Puravankara stock in focus as firm expands land portfolio with new acquisition in Bengaluru

Puravankara Ltd acquires +3 acre land; stocks in under focus

Puravankara Ltd announced the acquisition of a 3.63-acre land parcel in Kanakapura Road, Bengaluru, bringing its stocks into focus. The stocks are currently trading at Rs 378.05 as of 12:46 pm, lower by 0.55 percent than the opening figures. The stocks have been trading close to Rs 380 since opening on January 9.

This acquisition aligns with the company’s strategic vision to expand its footprint in key Bengaluru micro-markets with robust infrastructure, connectivity, and residential demand.

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Commenting on the acquisition, Ashish Puravankara, Managing Director of Puravankara Limited, said: "We are excited to announce the acquisition of this land parcel at a prime location on Kanakapura Road, Bengaluru. This strategically located land parcel is in a micro-market with buoyant demand and low availability of land for development. Given its excellent connectivity and well-established infrastructure, it has significant potential for premium residential development. Our focus will continue to be on business development to replenish our land bank in such strategic locations with favourable demand-supply conditions.”

The land parcel is in a prime location on Kanakapura Road and enjoys seamless road and metro

connectivity to prominent parts of the city. It is located 1 km from Thalaghattapura Metro Station on the Green Line of Namma Metro. J.P. Nagar, a well-established residential and commercial hub, is about 7 km away. The area also boasts robust social and retail infrastructure. The land parcel has a saleable area of 5.42 lakh sq ft and a total estimated Gross Development Value of Rs 700+ crore.