Puravankara Share Price Jumps Over 7% After Bengaluru Joint Development Project Announcement

Mumbai, March 10: Share price of Puravankara Ltd moved higher in Tuesday’s trade after the company announced a new residential development in Bengaluru. The stock was trading 7.37% higher at ₹194.41 as of 11:14 AM IST on March 10, 2026, compared with its previous close of ₹181.06. The rise followed the company’s disclosure of a joint development project on Hennur Road with an estimated Gross Development Value (GDV) exceeding ₹1,300 crore, according to an exchange filing dated March 9, 2026.

Why the Share Price Moved

Puravankara Limited said it has entered into a joint development agreement for a 4-acre land parcel on Hennur Road in North Bengaluru, one of the city’s emerging residential corridors. The project carries an estimated GDV of over ₹1,300 crore.

The development is expected to offer around 0.84 million square feet of saleable residential area. According to the company, the move is aligned with its strategy of expanding through asset-light partnerships in high-potential micro-markets where residential demand remains strong.

Commenting on the development, Ashish Puravankara, Managing Director of Puravankara Limited, said Bengaluru continues to remain one of India’s most resilient housing markets, supported by employment growth and infrastructure investment. He noted that North Bengaluru, particularly the Hennur Road corridor, has been witnessing steady demand from homebuyers due to its proximity to Kempegowda International Airport and major technology hubs.

Stock Performance Snapshot

As of 11:14 AM IST on March 10, 2026, Puravankara shares were trading at ₹194.41, up ₹13.35 or 7.37% from the previous close of ₹181.06.

The stock opened at ₹185.04 and touched a high of ₹196.45, and a low of ₹182.05 so far. At the current price, the company’s market capitalisation is around ₹4,620 crore.

Even after the day’s gain, the stock remains below its 52-week high of ₹338.95, while the 52-week low stands at ₹172.65.

What This Means for Investors

The new project adds to Puravankara’s expanding development pipeline in Bengaluru, which remains a key market for the company. Joint development agreements typically allow developers to scale their project portfolio while limiting upfront land acquisition costs.

Mallanna Sasalu, CEO – South, Puravankara Limited, said the company expects to bring the project to market within the next 6–12 months. He added that the development reflects the company’s strategy of strengthening its presence in high-demand residential corridors through capital-efficient partnerships.

Broader Market and Sectoral Context

North Bengaluru has increasingly become a focus area for residential development, supported by infrastructure upgrades, improved connectivity and expanding employment hubs.

Areas along the Hennur Road corridor have seen rising interest from developers in recent years, largely due to their connectivity to Kempegowda International Airport and technology parks across the northern belt of the city. Demand from professionals working in the technology sector has also supported steady housing absorption in the region.

About the Company

Puravankara Limited is a Bengaluru-based real estate developer with operations across nine Indian cities including Bengaluru, Chennai, Hyderabad, Kochi, Mumbai, Pune and Goa.

As of December 31, 2025, the company had completed more than 93 projects covering approximately 56 million square feet. Its residential portfolio spans brands such as Puravankara, Provident Housing Limited, and Purva Land. The group also operates Starworth Infrastructure and Construction Limited, which focuses on technology-enabled construction solutions.

Puravankara reported a land bank of about 38 million square feet, while ongoing projects account for an additional 34 million square feet of development area.

Conclusion

Puravankara’s announcement of a ₹1,300-crore GDV residential project on Hennur Road in Bengaluru has added another development to its pipeline in a key growth corridor. The disclosure triggered a notable rise in the company’s share price during intraday trading on March 10, 2026, so far. Going forward, investors will likely monitor the project’s launch timeline and broader residential demand trends in the North Bengaluru market.

Source:

• https://www.nseindia.com/get-quote/equity/PURVA/Puravankara-Limited
• https://nsearchives.nseindia.com/corporate/PURVA_09032026091352_SEintimation.pdf