Puravankara has acquired a 9.73-acre land parcel at Sanna Ammanikere in North Bengaluru's fast-developing airport corridor. The outright acquisition has a development potential of approximately 0.89 million sq ft, with an estimated gross development value (GDV) of ₹800 crore. This move reinforces the company's strategy of strengthening its presence across high-growth Bengaluru micro-markets through a balanced mix of outright purchases and capital-efficient partnerships.

Key Details of the Acquisition

The following table summarises the key parameters of the land acquisition:

Strategic Significance

The land parcel is located in the Devanahalli growth corridor, offering connectivity to Kempegowda International Airport and key employment hubs. The region benefits from the northward expansion of Bengaluru's technology, aerospace, logistics and commercial ecosystems, supported by infrastructure developments such as the Airport Metro, Satellite Town Ring Road, Aerospace Park and Airport City.

Ashish Puravankara, Managing Director, Puravankara Limited, stated that the acquisition reflects the company's conviction in the long-term potential of North Bengaluru. He emphasized the focus on securing high-quality land parcels in strategic corridors and building a strong development pipeline through disciplined capital allocation.

Mallanna Sasalu, CEO - South, Puravankara Limited, added that the project consolidates the company's presence in Bengaluru, its largest market. He noted that North Bengaluru is being shaped by employment-led growth and improving infrastructure, providing an opportunity to create a well-planned residential community.

This announcement follows recent acquisitions and joint development agreements across key Bengaluru micro-markets, including Hennur Road, Mandur, and Doddagubbi, further strengthening Puravankara's development pipeline.

Puravankara Ltd's promoter group has confirmed that no encumbrances were created on the company's shares during the financial year 2025-26. The disclosure, dated April 6, 2026, was submitted by Ravi Puravankara, Chairman of the company, on behalf of the promoter group and Persons Acting in Concert (PAC). This declaration ensures that the promoters have not pledged their holdings, indicating a stable ownership structure free of leverage against the stock.

The filing was made in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Puravankara formally informed the BSE Limited and National Stock Exchange of India Limited regarding this disclosure on April 8, 2026. The regulatory requirement mandates the disclosure of any encumbrance created by promoters or PACs on the shares of the company.

Declaration Details

The declaration explicitly states that neither the promoters nor the members of the promoter group, along with their PACs, have made any encumbrance, directly or indirectly, on the shares held by them during the specified financial period. The document was signed by Sudip Chatterjee, Company Secretary & Compliance Officer, when submitted to the exchanges.

The absence of encumbrances suggests that the promoter group's shareholding remains unencumbered, which is generally viewed positively by investors regarding the promoters' commitment and financial standing relative to their shareholding.