Puravankara’s big bang Kochi launch part of a 15 msf development pipeline

Puravankara’s big bang Kochi launch part of a 15 msf development pipeline

Bengaluru-based realty firm Puravankara is set to launch a residential project in Kochi this year with a development potential of 1.4 million sq ft (msf) in the first phase. Another 0.6 msf may be developed in phase two, making it one of largest launches by Puravankara in FY26, the company's CEO (South), Mallanna Sasalu, told Moneycontrol.

The Kochi project is part of a broader pan-India pipeline of approximately 15 msf  to be built over the next 6–18 months, with a projected gross development value (GDV) of ₹18,000 crore and planned investments exceeding ₹11,000 crore.

About 60–75 percent of the pipeline is concentrated in the south; cities like Bengaluru, Kochi, Chennai, Hyderabad, Coimbatore, and Goa are expected to see the bulk of  the development.

Kochi is a key market, with the 1.4 msf launch backed by land already owned by the developer.

In Bengaluru, between six and seven medium-to-large residential projects are currently undergoing regulatory approval. “We’ve got six-seven launches in Bengaluru alone this year,” Sasalu said, adding that demand remains healthy despite regulatory delays.

While bookings rose 6 percent to ₹1,124 crore in the April–June quarter of FY26, up from ₹1,064 crore in the same period last year, sales volumes declined slightly to 1.25 msf from 1.29 msf. The average price realisation increased to ₹8,988 per sq ft, up from ₹8,246 per sq ft a year ago.

Sasalu attributed the volume dip to delays in new launches, particularly in Bengaluru. “This e-khata and digitisation has pushed us back a little bit,” he said. However, he added that the sales of previous projects have remained robust.

Since inception, Puravankara has delivered over 90 projects covering approximately 53 msf across nine cities -- Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.

The company is also expanding in Chennai with nearly 200 acres of plotted development and 9,000 units under construction. In Hyderabad, around 2,000 units are nearing completion, with further land acquisitions underway. In Goa, the company is completing what it says is its largest residential project in the state, with 2,000 units, most of which have been sold.

On the commercial side, Puravankara has around 3.17 msf under development. Key projects include Purva Aerocity (2.2 msf) in Kadiganahalli, Bengaluru, and Purva Zentech Park (0.97 msf) on Kanakapura Road. The company expects nearly 2 msf of commercial space to receive occupancy certificates in FY26.

Looking ahead, Sasalu expects demand to remain healthy despite possible moderation in price growth. “The rate of growth in prices may moderate a little bit. But I am confident that demand will continue over the next three to five years”