Bengaluru headquartered publicly listed real estate developer Puravankara Limited in regulatory filing declaed it has acquired a plot of land totaling 53.5 acres in Anekal Taluk in Bengaluru with a gross development value exceeding ₹4,800 crores.
The property plot is situated in Attibele Hobli, which is a rapidly expanding residential micro-market in the southern part of Bengaluru. As per the company, this plot has a developable plot area of around 6.4 million square feet, which is likely to be developed into a large residential community.
“This acquisition is part of our ongoing efforts to systematically add quality developable land to our launch pipeline across strategic micro-markets,” Ashish Puravankara, Managing Director of Puravankara Limited, said. “It reflects our disciplined approach to growth and our confidence in the long-term fundamentals of these markets to create large, sustainable communities.”
This acquisition further enhances the land bank in the city of Bengaluru for the firm Puravankara, which is witnessing strong demand from the end-user segment in the city because of job creation and the increased connectivity of the city to its peripherals.
The acquisition helps increase the development pipeline of the company considerably for the current FY, said Mallanna Sasalu, CEO-South, Puravankara Limited. The total acquisitions made by the company this year now touch 12.76 million sq ft of developable area with a cumulative GDV of approximately ₹13,900 crores in the cities of Bangalore and Mumbai, he added.
He further added that during the first half of FY26, Puravankara added 6.36 million sq ft of developable space with an estimated GDV of ₹9,100 crore. The introduction of an extra ₹4,800 crore of projects further enhances company's launch pipeline for the year.
As per the company, the micro-market in Anekal, Bengaluru, has been identified as a prime residential growth route because of more affordable pricing, enhanced infrastructure, and proximity to job centers. Nevertheless, land parcels in this region, which are large and accessible, are scarce, and this acquisition becomes an important expansion move for Puravankara.
In early this year, it has increased its foothold in North Bengaluru in collaboration with KVN Property Holdings LLP in a project on KIADB Hardware Park in a 24.59 acre land with developable land area of approximately 3.48 million sq ft; prevailing GDV stands at over ₹3,300 crores.
In East Bengaluru, Puravankara has also entered into joint development agreements for 5.5 acres of land in Balegere, with a development potential of approximately 0.85 million sq ft and GDV over ₹1,000 crores. With numerous land purchases and joint ventures in Bengaluru and Mumbai, Puravankara is increasing the scope of its residential projects, getting ready to capitalize on the demand for housing in India's major cities.
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