Realty firm Puravankara Limited on Monday (September 1) said it has secured the redevelopment rights for a premium residential society in Malabar Hill, one of Mumbai’s most sought-after neighbourhoods.
The project spans 1.43 acres and offers a development potential of 0.7 million square feet. It will provide modern homes for existing residents while unlocking a significant portion for sale in the open market. The gross development value (GDV) of the project is estimated at ₹2,700 crore.
The announcement follows Puravankara’s recent selection in July 2025 as the preferred developer for eight residential society redevelopments in Chembur, with a combined development potential of 1.2 million square feet and an estimated GDV of ₹2,100 crore.
Also Read: Puravankara to redevelop eight societies in Mumbai with revenue potential of ₹2,100 crore
Ashish Puravankara, Managing Director, Puravankara Limited, said, “We are delighted to make our foray into Malabar Hill, one of Mumbai’s most prestigious addresses. With its location, scale, and luxury positioning, this project is in perfect alignment with our strategy of expanding into key strategic markets across the city.”
Shares of Puravankara Ltd ended at ₹286.30, down by ₹1.30 or 0.45%, on the BSE today, September 1.
Also Read: Puravankara net loss widens to ₹88 cr in Q4 as revenue falls 41%; FY25 pre-sales cross ₹5,000 crore
(Edited by : Shoma Bhattacharjee)
