Puravankara Shares Rally 17.5% on Rs 4,800 Crore Bengaluru Land Deal

Shares of Puravankara Ltd rallied 17.5% to touch a day’s high of Rs 283.45 on 23rd December. This occurred after the company announced the acquisition of a 53.5-acre land parcel in Anekal Taluk, Bengaluru. This acquisition strengthens its presence in one of the city’s emerging residential growth corridors.

Puravankara said the acquisition fits its strategy to expand across key Bengaluru micro-markets. This expansion is supported by better infrastructure, strong connectivity, and steady end-user demand.

The company said the deal reflects its disciplined, long-term growth approach. It also focuses on adding quality land to its launch pipeline.

The Attibele Hobli land parcel has a saleable area of 6.4 msft. It also boasts a potential gross development value (GDV) of over Rs 4,800 crore.

Mallanna Sasalu, CEO South, said the project is located in a high-demand micro-market with limited availability of developable land.

During H1 FY26, Puravankara added 6.36 msft of developable area across Bengaluru and Mumbai. This addition comes with an estimated GDV of Rs 9,100 crore.

With this project included, the company’s year-to-date GDV rises to Rs 13,900 crore. Additionally, the total developable area increases to 12.76 msft.

Earlier in the year, Puravankara strengthened its Bengaluru presence through other deals. These include a 24.59-acre partnership at KIADB Hardware Park, boasting a GDV over Rs 3,300 crore. Additionally, a 5.5-acre joint development in Balegere with a GDV over Rs 1,000 crore was initiated.

At 1:25 PM, shares of Puravankara were trading 17.40% higher at Rs 283.11 on NSE.

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