Puravankara up 7% on acquiring Bengaluru land with ₹4,800-cr GDV potential

Puravankara share price gained 7.3 per cent on BSE, logging an intra-day high at ₹258.2 per share. The buying on the counter came after the company acquired 53-acre land parcel in Bengaluru.

 

At 9:17 AM, Puravankara shares were trading 3.7 per cent higher at ₹249.45 per share on BSE. In comparison, the BSE Sensex was flat at 85,570.57. 

 

The company has a total market capitalisation of ₹5,903.84 crore. Its 52-week high was at ₹418, and its 52-week low was at ₹205.05. 

 

“Puravankara Limited, 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 filing read. 

 

 

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, according to the filing.   CATCH STOCK MARKET LIVE UPDATES TODAY

 

The newly acquired land parcel at Attibele Hobli is strategically located and has a saleablearea of 6.4 msft, with a potential gross development value of over ₹4,800 crore.

 

“Earlier this year, we 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 (Gross Development Value) GDV of over ₹3,300 crore, 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 ₹1,000 crore,” said Mallanna Sasalu, CEO - South, Puravankara. 

 

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 successful residential brands – Puravankara, Provident Housing Limited (PHL), and Purva Land - catering to the entire spectrum of housing and plotted development needs. 

 

Besides these residential brands, Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary of Puravankara, focuses on technology-enabled construction solutions. The group has also forayed into developing Grade-A commercial real estate, with a 3 million-square-foot presence, and is rapidly expanding its footprint. Additionally, the interior design arm, Purva Streaks, caters to customers looking for an integrated interior design solution.