Shares of Puravankara Ltd surged 6% on 2 September after the corporate introduced that its wholly-owned subsidiary had secured a redevelopment venture.
In its regulatory submitting, the corporate stated that its wholly-owned subsidiary, Purva Blue Agate Pvt Ltd, has secured a serious redevelopment venture in Mumbai’s ultra-premium Malabar Hill locality.
The 1.43-acre web site will be redeveloped into 0.7 million sq. ft. of house, with an estimated income potential of Rs 2,700 crore. The venture will ship luxurious properties to current residents whereas unlocking a major quantity of stock on the market on the open market.
Ashish Puravankara, managing director, Puravankara Restricted, stated, “We’re delighted to make our foray into Malabar Hill, considered one of Mumbai’s most prestigious addresses. This redevelopment venture displays our dedication to creating world-class properties whereas contributing to the evolving city material of India’s monetary capital. With its location, scale, and luxurious positioning, this venture is in good alignment with our technique of increasing into key strategic markets throughout the town.”
Rajat Rastogi, CEO of West & Industrial Belongings, Puravankara Restricted, stated that the addition of Malabar Hill to their Mumbai portfolio will strengthen their rising position within the metropolis’s redevelopment story.
Rastogi added, “That is our second main redevelopment in South Mumbai after the Miami Flats at Breach Sweet. With a pointy give attention to design excellence, transparency, and well timed supply, we proceed to be the trusted accomplice for societies embarking on redevelopment. With this acquisition, our redevelopment portfolio in Mumbai now stands at 4.25 million sq. toes, with a possible GDV of Rs 10,500 crore.”
The announcement comes quickly after the corporate’s July 2025 milestone, when it secured the position of most well-liked developer for eight residential society redevelopments in Chembur. That venture spans 1.2 million sq. ft. of improvement potential with an estimated GDV of Rs 2,100 crore.
Over the past two years, Puravankara has expanded its redevelopment portfolio with initiatives in Breach Sweet, Pali Hill, and Lokhandwala. The Malabar Hill addition strengthens its place as a number one participant in Mumbai’s fast-growing redevelopment market.
At 11:43 am, the shares of Puravankara had been buying and selling 2.28% increased at Rs 292 on NSE.
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