VMPL
Bengaluru (Karnataka) [India], June 17: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has acquired a 9.73-acre land parcel at Sanna Ammanikere in North Bengaluru's fast-developing airport corridor. The outright acquisition has a development potential of approximately 0.89 million sq ft, with an estimated gross development value (GDV) of ₹800 crore.
The acquisition reinforces Puravankara's strategy of strengthening its presence across high-growth Bengaluru micro-markets through a balanced mix of outright purchases and capital-efficient partnerships. The upcoming residential development will cater to the growing demand for thoughtfully designed homes in well-connected urban growth corridors.
Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, "Bengaluru continues to be at the centre of India's residential growth story, supported by a strong economic base, expanding infrastructure and sustained end-user demand. This acquisition reflects our conviction in the long-term potential of North Bengaluru and our focus on securing high-quality land parcels in strategic corridors. As we enter our next phase of growth, we will continue to build a strong development pipeline through disciplined capital allocation, faster turnaround from acquisition to launch, and projects that respond to the evolving aspirations of today's homebuyers."
The land parcel is located in the Devanahalli growth corridor, with connectivity to Kempegowda International Airport and access to key employment hubs. The region continues to benefit from the northward expansion of Bengaluru's technology, aerospace, logistics and commercial ecosystems, supported by major infrastructure developments such as the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City. Improving connectivity, planned infrastructure upgrades and expanding social amenities are expected to further strengthen the corridor's appeal as a residential and commercial growth destination.
Mallanna Sasalu, CEO - South, Puravankara Limited, added, "This acquisition further consolidates our presence in Bengaluru, our largest and most strategic market. North Bengaluru is increasingly being shaped by employment-led growth, improving infrastructure and genuine end-user demand. This project gives us the opportunity to create a well-planned residential community that brings together scale, connectivity, amenities and the quality of living that discerning homebuyers expect from Puravankara."
The announcement follows Puravankara's recent acquisitions and joint development agreements across key Bengaluru micro-markets, including Hennur Road, Mandur, and Doddagubbi, further strengthening its development pipeline in the city.
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