Puravankara to invest ₹7,000 cr in new housing projects across India

Bengaluru-based real estate developer Puravankara will invest over Rs 7,000 crore over the next few years in new residential project launches that are expected to generate Rs 15,000 crore in sales, said Mallanna Sasalu, chief executive officer (CEO) – South, Puravankara.

The company aims to sustain a gross margin of 28–30 per cent on project sales, backed by robust demand in the mid-income and premium housing segments. “We are seeing consistent traction across key southern markets such as Bengaluru, Chennai, and Hyderabad, along with growing interest in Pune and Mumbai. The upcoming launches are expected to consolidate our presence in these regions,” Sasalu told Business Standard.

What are Puravankara’s new project and revenue targets?

Puravankara, which currently clocks quarterly revenues of Rs 1,200–1,300 crore from existing projects, expects the new launches to significantly boost its topline in FY26 and beyond. The developer plans to roll out several large-scale residential projects across its three brands — Puravankara (premium housing), Provident (affordable housing), and Purva Land (plotted developments) — in line with rising end-user and investor demand.

Over the next few quarters, the company is expected to announce new projects spanning 12–14 million square feet across 11 developments in Bengaluru, Kochi, and Coimbatore.

How is Puravankara positioning for sustained growth?

Sasalu added that the company’s strategic pipeline aims to capitalise on India’s buoyant housing demand. “With affordability levels stable and demand led by genuine homebuyers, we are confident of maintaining growth momentum and profitability in the coming years,” he said.

Around 50 per cent of Puravankara’s portfolio is concentrated in Bengaluru, with Mumbai and Pune together accounting for about 20 per cent. However, Sasalu expects a significant rise in the contribution from western markets over the next three to five years, driven by the growing pipeline of redevelopment projects and higher per-square-foot realisations in Mumbai.

What growth does the company expect from western markets?

“Even with smaller project sizes compared to Bengaluru, the value of sales in Mumbai and Pune can be substantially higher because of premium pricing, often ranging from Rs 75,000 to Rs 1.5 lakh per square foot,” Sasalu said. While declining to specify a target, he added that the share from these two markets could “grow meaningfully, possibly reaching 30–40 per cent in the next few years,” reflecting Puravankara’s expanding presence beyond its southern foothold.

How extensive is Puravankara’s project portfolio?

Currently, Puravankara has completed 93 projects totalling 55 million square feet across nine cities — Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company’s total land bank stands at about 32 million square feet, while ongoing projects add up to 34 million square feet.