Real estate major Puravankara Group's CEO Abhishek Kapoor steps down

Abhishek Kapoor resigns as CEO of Puravankara; group signs JV for 24.59-acre land in North Bengaluru with 3.48 mn sq ft saleable area and ₹3,000 crore development value

Bengaluru-based real estate major Puravankara Group on Friday announced the resignation of Abhishek Kapoor from the position of chief executive officer and executive director of the group. In parallel, the company unveiled a joint venture to develop a 24.59-acre land parcel in North Bengaluru, with a gross development value (GDV) of ₹3,000 crore.

 

As per a BSE filing by the company, Kapoor cited “personal reasons” in his resignation letter and noted that his departure would be effective from 9 May, close of business hours.

 

The joint development agreement with KVN Property Holdings LLP marks the group’s continued expansion in the city. The land parcel has a total saleable area of approximately 3.48 million square feet, and the project is expected to launch within the next six months. The site benefits from proximity to Kempegowda International Airport, emerging employment hubs, and ongoing infrastructure development.

 

 

Ashish Puravankara, managing director, Puravankara Limited, said: “This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction. The scale, location, and partnership model of this project position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers. It aligns with our broader vision of creating high-quality, community-focused housing across emerging corridors.”

 

Mallanna Sasalu, newly appointed CEO of Puravankara Ltd – South, said that North Bengaluru continued to attract discerning homebuyers, driven by infrastructure upgrades and connectivity to key economic hubs. “This project is conceived on the back of the successes of our previous projects, which validates this joint venture development in this micro-market. The project is expected to come to market in 6–9 months, and we are confident it will be a great addition to our impressive portfolio.”

 

Puravankara competes with other real estate majors such as Prestige, Brigade, and Sobha in the Bengaluru market. The group has also forayed into developing Grade-A commercial real estate, with a presence of 3 million square feet, and is expanding its footprint rapidly.