Puravankara plans 30-project launch pipeline worth ₹55,000 crore

Co mulling data centres foray; West Asian conflict driving up demand in India, say executives

Bengaluru-based real estate developer Puravankara Limited has outlined an aggressive expansion plan, targeting the launch of 30 projects over the next two years, with a pipeline spanning 51.14 million square feet (sq ft) and an estimated gross development value (GDV) of over ₹55,000 crore. The bulk of these developments will be concentrated in South India and Mumbai, company executives said on Wednesday.

 

A significant portion of the upcoming projects is in the approval stage, while the rest are in advanced design phases, with clearances expected to be initiated shortly. The planned rollout is backed by a strong land bank and a calibrated capital allocation strategy. 

 

Managing Director (MD) Ashish Puravankara told Business Standard that the company is exploring new growth avenues. He indicated that entry into the data centre segment is on the cards, having studied the asset class earlier. “We see the timing as more favourable now,” he said. In parallel, the developer is preparing to tap into the Delhi–National Capital Region (Delhi-NCR) market in the coming months, expanding beyond its current strongholds in the South and West. 

Puravankara noted that the ongoing West Asian conflict is unlikely to pose a significant burden on construction costs, while adding that non-resident Indians (NRIs) from Gulf countries are increasingly showing interest in property purchases in India.

 

Mallanna Sasalu, Chief Executive Officer (CEO) – South for Puravankara, said that the company’s near-term pipeline alone, valued at ₹35,636 crore, translates to roughly 33 million square feet of launches over the next 30 months. Of this, around 25 million square feet will be concentrated in southern markets, with the remainder in the West, where higher realisations, particularly in Mumbai, drive value.

 

Sasalu noted that nearly 70 to 75 per cent of project costs, largely land, have already been incurred, reducing execution risk for upcoming launches. “The land is largely secured, and what remains is design, approvals, and phased execution,” he added, noting that construction funding is supported through internal accruals, customer advances, and institutional partnerships.

 

The developer currently has a launch inventory of ₹19,742 crore (a mix of residential and commercial) already under execution, alongside its future pipeline, scheduled for delivery over the next four to five years. Commercial development remains a smaller but growing segment, with 2 million square feet (already built and additional approvals in progress).

 

On the broader market outlook, Sasalu expects residential prices to continue rising, albeit at a more moderate pace than in recent years. “While the 15–20 per cent growth seen earlier may not sustain, price appreciation should continue to outpace inflation,” he said, pegging expected annual increases at over 8 per cent.