Puravankara shares rally 13% after ₹4,800 crore GDV Bengaluru land deal

Shares of Puravankara Ltd. were trading over 13% higher on Tuesday, December 23, after the real estate developer announced the acquisition of a 53.5-acre land parcel in Anekal Taluk, Bengaluru, strengthening its presence in one of the city's emerging residential growth corridors.

The acquisition aligns with the company's strategy to expand across key Bengaluru micro-markets, backed by improved infrastructure, strong connectivity and sustained end-user demand, Puravankara said in an exchange filing.



"This acquisition is part of our ongoing efforts to systematically add quality developable land to our launch pipeline across strategic micro-markets. It 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," the company said.

The newly acquired land parcel at Attibele Hobli has a saleable area of 6.4 msft and a potential gross development value of over ₹4,800 crore.

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

He added that during H1 FY26, the company had added a total of 6.36 million sq ft of developable area across Bengaluru and Mumbai, with an estimated gross development value of ₹9,100 crore.

"With the addition of this project, the potential GDV for the year to date rises to ₹13,900 crore, while the total developable area increases to 12.76 msft," Sasalu said.

Earlier this year, Puravankara also advanced its Bengaluru growth plans through other strategic acquisitions.

These include a partnership with KVN Property Holdings LLP for a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru, offering a developable area of 3.48 msft and a potential GDV of over ₹3,300 crore, as well as a joint development of 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.