Puravankara plans 12–13 mn sq ft of housing launches; homes to start from ₹1.4 crore: CEO Mallanna Sasalu

Puravankara plans to launch residential projects in cities such as Kochi and Coimbatore, alongside ultra-luxury developments in Bengaluru and Mumbai

Published on: Jan 27, 2026, 07:26:16 IST

By Souptik Datta

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Bengaluru-based listed real estate developer Puravankara Ltd plans to develop around 12–13 million sq ft of residential projects, with new launches across Bengaluru, Mumbai, Kochi and Coimbatore. Ticket sizes are expected to start at about ₹1.4–1.5 crore and go up to ₹11–13 crore for ultra-luxury homes, CEO-South, Mallanna Sasalu, told Hindustan Times Real Estate.

Bengaluru-based Puravankara plans to launch 12–13 million sq ft of residential projects across Bengaluru, Mumbai, Kochi and Coimbatore, with homes priced from ₹1.4 crore to ₹13 crore. (File Photo )

The launches will largely comprise high-rise apartments, gated communities and smaller townships. “In Bengaluru, the ₹1–2 crore bracket is now the sweet spot for residential demand, which has effectively become the premium segment,” Sasalu said.

He said the new mid-segment is now in the ₹70 lakh– ₹1.2 crore range. High per-capita incomes and continued migration into the city continue to underpin housing demand, he noted.

The developer has already clocked nearly ₹3,859 crore in pre-sales in the first nine months of FY26, largely from existing projects during the festive season, despite not launching any new projects so far. “All the sales have come from our ongoing projects. We had no launches this year due to regulatory delays, especially in Bengaluru,” Sasalu said, adding that approvals have started improving over the past two quarters.

Also Read: Puravankara acquires 54-acre land parcel in Bengaluru with a GDV of ₹4,800 crore

Ekhata, Greater Bengaluru Authority restructuring caused delays

According to Sasalu, project launches were delayed due to multiple regulatory transitions in Bengaluru, including khata and registration bottlenecks, and the formation of the Greater Bengaluru Authority following the scrapping of the former municipal corporation, Bruhat Bengaluru Mahanagara Palike. While khata and registration linkages remain an issue, the overall approvals process has improved, enabling a gradual revival in launches, he said.

Puravankara expects to bring a launch pipeline of around ₹13,000 crore to market during the current fiscal, with approvals currently underway. Bengaluru will account for the bulk of development at around 8 million sq ft, followed by Kochi with 1.4 million sq ft, Coimbatore with 1.25 million sq ft, and Mumbai with about 1 million sq ft, taking the total to nearly 12–13 million sq ft.

“These launches will largely be high-rise apartment developments, including gated communities with 800–1,200 units,” Sasalu said.

Also Read: Puravankara signs lease agreement with IKEA for over 1.2 lakh sq ft retail space in Bengaluru

Focus on premium, luxury and marquee projects

The company expects average price realisations to rise this year, as most upcoming projects are priced above ₹11,000 per sq ft. While the overall average ticket size will start from about ₹1.4 crore, ultra-luxury homes in Bengaluru and Mumbai could go up to ₹10–11 crore or higher.

In Mumbai, Puravankara is focusing on marquee developments, largely through redevelopment projects. The company has a redevelopment pipeline of about 4.38 million sq ft across five projects, with a potential value of over ₹10,500 crore. Of the two projects initially planned for launch this year, one is expected to go live by the current calendar year.

Strategically, Puravankara will sharpen its luxury positioning under the Puravankara brand, while Provident will focus on large townships and select projects in the outskirts, typically priced around ₹7,500 per sq ft. A new Provident launch is also expected next year, Sasalu added.

ABOUT THE AUTHOR
Souptik Datta
Souptik Datta is a deputy chief content producer at Hindustan Times Digital, where he reports on southern India with a focus on real estate, urban infrastructure and environmental urban issues. His coverage tracks the intersection of policy, capital flows, regulation and sustainability, examining how these forces shape housing markets, commercial real estate and large-scale infrastructure development across rapidly transforming cities. He also closely tracks civic issues affecting urban residents, including property taxation, planning approvals, public transport expansion, water stress, waste management and the governance challenges that influence everyday life in India’s metros. Souptik’s reporting is driven by a strong interest in accountability, consumer rights and the lived realities of homebuyers and investors navigating volatile pricing cycles, regulatory changes and project delivery risks. He frequently analyses project launches, land monetisation strategies, planning frameworks, RERA-related developments and the broader implications of infrastructure investments on emerging growth corridors. His work blends on-ground reporting with data-backed analysis and long-form explainers aimed at demystifying complex real estate and infrastructure developments for readers. He is an alumnus of the Indian Institute of Journalism and New Media. Before joining Hindustan Times Digital, Souptik was associated with Moneycontrol at Network 18, where he covered real estate, infrastructure and allied sectors, producing market insights, policy-led stories and in-depth features. Outside the newsroom, Souptik is an avid solo traveller and documentary enthusiast, exploring diverse regions and visually documenting unique narratives through film and photography. In his early career, Souptik also freelanced as a documentary photographer, independently working on visual storytelling projects that captured grassroots narratives, urban change and everyday life. He can be reached at souptik.datta@htdigital.in.Read More

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