Puravankara Plans Housing Launches Across Key Cities; Key Highlights
- Ambitious Launches: Puravankara plans 12–13 million sq ft of residential projects in Bengaluru, Mumbai, Kochi, and Coimbatore, focusing on high-end, luxury, and ultra-luxury homes starting from ₹1.4 crore.
- Bengaluru Market Shift: ₹1–2 crore now considered premium; mid-segment redefined to ₹70 lakh–₹1.2 crore due to rising incomes and tech hub migration.
- Strong Sales Despite Delays: Pre-sales of ₹3,859 crore in FY26 (first nine months) achieved through existing projects despite regulatory and administrative bottlenecks.
- Mumbai Redevelopment Focus: High-profile redevelopment projects (~4.38 million sq ft across 5 projects) targeting luxury segment; total launch pipeline valued at ~₹13,000 crore.
- Brand & Strategy: Puravankara brand positioned as luxury; Provident Housing focuses on large-format townships (~₹7,500 per sq ft); trend reflects demand for bigger, aspirational homes.
Puravankara Ltd, a Bangalore, based stock market, listed real estate company, is planning a very ambitious expansion of the residential segment by unveiling 12, 13 million sq ft of residential housing projects in top Indian cities, including Bengaluru, Mumbai, Kochi, and Coimbatore, the company's senior executives shared.
The company's residential real estate projects, which are underway, will largely focus on segments of the high, end, luxury, and ultra, luxury with unit prices starting from 1.4, 1.5 crore to 11, 13 crore.
CEO, South, Puravankara Ltd, Mallanna Sasalu, gave an account of how the housing market in Bangalore is witnessing a change in the pattern of consumer preferences over time. “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 added that the traditional definition of mid-income housing has also shifted upward.
“The new mid-segment is now in the ₹70 lakh–₹1.2 crore range,” he said, pointing to rising per-capita incomes and sustained migration into India’s technology hubs as key demand drivers.
Despite the regulatory issues that resulted in the non-launch of new projects during the year, Puravankara has shown strong sales in FY26.
- The company has registered almost ₹3,859 crore in pre-sales during the first nine months of FY26.
- The sales were generated solely through the existing projects, especially during the festive season.
As per the company, the timelines for launches were affected by several administrative transitions in Bengaluru, such as khata and registration bottlenecks, and the restructuring of the governance framework in Bengaluru due to the creation of the Greater Bengaluru Authority.
Although the issue of khata and registration linkages continues, Sasalu stated that the approvals environment has started to stabilize over the last two quarters, which will help in the revival of launches.
Puravankara expects to bring a launch pipeline of around ₹13,000 crore to market during the current financial year, with approvals currently underway.
The city-wise breakup of the proposed 12–13 million sq ft launch pipeline includes:
- Bengaluru: ~8 million sq ft
- Kochi: ~1.4 million sq ft
- Coimbatore: ~1.25 million sq ft
- Mumbai: ~1 million sq ft
“These launches will largely be high-rise apartment developments, including gated communities with 800–1,200 units,” Sasalu said.
Most of the new projects will be priced at more than 11, 000 per sq ft, which will result in the average selling price going up. While the entry, level units will be priced starting from around 1.4 crore, the ultra, luxury segments in Bengaluru and Mumbai are anticipated to be significantly more expensive.
Mumbai redevelopment, brand, led strategyIn Mumbai, Puravankara is concentrating on high, profile projects mainly through redevelopment schemes.
The company has a redevelopment pipeline of around 4.38 million sq ft in five projects, with a potential for development of over ₹10,500 crore. The second of the two upcoming redevelopment launches is expected to happen later this year.
Strategy-wise, the Puravankara brand will concentrate on the luxury segment, while Provident Housing will concentrate on large-format townships and peripheral projects, mainly in the ₹7,500 per sq ft segment. A new Provident project is also scheduled to be launched next year.
Mumbai's redevelopment potential
According to Knight Frank India's report, in September 2025, the redevelopment segment is expected to bring 44, 277 residential units worth 1.30 lakh crore to Mumbai's real estate market by 2030. Stamp duty and Goods and Services Tax (GST) from the free, sale component of society redevelopments are estimated to be around 7, 830 crore and 6, 525 crore, respectively.
The report reveals that 910 housing societies have entered into development agreements (DAs) since 2020, unveiling nearly 326.8 acres (1.32 million sq m) of potential land area within Mumbai based on Floor Space Index (FSI) norms and the average unit sizes across various regions. The report had highlighted that Borivali, Andheri, and Bandra micro markets were the leading three redevelopment locations with a cumulative area of over 139 acres.
Purvankara's growth strategies demonstrate the fundamental change in India's urban housing market towards bigger homes and aspirational lifestyles as approvals are steadily getting better and demand in the premium and luxury segments continues to be strong.
Image source- puravankara.com
