Puravankara Devanahalli land buy adds Rs 800 crore project

Puravankara Limited has strengthened its North Bengaluru presence by buying a 9.73-acre land parcel in the Devanahalli growth corridor. The site has a development potential of about 0.89 million sq ft and an estimated gross development value of Rs 800 crore. The Puravankara Devanahalli deal is an outright purchase at Sanna Ammanikere, in the city's fast-developing airport corridor.

The Puravankara Devanahalli site sits close to Kempegowda International Airport and to employment hubs in the north of the city. The corridor benefits from infrastructure work including the Airport Metro, the Satellite Town Ring Road, Aerospace Park and Airport City. The region has grown as Bengaluru's technology, aerospace, logistics and commercial activity has spread north, and the company said improving connectivity and planned infrastructure upgrades should further lift the Devanahalli corridor's appeal as a place to live and work.

What the Puravankara Devanahalli project will add

The Puravankara Devanahalli project will add homes aimed at buyers in the Bengaluru housing market who want well-connected homes in a growth corridor, the company said. The Sanna Ammanikere site is the company's latest outright purchase in the corridor, and it will add to Bengaluru housing supply in the north of the city once homes there are built and sold. The acquisition fits a strategy of building a residential pipeline in high-demand micro-markets through a mix of outright purchases and capital-efficient partnerships. Puravankara said the upcoming Puravankara Devanahalli homes will cater to growing demand for thoughtfully designed houses in well-connected urban growth corridors.

Ashish Puravankara, managing director of Puravankara Limited, said: "North Bengaluru continues to be one of the most promising growth corridors in the city, driven by strong infrastructure development and proximity to the airport. This acquisition aligns with our strategy of expanding in high-potential micro-markets and delivering quality housing that meets evolving customer aspirations." He added: "Bengaluru continues to be at the centre of India's residential growth story, supported by a strong economic base, expanding infrastructure and sustained end-user demand."

Pipeline behind the Puravankara Devanahalli deal

The Puravankara Devanahalli purchase was one of several land additions the company made in the first half of FY27. In the same period it secured a 14.57-acre parcel at Mandur in Bengaluru with a gross development value of Rs 2,300 crore and 1.80 million sq ft of potential, entered a joint development for an 11.23-acre parcel at Doddagubbi in North Bengaluru with a potential value of over Rs 1,100 crore, and entered a joint development for a 6.4-acre parcel at Sarjapura in Bengaluru with a potential value of over Rs 1,000 crore. Together, those deals show how much of the company's current pipeline sits in and around the city's north.

Puravankara's sales also picked up in the same period. The company reported pre-sales up 62 percent year on year at Rs 2,136 crore in the second quarter of FY27. During that quarter it launched three new projects with a combined developable area of 1.00 million sq ft: Westend in Bengaluru, Miami in Mumbai and Equinox 6 in Bengaluru. It completed 0.41 million sq ft in the quarter at One Park Avenue in Mumbai, and handed over 977 homes to customers.

Puravankara is a listed Indian developer with projects in Bengaluru, Kochi, Chennai, Coimbatore, Mangaluru, Hyderabad, Mysore, Mumbai and Pune. The Puravankara Devanahalli land adds to a pipeline that the company is building around the Devanahalli corridor, and the next step for the site will be a formal project announcement with home sizes, prices and a launch date, none of which the company has disclosed yet.