en.Wedoany.com Reported - Indian real estate developer Puravankara Limited has acquired a 9.73-acre land parcel in Sanna Ammanikere, located in the airport corridor of North Bengaluru, to develop a residential project with an estimated gross development value of INR 800 crore.
The company confirmed the completion of the acquisition in a filing to regulatory authorities on June 17, but did not disclose the acquisition cost or the identity of the seller. The development potential from this direct acquisition is approximately 890,000 square feet, with an estimated gross development value of INR 800 crore.
This acquisition strengthens Puravankara's presence in high-growth micro-markets of Bengaluru, with a strategy to consolidate its market position through a balanced mix of direct purchases and capital-efficient collaborations. The company stated that the upcoming residential project aims to meet the demand for well-designed homes in Bengaluru's urban growth corridors, which offer good connectivity.
Ashish Puravankara, Managing Director of Puravankara Limited, stated that this acquisition reflects the company's confidence in the long-term potential of North Bengaluru and its focus on acquiring quality land parcels in strategic corridors. He mentioned that the company will continue to build a strong development pipeline through disciplined capital allocation, rapid turnaround from acquisition to launch, and projects that respond to the expectations of modern homebuyers.
The land parcel is located in the Devanahalli growth corridor, providing connectivity to Kempegowda International Airport and access to major employment hubs. The area benefits from Bengaluru's northward expansion of its technology, aerospace, logistics, and business ecosystems, supported by major infrastructure developments such as the airport metro, satellite town ring road, aerospace park, and airport city.
Mallanna Sasalu, CEO of South India for Puravankara Limited, stated that this acquisition further consolidates the company's presence in Bengaluru, which is its largest and most strategic market. He noted that North Bengaluru is being driven by employment-led growth, infrastructure improvements, and genuine end-user demand, and that this project will create a well-planned residential community integrating scale, connectivity, amenities, and quality living.
Prior to this, Puravankara had undertaken recent acquisitions and joint development agreements in key micro-markets of Bengaluru, including Hennur Road, Mandur, and Doddagubbi, further strengthening its development pipeline in the city. As of March 31, 2026, Puravankara has completed 95 projects across nine cities (Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa), totaling approximately 57 million square feet. The company's total land bank is approximately 40 million square feet, with ongoing projects aggregating 36.69 million square feet.
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