The company also announced strategic changes in leadership.
Puravankara Group has announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru, on the back of Puravankara’s sustained success in the micro-market. 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 project’s estimated Gross Development Value (GDV) is in excess of INR 3,300 crores.
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 project benefits from strong market demand, proximity to Kempegowda International Airport, and access to upcoming infrastructure and employment hubs.
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, CEO, Provident Housing Limited, added, “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.”
Leadership Transition and Strategic Appointment
Puravankara has 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.
Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. 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. Currently, Sasalu has been instrumental in scaling Provident Housing Ltd. to new heights. His strategic leadership and operational expertise have positioned him as a pivotal figure in the growth and success of the organisation.
Furthermore, the company has announced that Abhishek Kapoor has resigned from the position of CEO and Executive Director of the Company.
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