Leadership Shift at Puravankara Group as CEO Abhishek Kapoor Steps Down; Announces ₹3,000 Cr Joint Venture in North Bengaluru

May 10, 2025
Leadership Shift at Puravankara Group as CEO Abhishek Kapoor Steps Down; Announces ₹3,000 Cr Joint Venture in North Bengaluru

Puravankara Group, one of India’s leading real estate developers, has announced a significant leadership transition alongside a strategic expansion in the high-growth North Bengaluru corridor. Abhishek Kapoor, who served as the CEO and Executive Director, has officially stepped down from his role, citing personal reasons. His resignation will take effect on May 9, 2025, at the close of business hours, according to a filing with the Bombay Stock Exchange (BSE).


Key Highlights:

  1. Abhishek Kapoor resigns as CEO & Executive Director of Puravankara Group
  2. Mallanna Sasalu appointed as the new CEO – South, Puravankara Ltd
  3. ₹3,000 Cr joint development project announced in North Bengaluru
  4. 3.48 million sq. ft. of saleable area near Kempegowda International Airport
  5. Launch expected in the next 6–9 months


Leadership Transition: Abhishek Kapoor Steps Down

Kapoor’s tenure at Puravankara saw pivotal developments and strategic growth across residential and commercial verticals. While the company did not specify further details, his decision to resign was attributed to “personal reasons.” With this exit, Mallanna Sasalu steps into the spotlight as the new CEO of Puravankara Ltd – South, bringing fresh leadership and a continued focus on the group's expansion strategy.


Strategic Expansion in North Bengaluru

Coinciding with the leadership change, Puravankara also announced a landmark joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru. With a Gross Development Value (GDV) of ₹3,000 crore, this upcoming residential development will significantly add to the group's already robust portfolio in the region.


The land parcel offers approximately 3.48 million sq. ft. of saleable area, and the project is expected to be launched within the next 6 to 9 months. Strategically located, the site benefits from its proximity to Kempegowda International Airport, emerging IT and business hubs, and ongoing infrastructure projects, making it an ideal choice for urban homebuyers and investors alike.


Strong Focus on North Bengaluru Real Estate Growth


Commenting on the joint venture, Ashish Puravankara, Managing Director of Puravankara Ltd, said:

“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.”

Echoing this sentiment, Mallanna Sasalu, the newly appointed CEO – South, added:

“North Bengaluru continues 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 developments in this micro-market.”


Competitive Market Landscape


Puravankara’s latest move reinforces its competitive edge in the Bengaluru real estate market, where it contends with other prominent developers like Prestige Group, Brigade Enterprises, and Sobha Ltd. Apart from residential ventures, the company is making substantial strides in the Grade-A commercial space, with an operational footprint of over 3 million sq. ft. and expanding.


The dual announcement of a leadership change and a high-value real estate project positions Puravankara for a new growth phase. As North Bengaluru continues to emerge as a hotspot for real estate investments due to superior connectivity and rapid infrastructure development, this new project is poised to capture strong demand from both end-users and investors.


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