Puravankara Ltd. announced on Monday, May 25, the acquisition of a 14.57 acre land parcel in Mandur, Bengaluru, with a gross development value of ₹2,300 crore. According to reports from CNBC TV18, the land acquisition comprises 7.92 acres through a joint development agreement and 6.65 acres through direct purchase by the company. The total saleable area for the entire project will span approximately 1.8 million square feet.
The land parcel is strategically located on the eastern corridor of Bengaluru near the Whitefield-Kadugodi micro-market, as reported by CNBC TV18. The location offers significant connectivity advantages, being positioned off the Old Madras Road with convenient access to Whitefield, KR Puram, ITPL, the Outer Ring Road, and key commercial hubs. The site also provides direct connectivity to Kempegowda International Airport, positioning it well for IT-led demand and infrastructure expansion in the region. The company emphasized that the location is surrounded by renowned schools, healthcare facilities, premium gated communities and evolving lifestyle infrastructure.
According to CNBC TV18 reports, in FY26, Puravankara strengthened its development pipeline in Bengaluru through strategic acquisitions and joint development agreements at Hennur Road, Anekal Taluk, Balagere East Bengaluru and KIADB Hardware Park with a cumulative estimated GDV of around ₹10,400 crore. The company's managing director, Ashish Puravankara, stated that with this latest acquisition, their total landbank - developable area in Bengaluru stands at 25.61 million square feet.
As reported by CNBC TV18, shares of Puravankara were trading 1.5% higher on Monday at ₹228.79 following the announcement. However, the stock remains down 5% so far this year and is significantly below its 52-week high of ₹339. The positive market reaction reflects investor confidence in the company's strategic land acquisitions and development pipeline expansion in Bengaluru's growing real estate market, driven by infrastructure expansion and IT-led demand in the region.
