Puravankara announces acquisition of 53-acre land parcel in Bengaluru with GDV of over Rs 4,800 crores

VMPL

Bengaluru (Karnataka) [India], December 23: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted real estate developers, has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru, further strengthening its presence in one of the city's emerging residential growth corridors. The acquisition is aligned with the company's strategy to expand across Bengaluru micro-markets, supported by improved infrastructure, strong connectivity, and sustained end-user demand.

Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, "This acquisition is part of our ongoing efforts to systematically add quality developable land to our launch pipeline across strategic micro-markets. This reflects our disciplined approach to growth with a long-term view for the organisation, and also confidence in the fundamentals of these markets to create large, sustainable communities."

The newly acquired land parcel at Attibele Hobli is strategically located and has a saleable area of 6.4 msft, with a potential gross development value of over Rs 4,800 crores.

Adding further context, Mallanna Sasalu, CEO - South, Puravankara Limited, said, "The project is located in a micro-market marked by strong end-user demand and limited availability of developable land. Before this acquisition, during H1 FY26, we added a total of 6.36 million sq ft of developable area in Bengaluru and Mumbai, with an estimated gross development value of Rs 9,100 crores. The addition of another Rs 4,800 crores brings the potential GDV to Rs 13,900 crores and the developable area to 12.76 msft for the year to date."

"Earlier this year, we also advanced our Bengaluru growth plans through strategic acquisitions. This includes partnering with KVN Property Holdings LLP for a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru, with a developable area of 3.48 msft and a potential GDV of over Rs 3,300 crores, as well as a joint development for a 5.5-acre parcel in Balegere, East Bengaluru, with a developable area of 0.85 msft and a potential GDV of over Rs 1,000 crores," he further added.

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