Puravankara Limited (NSE: PURVA | BSE: 532891), one of India’s most trusted real estate developers, has announced its entry into Malabar Hill through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd. The company has secured redevelopment rights for a prime residential society in South Mumbai, marking a significant milestone in its luxury portfolio.
The 1.43-acre site offers a development potential of 0.7 million sq. ft., with an estimated gross development value (GDV) of Rs2,700 crores. The project will deliver premium residences for existing society members while unlocking a substantial inventory for sale, setting a new benchmark for luxury living in the city.
“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,” said Ashish Puravankara, Managing Director, Puravankara Limited.
The announcement follows Puravankara’s recent selection as the preferred developer for eight residential societies in Chembur, with a combined development potential of 1.2 million sq. ft. and a GDV of Rs2,100 crores.
“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,” said Rajat Rastogi, CEO – West & Commercial Assets, Puravankara Limited. “With a sharp focus on design excellence, transparency, and timely delivery, we continue to be the trusted partner for societies embarking on redevelopment.”
Puravankara’s Mumbai redevelopment pipeline now spans 4.25 million sq. ft. with a cumulative GDV of Rs10,500 crores. The company has built a strong presence in South and West Mumbai through projects in Breach Candy, Pali Hill, and Lokhandwala.
As Puravankara celebrates 50 years of operations, the Malabar Hill acquisition reinforces its commitment to shaping urban living through sustainable, design-led, and community-focused developments in India’s most aspirational micro-markets.
