Puravankara Partners in Rs 1100 Crore Housing Venture in Bengaluru

Puravankara Ltd, a prominent real estate firm, has struck a joint development agreement for a new housing project in Bengaluru, expected to generate revenues of Rs 1,100 crore. The venture involves a significant 11.23-acre land parcel in Doddagubbi, located in North Bengaluru.

The construction will cover a substantial developable area of 0.74 million sq ft. Despite disclosing the project's revenue potential, Puravankara has yet to reveal the total investment required. This expansion comes after recording a net profit of Rs 56.75 crore last fiscal, reversing a previous year's loss. The company has expanded its portfolio across major cities, with ongoing projects across 36.69 million sq ft.

(With inputs from agencies.)