Puravankara Ltd's Stock Surges 8% After Winning ₹2,100 Cr Mumbai Redevelopment Project
Puravankara Ltd's shares soared up to 8% after the company was selected as the preferred developer for a significant redevelopment project in Chembur, Mumbai. The project, worth ₹2,100 crore, spans 4 acres and offers a development potential of over 1.2 million sq. ft.
Real EstateMumbaiPuravankara LtdRedevelopmentStock MarketReal Estate MumbaiJul 07, 2025
With a market capitalization of ₹6,962 crore, the share price of Puravankara Ltd was trading almost 8% higher, hitting an intraday high of ₹303.75 per share from its previous closing price of ₹283.10 per share. This substantial jump reflects the market’s positive sentiment towards the company's strategic move.
Puravankara Limited, in an exchange filing, announced that it has been chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai. The project spans approximately 4 acres, offering a development potential of over 1.2 million sq. ft., with an estimated Gross Development Value (GDV) of ₹2,100 crore. This development marks a significant milestone in the company’s expansion strategy.
This new project follows the company’s earlier acquisitions in prime locations such as Breach Candy, Pali Hill, and Lokhandwala, further solidifying its presence in the Mumbai redevelopment market. These strategic moves are aimed at expanding Puravankara's footprint in the western region and enhancing its brand value.
Ashish Puravankara, Managing Director of Puravankara Limited, expressed his enthusiasm about the new project. “Securing marquee redevelopment projects in highly sought-after Mumbai neighborhoods such as Breach Candy, Pali Hill, Lokhandwala, and now Chembur is a strong validation of the trust, discerning societies, and residents place in the Puravankara brand. What distinguishes us is not just our vision, but also our design-led approach and unwavering focus on quality.”
Now with 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment, Puravankara is committed to strengthening its footprint in the western region. The region is expected to contribute a GDV of approximately ₹18,000 crore, with approximately ₹7,700 crore coming from redevelopment alone.
Puravankara Limited is a leading real estate developer based in Bengaluru, with a strong presence across nine Indian cities, including Mumbai, Pune, Chennai, Hyderabad, and Goa. The company has a legacy of nearly five decades and operates through three key residential brands: Purva, Provident Housing, and Purva Land, catering to diverse customer segments. As of March 2025, it has completed 90+ projects spanning ~52.7 million sq. ft., with 24,000+ homes under development and a land bank of ~25 million sq. ft.
The group has also ventured into Grade-A commercial real estate with ~3 million sq. ft. of presence and offers in-house EPC services through Starworth Infrastructure, along with interior design solutions via Purva Streaks. With recent wins in redevelopment projects in Chembur, Breach Candy, Pali Hill, and Lokhandwala, Puravankara is expanding its footprint in Mumbai’s redevelopment space while maintaining an integrated, asset-light growth approach.
Despite the recent surge in stock prices, the company reported a revenue of ₹2,014 crore in FY25, down by 7.8% from its FY24 revenue of ₹2,185 crore. However, the company’s profitability took a hit, reporting a net loss of ₹183 crore in FY25, compared to a net profit of ₹42 crore in FY24. These financial figures highlight the challenges and opportunities the company faces in the dynamic real estate market.
Investors and analysts are closely watching Puravankara's performance, anticipating that the company’s strategic initiatives and strong project pipeline will drive future growth and profitability.
Frequently Asked Questions
What is the market capitalization of Puravankara Ltd?
Puravankara Ltd has a market capitalization of ₹6,962 crore.
What is the estimated Gross Development Value (GDV) of the Chembur redevelopment project?
The estimated Gross Development Value (GDV) of the Chembur redevelopment project is ₹2,100 crore.
How much did the share price of Puravankara Ltd increase after the announcement?
The share price of Puravankara Ltd increased by almost 8%, hitting an intraday high of ₹303.75 per share.
What are the key residential brands operated by Puravankara Limited?
Puravankara Limited operates through three key residential brands: Purva, Provident Housing, and Purva Land.
What is the company's revenue for FY25?
Puravankara Ltd reported a revenue of ₹2,014 crore in FY25, down by 7.8% from its FY24 revenue of ₹2,185 crore.
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