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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Ashish Puravankara, Managing Director of Puravankara Limited, commented, “Our venture into South Mumbai with the redevelopment of Miami Apartments is a major milestone. This project highlights our commitment to luxury and positions us to create iconic living spaces in one of Mumbai’s most sought-after locales. We are eager to apply our expertise in South Mumbai and enhance our footprint across other markets.”

In addition to its South Mumbai project, Puravankara has expanded its redevelopment activities in Lokhandwala, Andheri West. Following the acquisition of two societies in November 2023, the company has now been selected as the preferred developer for a cluster of four additional societies. This new development, covering approximately 1.30 acres, increases Puravankara’s total land area in the region to around 4.3 acres. Market rates in this micro-market range between Rs 40,000 and Rs 45,000 per square foot.

Rajat Rastogi, CEO – West & Commercial Assets at Puravankara Limited, noted, “The addition of these projects in Breach Candy and Andheri West reinforces our position in Mumbai’s real estate landscape. Our focus on design excellence, transparency, and adherence to project timelines underscores Puravankara’s reputation as a trusted developer. We remain committed to acquiring premium assets in the MMR and Pune markets.”

In Bengaluru, Puravankara has signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel in Electronics City. Adjacent to the Purva Westend project, this new land parcel will feature a saleable area of 260,000 square feet. Located approximately 100 meters from the Kudlu Gate Metro Station, the site offers convenient access to tech parks, hospitals, and schools. Current market rates in the area range from Rs 12,000 to Rs 14,000 per square foot.

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