sized occupiers. IKEA will occupy the first and second floors of the development, which are designated for retail use. The space is expected to be handed over next year in Q1 of calendar year 2026, with operations scheduled to commence thereafter. The project is currently under construction and is slated for completion by early 2026. Puravankara currently has a commercial development pipeline of 3.2 million square feet, of which nearly 2 million square feet is expected to receive occupancy certificates within this financial year. Projects including Purva Zentech and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 1,870 crore.