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Puravankara Ltd has acquired a 9.73-acre land parcel at Sanna Ammanikere in North Bengaluru to develop a residential project with an estimated revenue potential of INR 800 crore. The outright acquisition offers a development potential of around 0.89 million sq ft and forms part of the company's strategy to strengthen its presence in Bengaluru, one of its key residential markets. While the company did not disclose the acquisition cost or the identity of the seller, it stated that the project would add to its expanding development pipeline. As of March 31, 2026, Puravankara had completed 95 projects covering 57 million sq ft across nine Indian cities, while its total land bank stood at 40 million sq ft and ongoing developments spanned 36.69 million sq ft.
Puravankara Ltd has acquired a 9.73-acre land parcel in North Bengaluru with plans to develop a residential project expected to generate approximately INR 800 crore in revenue. The acquisition was announced on June 17 through a regulatory filing and further expands the developer’s presence in one of the country's most active housing markets.
The land parcel is located at Sanna Ammanikere in North Bengaluru, a micro-market that has witnessed growing residential development activity due to improving infrastructure, employment hubs and connectivity enhancements. The company stated that the acquisition has been completed through an outright purchase arrangement.
According to the filing, the site offers a development potential of around 0.89 million sq ft. The proposed residential project is expected to contribute an estimated INR 800 crore in revenue upon completion and sale of inventory.
Puravankara did not disclose the financial details of the transaction, including the acquisition cost of the land parcel or the identity of the seller. However, the company indicated that the purchase aligns with its broader strategy of replenishing land reserves and expanding its project pipeline in key urban markets.
Bengaluru continues to be one of the company’s most important operating markets and has remained a significant contributor to residential sales across southern India. The city has seen sustained demand from both end-users and investors, particularly in areas benefiting from proximity to technology parks, industrial corridors and transport infrastructure projects.
The latest acquisition adds to Puravankara’s substantial development portfolio. As of March 31, 2026, the company had completed 95 projects across nine cities, comprising a cumulative developed area of 57 million sq ft. Its operational footprint spans Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.
The developer also reported a total land bank of 40 million sq ft at the end of the last financial year. In addition, ongoing projects under development accounted for 36.69 million sq ft, reflecting a sizeable future supply pipeline across multiple residential markets.
Land acquisitions have become a key growth strategy for several listed real estate developers as demand for housing remains resilient in major urban centres. Developers have increasingly focused on securing strategically located land parcels through outright purchases, joint developments and revenue-sharing arrangements to maintain project launches and support future revenue visibility.
With the addition of the Sanna Ammanikere parcel, Puravankara continues to strengthen its development inventory in Bengaluru, where residential activity has remained robust amid expanding employment opportunities and infrastructure-led growth. The proposed project is expected to add nearly 0.89 million sq ft of residential development potential to the company’s portfolio and further reinforce its presence in North Bengaluru.
Source - PTI
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