Real estate developer Puravankara Limited has bagged the redevelopment rights for a premium residential society in Malabar Hill, marking its entry into one of South Mumbai’s most prestigious addresses.
The project, being executed through its wholly-owned subsidiary Purva Blue Agate Pvt Ltd, spans 1.43 acres and offers a development potential of 0.7 million sq. ft. It will provide new homes for existing residents and generate substantial sale inventory, with an estimated gross development value (GDV) of ₹2,700 crore.
“This redevelopment project reflects our commitment to creating world-class homes while contributing to the evolving urban fabric of India’s financial capital,” said Ashish Puravankara, Managing Director, Puravankara Limited. “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.”
The Malabar Hill project comes shortly after the company was chosen for the redevelopment of eight housing societies in Chembur in July 2025, with a development potential of 1.2 million sq. ft. and an estimated GDV of ₹2,100 crore.
“With the addition of Malabar Hill, our redevelopment portfolio in Mumbai now stands at 4.25 million sq. ft., carrying a GDV potential of ₹10,500 crore,” said Rajat Rastogi, CEO – West & Commercial Assets, Puravankara Limited.“This is our second major redevelopment in South Mumbai after the Miami Apartments at Breach Candy.”
Over the past two years, Puravankara has steadily expanded its redevelopment pipeline in Breach Candy, Pali Hill, and Lokhandwala, underscoring its growing footprint in Mumbai’s lucrative redevelopment market.
The announcement also coincides with Puravankara’s 50th year of operations, as the Bengaluru-headquartered developer strengthens its position in luxury and community-focused projects across India.
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