Land Deals
Puravankara signs JDA for 12.76-acre Sathanur land, GDV Rs 2,500 crore
Puravankara Limited has signed a joint development agreement (JDA) for a 12.76-acre land parcel in Sathanur, North Bengaluru, with an estimated gross development value (GDV) of Rs 2,500 crore. The company announced the deal on 12 October 2026. No launch date, price or RERA registration for the project has been reported.
| Announced | 12 October 2026 (Monday), via the company's exchange filing |
|---|---|
| Location | Sathanur, North Bengaluru |
| Land area | 12.76 acres |
| Estimated GDV | Rs 2,500 crore |
| Saleable area (approx.) | 1.90 million sq ft, residential use |
| Deal structure | Joint development agreement; development rights are secured through a partner arrangement |
| Not reported | Project name, unit count, price per sq ft, launch date, RERA number, landowner or JDA partner name, consideration amount |
What happened
On 12 October 2026, Puravankara Limited announced that it had signed a joint development agreement for a 12.76-acre land parcel in Sathanur, in North Bengaluru. The company's exchange filing put the estimated gross development value at Rs 2,500 crore. Press coverage of the announcement, including the ANI release carried by Business Standard and the PTI report carried by The Wire, used the same figures.
A JDA is an arrangement in which the developer obtains rights to build on a piece of land, usually in return for a share of the completed project or a fixed payment to the landowner. Under this structure the developer is not described as buying the land outright. The filing and the coverage do not name the landowner or the partner, and they do not state the consideration.
The numbers
| Item | Figure reported |
|---|---|
| Land area | 12.76 acres |
| Estimated GDV | Rs 2,500 crore |
| Saleable area | About 1.90 million sq ft |
| Development type | Residential |
GDV is an estimate of the total sales value a project could generate. It is not a price list, and it is not a measure of profit. Some coverage described the figure as the sales the project could generate, but the company's filing uses the GDV label, and this article does the same.
Who is involved
Ashish Puravankara, Managing Director, said the company's focus remains on strengthening its development pipeline through strategic land additions that offer scale, strong market potential and visibility for future growth. He also said the company continues to evaluate opportunities across key markets with a disciplined approach to capital allocation.
Mallanna Sasalu, CEO-South, said the 12.76-acre parcel offers an opportunity to develop a sizeable residential project with about 1.90 million sq ft of saleable area. He said Bengaluru continues to see healthy end-user demand, and that the company's priorities for the project are product quality, timely approvals and efficient execution.
These are management statements. No independent data on Bengaluru demand was found in the reporting used for this article.
Location context
Sathanur is in North Bengaluru, on the northern side of the city. Local road access is described through Bagalur Main Road, Bellahalli Main Road, Bellary Road, New Airport Road and Budigere Main Road. Available listing and locality pages report that the area has no metro station at present, and that a proposed Bagalur metro station appears only in developer marketing material, not in a sanctioned plan.
Distances to Kempegowda International Airport and Yelahanka Junction vary across the sources reviewed, so this article does not state them. Readers who need them should check current route data.
Market reaction
Puravankara's shares rose on the day of the announcement. Market reports differed on the size of the move: some described it as about 2%, and one reported a 1.56% gain with the stock at Rs 210.50 at 12:58 pm IST. This article does not give a closing figure because none was confirmed in the sources reviewed. No analyst rating or target for the stock tied to this deal was found.
What it changes for buyers, investors and the market
Home buyers: The deal does not create units that can be bought yet. No project name, launch date, price or RERA registration has been reported for the Sathanur parcel.
Investors: The deal adds to the company's residential pipeline in Bengaluru. Puravankara has a significant share of its land bank and new additions in the Bengaluru market, so this addition increases that concentration. The reporting also notes that the sector faces inherent risks, including possible delays in project approvals.
Local market: A 1.90 million sq ft residential project would be a sizeable addition to North Bengaluru supply if it proceeds. Timing and scale depend on approvals and the company's construction plans, none of which have been announced.
Puravankara's recent activity
Puravankara reported pre-sales of Rs 1,439 crore for Q1 FY27, up 28% year on year, according to Business Standard's coverage of its quarterly results. The company has also added several land parcels in FY27, including a JDA for a 6.4-acre site in Sarjapur (June 2026, estimated GDV Rs 1,000 crore) and a 9.73-acre parcel in Sanna Ammanikere (estimated GDV Rs 800 crore; exact date not confirmed). Earlier, in May 2025, the company announced a joint venture with KVN Property Holdings LLP for a 24.59-acre parcel in North Bengaluru, which Business Standard reported with a developable area of 3.48 million sq ft.
What happens next
No timeline has been reported for the Sathanur project. The following have not been announced: a launch date, approval timeline, construction start, or RERA filing. The company's stated priorities are product quality, timely approvals and efficient execution. The date of the next operational update or quarterly results was not confirmed in the sources reviewed.
Readers should treat the Rs 2,500 crore figure as the company's estimate. Changes in approvals, project design or market conditions could change the scale and timing of the project.
Frequently asked questions
Did Puravankara buy the Sathanur land outright?
The reports describe a joint development agreement, which secures development rights through a partner arrangement. They do not describe an outright purchase. The landowner and the partner are not named in the reporting, and the consideration was not disclosed.
What does Rs 2,500 crore GDV mean?
GDV, or gross development value, is the estimated total sales value of a project once built. It is an estimate by the developer and is not a price list or a profit figure.
How big is the project?
The land is 12.76 acres. The estimated saleable area is about 1.90 million sq ft of residential space. The number of units has not been reported.
When will homes at Sathanur go on sale?
No launch date has been reported. No RERA registration for this parcel has been found in the sources reviewed.
Is there a metro near Sathanur?
Available locality sources report that the area currently has no metro station. A proposed Bagalur metro station appears only in developer marketing material and is not confirmed as sanctioned.
How did the share price react?
Shares rose on the announcement day. Reports differ on the size of the gain, from about 2% to 1.56% intraday, so no single closing figure is given here.
Sources
- Puravankara Signs JDA for 12.76-acre Sathanur Land, GDV Rs 2,500 crore - Puravankara Limited
- Puravankara Signs JDA for 12.76-acre Land Parcel in Sathanur, Bengaluru (ANI press release) - Business Standard
- Puravankara inks JDA for 12.76-acre land parcel in Sathanur, Bengaluru - Construction Week India
- Puravankara's Q1 FY27 pre-sales rise 28% to ₹1,439 crore on higher demand - Business Standard