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Puravankara shares gained more than 2% after the real estate developer announced the acquisition of a 9.73-acre land parcel in North Bengaluru’s rapidly expanding airport corridor. The project is expected to generate a Gross Development Value (GDV) of approximately ₹800 crore and offers a development potential of around 0.89 million square feet.
The acquired land is located in Sanna Ammanikere within the Devanahalli growth corridor, one of Bengaluru’s most sought-after real estate destinations. The location enjoys strong connectivity to Kempegowda International Airport and is supported by key infrastructure developments such as the Airport Metro and the Satellite Town Ring Road, enhancing its long-term growth prospects.
The acquisition aligns with Puravankara’s strategy of expanding its footprint in high-growth micro-markets across Bengaluru through a combination of outright land acquisitions and capital-efficient partnerships. The company plans to develop a premium residential project on the site to cater to increasing demand for quality housing in North Bengaluru.
Commenting on the development, Ashish Puravankara, Managing Director of Puravankara Limited, said the acquisition underscores the company’s confidence in the long-term potential of North Bengaluru. He noted that the region continues to attract homebuyers due to its improving infrastructure, strong economic fundamentals, and growing employment opportunities.
Mallanna Sasalu, CEO – South, Puravankara Limited, highlighted that North Bengaluru is witnessing robust employment-driven growth across sectors such as technology, aerospace, logistics, and commercial businesses. He added that the upcoming residential project will offer modern amenities, well-planned living spaces, and excellent connectivity to key parts of the city.
The latest acquisition further strengthens Puravankara’s land bank and reinforces its growth strategy as the company continues to capitalize on rising residential demand in Bengaluru’s emerging corridors.
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