Puravankara Ltd. Secures Rs. 2,700 Crore Redevelopment Project in Malabar Hill, Mumbai
Puravankara Limited's subsidiary, Purva Blue Agate Private Limited, has been awarded a Rs. 2,700 crore redevelopment project in Malabar Hill, Mumbai, boosting the company's stock and expanding its footprint in the city's real estate market.
Real EstateRedevelopmentPuravankara LimitedMalabar HillMumbaiReal Estate MumbaiSep 02, 2025
Purva Blue Agate Private Limited, a wholly owned subsidiary of Puravankara Limited, has been awarded a Rs. 2,700 crore contract to redevelop a 1.43-acre residential property in Malabar Hill, Mumbai. The project has a development potential of 0.7 million square feet and is expected to offer premium housing to existing residents while also creating additional units for sale.
This is not the first major redevelopment project for Puravankara Limited in Mumbai. In July 2025, the company was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, with a total project size of 1.2 million square feet and an estimated value of Rs. 2,100 crore.
Puravankara Limited’s CEO, Mr. Rajat Rastogi, commented on the significance of this new project: “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, our redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crores.”
Puravankara is a leading real estate developer with over 50 years of experience and a presence in nine cities across India. The company operates three housing brands, a tech-driven construction arm, an interior design division, and has expanded into Grade-A commercial real estate. As of June 2025, it has delivered 92 projects covering 54 million square feet, with a land bank of 30 million square feet and 35.75 million square feet in ongoing projects.
Despite the recent success, the company’s financial performance has shown some volatility. Revenue from operations declined from Rs. 658.3 crore in Q1 FY25 to Rs. 524.4 crore in Q1 FY26, while net profit fell from Rs. 14.78 crore to a loss of Rs. 68.55 crore. The company reported a negative Return on Equity (ROE) of 9.99 percent and a Return on Capital Employed (ROCE) of 6.06 percent.
Investors must exercise caution while making investment decisions based on the company’s recent performance and market trends. It is advisable to consult with an investment advisor before making any investment decisions.
Frequently Asked Questions
What is the value of the redevelopment project awarded to Puravankara Limited?
The value of the redevelopment project awarded to Puravankara Limited is Rs. 2,700 crore.
Where is the project located?
The project is located in Malabar Hill, Mumbai, India.
What is the development potential of the project?
The project has a development potential of 0.7 million square feet.
Who is the CEO of Puravankara Limited?
The CEO of Puravankara Limited is Mr. Rajat Rastogi.
How many projects has Puravankara Limited delivered as of June 2025?
As of June 2025, Puravankara Limited has delivered 92 projects covering 54 million square feet.
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