Nature of the Disclosure

Puravankara Limited has filed a regulatory disclosure under SEBI Listing Obligations and Disclosure Requirements Regulation 30, accompanied by a press release announcing a significant land acquisition in Bengaluru.

Key Quantitative Figures

  • Land parcel size: 14.57 acres located in Mandur, Budigere, Bengaluru
  • Gross Development Value (GDV): Approximately ₹2,300 crore
  • Acquisition structure: 6.65 acres purchased outright, 7.92 acres secured through Joint Development Agreement (JDA)
  • Total saleable area: Approximately 1.8 million square feet
  • Bengaluru landbank post-acquisition: 25.61 million square feet developable area

Transaction Details

  • Location: Mandur, Budigere in Bengaluru, situated in the eastern corridor near Whitefield-Kadugodi micro-market
  • Access: Off Old Madras Road with connectivity to Whitefield, KR Puram, ITPL, Outer Ring Road, and Kempegowda International Airport
  • Infrastructure: Surrounded by schools, healthcare facilities, premium gated communities, and evolving lifestyle infrastructure

Strategic Rationale

According to management commentary, this acquisition reflects the company's disciplined approach to growth and long-term view for the organization. The Budigere-Mandur corridor has emerged as an important residential micro-market with significant long-term potential, benefiting from established commercial ecosystem in North-East Bengaluru and strong end-user demand. The location offers convenient access to major employment hubs including several Grade-A office parks in Whitefield, making it a preferred residential destination for technology professionals and corporate employees.

Context and Previous Acquisitions

During FY26, Puravankara strengthened its development pipeline in Bengaluru through outright acquisitions and JDAs at Hennur Road, Anekal Taluk, Balagere East Bengaluru and KIADB Hardware Park with a cumulative estimated GDV of approximately ₹10,400 crore.

Company Background

As of March 31, 2026, Puravankara has completed 95 projects totaling approximately 57 million square feet across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is approximately 40 million square feet, with ongoing projects totaling 36.69 million square feet.