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VMPL
Bengaluru (Karnataka) [India], May 25: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, has secured a 14.57-acre land parcel located in Mandur, Budigere in Bengaluru with a potential gross development value of around Rs. 2,300 crore. Out of this, 7.92 acres is part of a joint development agreement (JDA), while 6.65 acres has been purchased by Puravankara. The total saleable area for the entire project will be approximately 1.8 msft. Ashish Puravankara, Managing Director, Puravankara Limited, said, "This deal is part of our ongoing efforts to systematically add high-quality projects to our launch pipeline across strategic micro-markets. This reflects our disciplined approach to growth, a long-term view for the organisation, and confidence in the fundamentals of these markets. With this latest acquisition, our total landbank - Developable area in Bengaluru stands at 25.61 msft." Commenting on the same, Mallanna Sasalu, CEO - South, Puravankara Limited, said, "The Budigere-Mandur corridor has emerged as an important residential micro-market with significant long-term potential. It benefits from the established commercial ecosystem in North - East Bengaluru, supported by social infrastructure and strong end-user demand. The site 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. This transaction further strengthens our Bengaluru portfolio and aligns with our strategy of adding high-quality projects through capital-efficient structures such as joint developments." The land parcel is located in the rapidly evolving eastern corridor of Bengaluru near the thriving Whitefield-Kadugodi micro-market, driven by strong infrastructure expansion and sustained IT-led demand. Situated off the Old Madras Road, the location offers convenient access to Whitefield, KR Puram, ITPL, the Outer Ring Road, and key commercial hubs, and provides connectivity to Kempegowda International Airport. Surrounded by reputed schools, healthcare facilities, premium gated communities, and evolving lifestyle infrastructure, the location presents a compelling blend of urban convenience and residential tranquillity. 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 Rs. 10,400 crore. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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