Bengaluru-based real estate major Puravankara Group 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 Rs.3,000 crore.

According to a BSE filing from the company, Kapoor mentioned personal reasons in his resignation letter and stated that his exit would take effect from 9 May at the close of business hours.

The collaboration agreement with KVN Property Holdings LLP signifies the group's ongoing growth in the city. The plot of land offers a total sellable area of about 3.48 million square feet, and the project is anticipated to commence within the upcoming six months. The location advantages include closeness to Kempegowda International Airport, developing job centers, and continuous infrastructure progress.

Ashish Puravankara, managing director, Puravankara Limited says “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 says, “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.