Puravankara shares jump 19% after firm acquires land parcel in Bengaluru with Rs 4,800-crore GDV

Puravankara share price

The shares of Puravankara jumped more than 19 percent on December 23 after the company announced that it has acquired a 53.5-acre land parcel in Bengaluru.

The shares of the real estate developer rose to Rs 287.30 apiece, the highest level seen by the stock is around two months.

Puravankara announced that it has acquired the land parcel spanning across 53.5 acres of land in Bengaluru's Anekal Taluk. It said the acquisition further strengthens its presence in one of the city's emerging residential growth corridors.

"The acquisition is aligned with the company's strategy to expand across Bengaluru micro-markets, supported by improved infrastructure, strong connectivity, and sustained end-user demand," it said.

Ashish Puravankara, Managing Director at Puravankara, said, "This acquisition is part of our ongoing efforts to systematically add quality developable land to our launch pipeline across strategic micro-markets. This reflects our disciplined approach to growth with a long-term view for the organisation, and also confidence in the fundamentals of these markets to create large, sustainable communities."

The newly acquired land parcel at Attibele Hobli is strategically located and has a saleable area of 6.4 msft, with a potential gross development value of over Rs 4,800 crores, the company said.

The project is located in a micro-market marked by strong end-user demand and limited availability of developable land, said Mallanna Sasalu, CEO - South, Puravankara. "Before this acquisition, during H1 FY26, we added a total of 6.36 million sq ft of developable area in Bengaluru and Mumbai, with an estimated gross development value of Rs 9,100 crores. The addition of another Rs 4,800 crores brings the potential GDV to Rs 13,900 crores and the developable area to 12.76 msft for the year to date," he said.

Sasalu added that Puravankara advanced its Bengaluru growth plans through strategic acquisitions   earlier this year. "This includes partnering with KVN Property Holdings LLP for a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru, with a developable area of 3.48 msft and a potential GDV of over Rs 3,300 crores, as well as a joint development for a 5.5-acre parcel in Balegere, East Bengaluru, with a developable area of 0.85 msft and a potential GDV of over Rs 1,000 crore," he further said.

Puravankara share price:

Puravankara shares gained nearly 8 percent in the past one week, but is down more than 31 percent in 2025 so far. This comes after the stock surged over 200 percent in the past three years.

After hitting a 52-week high of Rs 415 apiece in December last year, the stock dropped around 50 percent in around 5 months to hit a 52-week low of Rs 208.70 apiece in May this year. The stock has regained 38 percent since then. However, it is still down around 31 percent from its 52-week high level.

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