Explore Business Standard
Realty firm Puravankara Ltd has given on lease around 1.2 lakh sq ft retail space to Swedish furniture retailer IKEA in Bengaluru. In a regulatory filing on Monday, the company informed that it has signed an Agreement to Lease (ATL) with IKEA India for leasing of two floors of retail space at the Purva Zentech Park, located on Kanakapura Road, Bengaluru. The project is a mixed-use commercial development with about 9.6 lakh square feet of leasable and saleable area. The project is currently under construction and is slated for completion by early 2026. IKEA India will occupy retail space of more than 1.2 lakh square feet of leasable area across two floors, it said. Real estate consultant Colliers' office services team was the advisor on this transaction. As of September 30, 2025, Puravankara has completed 93 projects totalling 55 million sq ft across nine citiesBengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
Realty firm Puravankara Ltd's sales bookings rose per cent to Rs 1,124 crore in the first quarter of this fiscal year on higher price realisation. In a regulatory filing on Friday, the company said it achieved sales value of Rs 1,124 crore for April-June quarter as against Rs 1,064 crore in the year-ago period. Sales volume dipped to 1.25 million sq ft from 1.29 million sq ft. However, the average price realisation increased to Rs 8,988 per sq ft from Rs 8,246 per sq ft. Puravankara has completed more than 90 projects measuring around 53 million sq ft across nine cities -- Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company has a land bank of 25 million sq ft and ongoing projects add up to 37 million sq ft.
Real estate company Puravankara Ltd on Monday reported a 2 per cent increase in its sales bookings to Rs 1,265 crore for the latest December quarter on high demand for homes during festivals. Its sales bookings stood at Rs 1,241 crore in the year-ago period. Puravankara Managing Director Ashish Puravankara said, "The growth in collections is a clear reflection of our strong operational efficiency. In the first nine months of this fiscal, we achieved collections of Rs 2,991 crore, a 19 per cent year-on-year increase". "Keeping in line with our acquisition strategy and our growth plans for the current and next financial year, we have invested approximately Rs 1,100 crore this fiscal, adding a potential GDV of around Rs 10,500 crore," he added. Bengaluru-based Puravankara Ltd is one of the leading real estate developers in the country.