Puravankara Acquires Bengaluru Land With ₹800 Crore GDV Potential; Shares Rise 2%

Mumbai, June 17: Puravankara has acquired a 9.73-acre land parcel in North Bengaluru’s fast-growing airport corridor, a move that could generate an estimated gross development value (GDV) of about ₹800 crore, according to a company announcement.

The outright acquisition is located at Sanna Ammanikere in the Devanahalli growth corridor, one of Bengaluru’s most active residential development zones. The project has a development potential of nearly 0.89 million square feet and is expected to cater to rising housing demand in the northern part of the city.

The latest acquisition is part of Puravankara’s broader strategy to strengthen its presence in high-growth micro-markets through a combination of outright purchases and capital-efficient development partnerships.

Management believes the location is well positioned to benefit from sustained infrastructure investments around Kempegowda International Airport, including the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City developments.

Ashish Puravankara, Managing Director of Puravankara Ltd, said the acquisition reflects the company’s confidence in Bengaluru’s long-term residential demand and its focus on building a strong future project pipeline.

The company noted that the upcoming development will target homebuyers looking for well-connected residential communities in emerging growth corridors.

Stock Market Snapshot

Puravankara share price traded higher in early deals after the company announced the acquisition.

As of 9:32 AM IST on June 17, 2026, shares of Puravankara Ltd were trading at ₹219.50 on the NSE, up ₹4.76 or 2.22% from the previous close.

The stock gained momentum shortly after the opening bell as investors reacted positively to the addition of a sizeable development opportunity in one of Bengaluru’s strongest real estate markets.

The Puravankara share price has remained in focus amid the company’s aggressive business development efforts and expanding project pipeline across key residential markets.

Bengaluru Continues to Drive Residential Expansion Plans

North Bengaluru has emerged as one of the country’s fastest-growing real estate destinations, supported by infrastructure upgrades, employment growth and proximity to the international airport.

Puravankara said the Devanahalli corridor continues to attract demand from homebuyers due to improving connectivity and the steady expansion of technology, aerospace, logistics and commercial hubs.

The acquisition also follows a series of recent business development initiatives by the company across Bengaluru, including projects in Hennur Road, Mandur and Doddaballapur.

For developers, land acquisitions in established growth corridors provide long-term visibility over future launches and revenue generation, particularly as housing demand remains resilient in major metropolitan markets.

Company Background

Puravankara is one of India’s leading real estate developers with a presence across multiple residential and commercial segments.

As of March 31, 2026, the company had completed 95 projects covering around 57 million square feet across nine cities. Its land bank stands at approximately 40 million square feet, while ongoing projects account for about 36.69 million square feet.

The company operates through brands catering to different housing segments and continues to expand its footprint through strategic land acquisitions and joint development agreements.

Conclusion

The acquisition of the 9.73-acre North Bengaluru land parcel adds another sizeable development opportunity to Puravankara’s pipeline and reinforces its focus on high-growth residential markets.

With an estimated GDV potential of ₹800 crore and strong infrastructure-led demand drivers in the Devanahalli corridor, the project is expected to support the company’s future launch pipeline and strengthen its position in Bengaluru, its largest and most important market.

Source:

• https://www.nseindia.com/get-quote/equity/PURVA/Puravankara-Limited
• https://nsearchives.nseindia.com/corporate/PURVA_17062026091624_SEintimation.pdf