Puravankara Limited (NSE: PURVA | BSE: 532891), one of India’s most trusted and respected real estate developers, has announced its foray into Malabar Hill, one of Mumbai’s most prestigious neighborhoods. The entry comes through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd, which has secured the redevelopment rights for a prime residential society in South Mumbai. This marks a significant milestone in Puravankara’s growing luxury development portfolio.
The 1.43-acre site offers a development potential of nearly 0.7 million sq. ft., with an estimated gross development value (GDV) of ₹2,700 crores. The project will not only deliver premium residences for the existing society members but will also unlock a large inventory of luxury apartments for sale in the open market. With this development, Puravankara aims to set a new benchmark for luxury living in South Mumbai, further strengthening its position in the city’s competitive real estate landscape.
Commenting on this development, Ashish Puravankara, Managing Director, Puravankara Limited, said, “We are delighted to make our foray into Malabar Hill, one of Mumbai’s most prestigious addresses. This redevelopment project reflects our commitment to creating world-class homes while contributing to the evolving urban fabric of India’s financial capital.”
The announcement also comes on the heels of Puravankara Group is being selected as the preferred developer for eight residential societies in Chembur, representing a combined potential of 1.2 million sq. ft. and a GDV of ₹2,100 crores. Together, these projects highlight the company’s aggressive growth in Mumbai’s redevelopment space.
Rajat Rastogi, CEO – West & Commercial Assets, Puravankara Limited, added, “The addition of Malabar Hill further strengthens our Mumbai portfolio and underscores our growing role in the city’s redevelopment story. This is our second major redevelopment in South Mumbai after the Miami Apartments at Breach Candy. With a sharp focus on design excellence, transparency, and timely delivery, we continue to be the trusted partner for societies embarking on redevelopment.”
With this acquisition, Puravankara’s Mumbai redevelopment pipeline now spans 4.25 million sq. ft. with a cumulative GDV of ₹10,500 crores. The company has already established a strong presence across South and West Mumbai through high-end projects in Breach Candy, Pali Hill, and Lokhandwala.
As Puravankara celebrates 50 years of operations, the Malabar Hill redevelopment stands as a testament to its vision of shaping urban living through sustainable, design-led, and community-focused developments in India’s most aspirational markets.
