Puravankara Limited (NSE: PURVA) has acquired a 14.57-acre land parcel in Mandur, Bengaluru, with a gross development value (GDV) of Rs 2,300 crore. The land includes 7.92 acres under a joint development agreement (JDA) and 6.65 acres purchased outright by the company. This acquisition expands the company’s Bengaluru landbank to 25.61 million square feet (msft), with the entire project offering approximately 1.8 msft of saleable area. The deal the company’s focus on strategic micro-markets with high development potential.
The land is situated in the Budigere-Mandur corridor, strategically located off the Old Madras Road. It provides direct access to Whitefield’s commercial hubs, IT parks like ITPL, and Kempegowda International Airport. The area is surrounded by schools, healthcare facilities, and premium gated communities, combining urban convenience with residential tranquillity. This aligns with Puravankara’s strategy of developing high-quality projects in infrastructure-driven regions.
During FY26, Puravankara strengthened its Bengaluru pipeline through acquisitions and JDAs at Hennur Road, Anekal Taluk, Balagere, and KIADB Hardware Park, with a cumulative GDV of Rs 10,400 crore. The company has completed 95 projects across nine cities, totalling ~57 million sq ft, while its ongoing projects add 36.69 msft to its portfolio. The total land bank now stands at 40 msft, reflecting sustained growth in the region.
Ashish Puravankara, Managing Director, stated the acquisition reflects the company’s disciplined growth strategy and confidence in Bengaluru’s fundamentals. CEO Mallanna Sasalu emphasized the Budigere-Mandur corridor’s long-term residential potential, driven by infrastructure expansion and employment opportunities. The company’s pan-India presence, including subsidiaries like Starworth Infrastructure and Construction Limited, further supports its diversified development approach.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.