Puravankara soars after buying 53.5-acre land parcel in Bengaluru

Puravankara surged 12.78% to Rs 271.30 after it has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru, with a potential gross development value of over Rs 4,800 crore.

The company said the acquisition aligns with its strategy to expand across key Bengaluru micro-markets, driven by improving infrastructure, enhanced connectivity, and sustained end-user demand for residential housing.

Anekal Taluk has been witnessing increased real estate activity due to its proximity to major employment hubs and upcoming infrastructure developments, making it an attractive destination for residential projects.

Puravankara continues to focus on land acquisitions in high-growth locations to support its long-term development pipeline and reinforce its footprint in core urban markets.

Commenting on the development, Ashish Puravankara, MD, Puravankara, said the acquisition forms part of the companys strategy to systematically add quality developable land to its launch pipeline across strategic micro-markets.

This reflects our disciplined approach to growth with a long-term view for the organisation, and our confidence in the fundamentals of these markets to create large, sustainable communities, he said.

The newly acquired land parcel at Attibele Hobli is strategically located and offers a saleable area of 6.4 million sq ft, with a potential gross development value (GDV) of over Rs 4,800 crore, the company said.

Adding further context, Mallanna Sasalu, CEO South, Puravankara Limited, said the project is located in a micro-market characterised by strong end-user demand and limited availability of developable land.

Prior to 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 crore. The addition of another Rs 4,800 crore takes the potential GDV to Rs 13,900 crore and the developable area to 12.76 million sq ft for the year-to-date, he said.

He further added that earlier this year, the company advanced its Bengaluru expansion plans through strategic acquisitions, including a partnership 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 million sq ft and a potential GDV of over Rs 3,300 crore. This was followed by a joint development of a 5.5-acre parcel in Balegere, East Bengaluru, offering a developable area of 0.85 million sq ft and a potential GDV of over Rs 1,000 crore.

The Puravankara Group is one of India's most trusted realty majors, headquartered in Bengaluru with a pan-India presence. Over the past five decades, the company has established three distinct and successful residential brands Puravankara, Provident Housing (PHL), and Purva Land - catering to the entire spectrum of housing and plotted development needs.

The company reported a consolidated net loss of Rs 41.79 crore in Q2 FY26 as against net loss of Rs 16.78 crore in Q2 FY25. Net sales jumped 30% year on year to Rs 644.20 crore in Q2 FY26.

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