Puravankara Secures ₹2,700 Crore Redevelopment Project in Malabar Hill, South Mumbai
Bengaluru-based developer Puravankara Limited has acquired redevelopment rights for a 1.43-acre residential project in Malabar Hill, South Mumbai, with a gross development value (GDV) of ₹2,700 crore. This is the company’s second major project in South Mumbai, following the Miami Apartments redevelopment in Breach Candy.
Mumbai Real EstatePuravankaraMalabar HillRedevelopmentLuxury HousingReal EstateSep 02, 2025
The company stated that the project will be an exclusive residential enclave that aims to redefine luxury living in the city. Ashish Puravankara, Managing Director of Puravankara Limited, expressed his delight at the company’s 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. 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,” he said.
This will be the second redevelopment project announced by the company in South Mumbai. In September 2024, Puravankara secured the redevelopment rights of the Miami Apartments at Breach Candy in South Mumbai. The company has also announced the redevelopment of eight residential societies in Chembur in July 2025, with a development potential of over 1.2 million square feet and an estimated GDV of ₹2,100 crores.
According to Rajat Rastogi, CEO of West and Commercial Assets at Puravankara Limited, the addition of the Malabar Hill project further strengthens the company’s Mumbai portfolio and underscores its 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 ₹10,500 crores,” Rastogi said.
Over the last two years, Puravankara has announced projects in prime localities like Breach Candy in South Mumbai, Pali Hill in Bandra, and Lokhandwala in Andheri. The company’s strategic expansion into these areas highlights its commitment to premium real estate development and its ability to deliver high-quality, luxury residences in Mumbai’s most sought-after neighborhoods.
Puravankara Limited is a leading real estate developer in India, known for its focus on quality, innovation, and customer satisfaction. The company’s strong presence in key markets and its expertise in redevelopment projects position it as a key player in the evolving landscape of Mumbai’s real estate sector.
Frequently Asked Questions
What is the gross development value (GDV) of the Malabar Hill project?
The gross development value (GDV) of the Malabar Hill project is ₹2,700 crore.
How many square feet of development potential does the Malabar Hill project offer?
The Malabar Hill project offers a development potential of 0.7 million square feet.
What is the name of the subsidiary through which Puravankara acquired the redevelopment rights in Malabar Hill?
Puravankara acquired the redevelopment rights in Malabar Hill through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd.
What was Puravankara's first redevelopment project in South Mumbai?
Puravankara's first redevelopment project in South Mumbai was the Miami Apartments at Breach Candy, announced in September 2024.
What is the total redevelopment portfolio of Puravankara in Mumbai after the Malabar Hill project?
After the Malabar Hill project, Puravankara's redevelopment portfolio in Mumbai stands at 4.25 million square feet, with a potential GDV of ₹10,500 crores.
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