New Delhi, May 12 -- Shares of real estate developer Puravankara surged 10 percent in intra-day trading on Monday, May 12, following the announcement of a new joint venture with KVN Property Holdings LLP. The partnership aims to develop a 24.59-acre land parcel in North Bengaluru with an estimated Gross Development Value (GDV) exceeding Rs.3,300 crore, the company said in a regulatory filing.

The proposed project will offer a total saleable area of approximately 3.48 million sq. ft., and is slated for launch within the next six months.

Commenting on the development, Ashish Puravankara, Managing Director, said, "This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong...