Puravankara Secures ₹2,700-Crore Redevelopment Project in Malabar Hill, South Mumbai
Bengaluru-based developer Puravankara Limited has acquired redevelopment rights for a prime residential society in South Mumbai’s Malabar Hill, marking its second major project in the area after Breach Candy.
PuravankaraMalabar HillSouth MumbaiRedevelopmentLuxury HousingReal Estate NewsSep 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 over the acquisition. “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. 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 a housing society named Miami Apartments at Breach Candy in South Mumbai.
The company has been actively expanding its portfolio in Mumbai. In July 2025, it announced the redevelopment of eight residential societies in Chembur, with a development potential of over 1.2 million square feet and an estimated GDV of ₹2,100 crores.
Rajat Rastogi, CEO of West and Commercial Assets at Puravankara Limited, emphasized the significance of the Malabar Hill project. “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 acquisitions and developments in these areas underscore its commitment to redefining luxury living in Mumbai’s most sought-after neighborhoods.
Frequently Asked Questions
What is the total development potential of the Malabar Hill project?
The Malabar Hill project offers a development potential of 0.7 million sq ft.
What is the estimated gross development value (GDV) of the Malabar Hill project?
The estimated gross development value (GDV) of the Malabar Hill project is ₹2,700 crore.
What is the name of the subsidiary through which Puravankara secured the Malabar Hill project?
Puravankara secured the Malabar Hill project through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd.
What is the location of the Malabar Hill project?
The Malabar Hill project is located in South Mumbai, one of the city's most prestigious addresses.
What other redevelopment projects has Puravankara announced in South Mumbai?
Puravankara has announced the redevelopment of the Miami Apartments at Breach Candy in South Mumbai, in addition to the Malabar Hill project.
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