It depends on how you define $r$. If $r$ is the length of the arc on the sphere, then your area is still $\pi r^2$. If $r$ is the radius in the plane, you need to calculate the length of the arc given by a point on the circle, and the intersection between the sphere and the line that goes through the center of the sphere and the center of the circle. For the radius of the sphere $d$, the arc length id $d\theta$, where $\sin(\theta)=r/d$. The area of the "circle" is then $\pi d^2 \theta^2$
My mistake. Here is the solution:
Suppose you call $r$ the length of the arc along the sphere, and $x$ the radius in the plane. At a position $l$ along the arc, $x=d\sin(\theta)$, where $\theta=l/d$. A small strip on the sphere of width $dl$ has area $2\pi x dl$. Then
$$A=2\pi d\int_0^l dl \sin(l/d)=2\pi d^2\int_0^{l/d} dy \sin(y)=2\pi d^2(1-\cos(l/d))$$
For $l=\pi d$, $\cos(\pi)=-1$, so $A=4\pi d^2$
For $d\rightarrow \infty$, we should recover the plane geometry. $\cos(l/d)\approx1-l^2/d^2/2$, so $A=\pi l^2$