Puravankara Secures Premier Malabar Hill Project for Redevelopment
Real estate developer Puravankara made a significant announcement on September 2, 2025, by securing the redevelopment rights for a prime residential society in Malabar Hill, Mumbai. The project, undertaken through its wholly owned subsidiary, Purva Blue Agate, covers an area of 1.43 acres and offers a development potential of 0.7 million square feet (msf). This ambitious project is expected to generate an estimated revenue of Rs 2,700 crore, making it a substantial addition to Puravankara's portfolio.
Ashish Puravankara, Managing Director of Puravankara, expressed his enthusiasm about the project, stating, “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.”
The acquisition of the Malabar Hill project follows Puravankara's recent success in being selected as the preferred developer for the redevelopment of eight residential societies in Chembur in July 2025. This earlier project has a development potential of over 1.2 msf and an estimated Gross Development Value (GDV) of Rs 2,100 crore. Over the last two years, Puravankara has steadily built a robust redevelopment pipeline, with projects in Breach Candy, Pali Hill, Lokhandwala, and now Malabar Hill.
Rajat Rastogi, CEO – West and Commercial Assets at Puravankara, highlighted the significance of the Malabar Hill project, saying, “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 crore.”
Puravankara’s strategic expansion into key areas of Mumbai not only enhances its market presence but also demonstrates its commitment to revitalizing the city’s urban landscape. The company’s focus on luxury and high-quality development ensures that it remains a preferred choice for residents and investors alike.
