Puravankara leases prime retail space to IKEA in Bengaluru

Puravankara Limited has signed an Agreement to Lease with IKEA India for two floors of retail space at its Purva Zentech Park in Bengaluru. This mixed-use commercial development, located on Kanakapura Road, features approximately 9.6 lakh square feet of leasable and saleable area and is slated for completion by early 2026. IKEA is expected to occupy the first and second floors, with space handover in Q1 2026 and operations commencing thereafter.

This move is a strong endorsement for Purva Zentech Park, which is strategically located near the Konankunte Metro Station and Forum Mall. The project, an IGBC Gold development, is designed to accommodate various tenants. Puravankara projects, including Purva Zentech and Purva Aerocity, are anticipated to generate a surplus of INR 1,870 crore, strengthening the company’s commercial real estate portfolio in South Bengaluru's high-growth corridor.

As of September 30, 2025, Puravankara has completed 93 projects totaling approximately 55 million sq ft across nine Indian cities. The company holds a total land bank of approximately 32 msft, with ongoing projects adding up to approximately 34msft.