Shares of Puravankara Limited surged sharply in early trade after the company announced the acquisition of a large land parcel in Bengaluru, reinforcing its long-term growth strategy in one of India’s most active residential markets.
Puravankara stock jumped over 10% on Tuesday, reflecting strong investor response to the strategic expansion. As of 9:32 AM IST, the shares were trading 10.07% higher at ₹265.44 on the NSE and BSE.
The real estate developer has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru, a region that has been witnessing rapid residential development due to improving infrastructure, better road connectivity, and sustained end-user demand. The acquisition further strengthens Puravankara’s presence across key Bengaluru micro-markets that are emerging as long-term housing growth corridors.
According to the company, the newly acquired land is located at Attibele Hobli and offers a saleable development potential of approximately 6.4 million square feet. The proposed development carries a potential gross development value of over ₹4,800 crore, making it a meaningful addition to Puravankara’s future project pipeline.
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