Real estate developer Puravankara Limited has announced the acquisition of a 53.5-acre land parcel in Anekal Taluk, Bengaluru, marking a significant expansion of its presence in one of the city’s fastest-growing residential markets. The land, located in the Attibele Hobli area, offers a saleable area of approximately 6.4 million square feet and carries a potential Gross Development Value (GDV) exceeding ₹4,800 crore.
Key Highlights
- Puravankara buys 53-acre land parcel in Bengaluru with GDV exceeding ₹4,800 crore
- Acquisition boosts company’s residential pipeline in a high-growth city micro-market
Company leadership highlighted that the acquisition aligns with Puravankara’s strategic focus on systematically adding premium developable land to its project pipeline across high-demand micro-markets. Ashish Puravankara, Managing Director of Puravankara Limited, stated that the move underscores the company’s disciplined growth approach and confidence in Bengaluru’s long-term residential demand.
According to Mallanna Sasalu, CEO – South, the newly acquired site is situated in a location characterised by strong end-user demand and limited land availability, enhancing its appeal for large-scale residential development. He also noted that earlier in the fiscal year, Puravankara added significant land parcels in Bengaluru and Mumbai, contributing to a combined GDV of around ₹13,900 crore and approximately 12.76 million square feet of developable area for the year to date.
This latest acquisition is part of a broader growth strategy that includes strategic partnerships and joint ventures in key corridors. For instance, earlier deals involved land in North Bengaluru’s KIADB Hardware Park and a parcel in Balegere, East Bengaluru, further bolstering the company’s development prospects in the region.
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With completed projects across multiple cities and a robust land bank, Puravankara continues to leverage market opportunities amid a resilient residential property environment, aiming to meet sustained buyer interest while expanding its footprint.
