Puravankara Limited has officially announced the acquisition of a 53.5-acre land parcel in Anekal Taluk, Bengaluru, with a potential Gross Development Value (GDV) of over ₹4,800 crores. The strategic acquisition strengthens the company's presence in one of the city's emerging residential growth corridors, supported by improved infrastructure and strong connectivity.

Land Acquisition Specifications

The newly acquired land parcel is strategically located at Attibele Hobli in Anekal Taluk, offering significant development potential for the real estate developer.

Strategic Growth Initiative

Commenting on the development, Ashish Puravankara, Managing Director, stated that this acquisition is part of ongoing efforts to systematically add quality developable land to their launch pipeline across strategic micro-markets. The acquisition reflects the company's disciplined approach to growth with a long-term organizational view and confidence in market fundamentals to create large, sustainable communities.

Mallanna Sasalu, CEO-South, highlighted that the project is located in a micro-market marked by strong end-user demand and limited availability of developable land.

Expanded Development Portfolio

This acquisition significantly enhances Puravankara's development capacity and market presence in Bengaluru.

Recent Strategic Acquisitions

Earlier this year, Puravankara advanced its Bengaluru growth plans through multiple strategic acquisitions, including:

1. A partnership with KVN Property Holdings LLP for a 24.59-acre parcel at KIADB Hardware Park in North Bengaluru:

   • Developable area: 3.48 million sq ft
   • Potential GDV: Over ₹3,300 crores

2. A joint development for a 5.5-acre parcel in Balegere, East Bengaluru:

   • Developable area: 0.85 million sq ft
   • Potential GDV: Over ₹1,000 crores

These acquisitions demonstrate Puravankara's systematic approach to expanding across Bengaluru's micro-markets while capitalizing on sustained end-user demand in the region's real estate sector.

Puravankara Limited has announced the provision of a corporate guarantee worth ₹50.00 crores to its wholly owned subsidiary Starworth Infrastructure Construction Limited. The guarantee facilitates the enhancement of credit facilities with Axis Bank Limited, as disclosed in a regulatory filing.

Corporate Guarantee Details

The company provided comprehensive disclosure regarding the guarantee arrangement as required under SEBI regulations. The key parameters of this corporate guarantee are structured as follows:

Regulatory Compliance and Disclosure

Puravankara Limited made this disclosure in accordance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company clarified that promoter and promoter group companies have no interest in this transaction. Only Starworth Infrastructure Construction Limited, being the wholly owned subsidiary, is the interested party in this guarantee arrangement.

Financial Impact Assessment

The corporate guarantee represents a contingent liability for Puravankara Limited. However, the company has stated that there is no immediate impact of this guarantee on its operations. The guarantee has been provided on behalf of a wholly owned subsidiary that forms part of the consolidated group structure.

Corporate Structure Context

Starworth Infrastructure Construction Limited operates as a wholly owned subsidiary of Puravankara Limited, making this guarantee an internal group transaction. The credit facility enhancement through Axis Bank Limited is expected to support the subsidiary's operational and business requirements within the broader Puravankara group framework.