Puravankara gains after acquiring 9.73-acre land parcel in North Bengaluru

Shares of Puravankara rose 2.10% to Rs 219.25 after the real estate developer announced the acquisition of a 9.73-acre land parcel in North Bengaluru.

The company said the land parcel is located at Sanna Ammanikere in the rapidly developing airport corridor. The project has a development potential of around 0.89 million square feet and an estimated gross development value (GDV) of Rs 800 crore.

Puravankara said the acquisition strengthens its presence in key Bengaluru micro-markets and supports its strategy of building a robust development pipeline through a mix of outright land purchases and partnerships.

The proposed residential project will cater to growing demand for housing in North Bengaluru, a region benefiting from improving infrastructure and expanding commercial activity.

The land parcel is situated in the Devanahalli growth corridor, with connectivity to Kempegowda International Airport and major employment hubs. The area is witnessing increased development driven by the expansion of technology, aerospace, logistics and commercial sectors.

The region is also expected to benefit from infrastructure projects such as the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City.

The acquisition follows a series of recent land deals and joint development agreements by Puravankara across Bengaluru, including projects on Hennur Road, Mandur and Doddagubbi.

Puravankara is one of India's leading real estate developers with a presence across multiple cities and a diversified portfolio spanning residential, commercial and plotted developments.

On a consolidated basis, Puravankara reported net profit of Rs 113.24 crore in Q4 March 2026 as against net loss of Rs 85.82 crore in Q4 March 2025. Net sales surged 177.33% YoY to Rs 1501.92 crore in Q4 March 2026.

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