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Bengaluru real estate: Puravankara has acquired a 9.73-acre land parcel in North Bengaluru where it plans to develop a residential project with around 0.89 million sq ft of development potential and an estimated revenue of ₹800 crore.
Puravankara Limited has acquired a 9.73-acre land parcel in North Bengaluru to develop a new residential project with an estimated revenue potential of ₹800 crore. The land is located at Sanna Ammanikere in the city's fast-growing airport corridor, a location that has witnessed strong demand for housing in recent years.
The company announced the acquisition in a regulatory filing dated June 17. However, it did not disclose the cost of the land or the name of the seller.
According to the company, the newly acquired land has a development potential of around 0.89 million square feet. The upcoming project is expected to generate an estimated gross development value (GDV) of ₹800 crore.
Puravankara said the new residential development will focus on meeting the growing demand for modern homes in well-connected areas of Bengaluru. The company aims to offer thoughtfully designed homes with quality amenities for today's homebuyers.
The acquisition is also part of Puravankara's long-term strategy to strengthen its presence across key residential markets in Bengaluru through direct land purchases and strategic partnerships.
The land parcel is located in the Devanahalli growth corridor, one of Bengaluru's fastest-growing real estate destinations.
The area enjoys excellent connectivity to Kempegowda International Airport and several major employment hubs. It has become a preferred location for homebuyers because of rapid infrastructure development and expanding commercial activity.
Several large infrastructure projects are supporting the growth of the region, including the Airport Metro, Satellite Town Ring Road (STRR), Aerospace Park, and Airport City. These developments are expected to improve connectivity and create more employment opportunities in the coming years.
With technology companies, aerospace industries, logistics firms, and commercial businesses expanding in North Bengaluru, demand for quality residential projects has also increased.
Commenting on the acquisition, Ashish Puravankara, Managing Director of Puravankara Limited, said the purchase reflects the company's confidence in the long-term growth of North Bengaluru.
He said the company will continue to acquire quality land parcels in strategic locations while maintaining disciplined investments. According to him, Puravankara is focused on launching projects faster and developing homes that match the changing needs of modern buyers.
The company believes that well-planned residential communities in high-growth locations will continue to attract both homebuyers and investors.
Mallanna Sasalu, CEO - South at Puravankara Limited, said Bengaluru remains the company's largest and most important market.
He said North Bengaluru is witnessing strong growth because of increasing employment opportunities, better infrastructure, and rising demand from end-users rather than only investors.
According to him, the upcoming project will offer a combination of good connectivity, modern amenities, spacious planning, and quality construction, providing buyers with a comfortable living experience.
The latest acquisition adds to Puravankara's growing pipeline of residential projects in Bengaluru.
In recent months, the company has signed land acquisition and joint development agreements in several important locations, including Hennur Road, Mandur, and Doddagubbi.
According to a regulatory filing dated May 25, Puravankara also acquired a 14.57-acre land parcel in Mandur, near the Whitefield–Kadugodi micro-market in Bengaluru, for a new residential project with an estimated revenue potential of ₹2,300 crore. The project is expected to offer around 1.8 million square feet of saleable area.
These acquisitions show the company's continued focus on expanding its presence in Bengaluru's high-growth residential markets.
Puravankara has steadily expanded its residential portfolio across the country over the years.
As of March 31, 2026, the company had completed 95 projects covering around 57 million square feet across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
The company currently has a land bank of around 40 million square feet, while its ongoing projects cover approximately 36.69 million square feet.
