Puravankara Shares Surge 4% on Winning Mumbai Redevelopment Project
Puravankara Limited's shares saw a significant 4.4% increase on Wednesday, driven by the company's successful bid to redevelop eight residential societies in Chembur, Mumbai. The redevelopment project, with a total development potential of over 1.2 million square feet, is expected to contribute to the company's growing footprint in the western region.
Real EstatePuravankaraRedevelopmentMumbaiMarket CapitalisationReal Estate MumbaiJul 09, 2025
The company's market capitalisation stood at ₹6,962.71 crore. Its 52-week high was at ₹503.9 per share and the 52-week low was at ₹205.05 per share.
The buying interest on the counter came after the company announced that it bagged a redevelopment project of eight residential societies in Chembur, Mumbai. We write to inform you that Puravankara Limited (“The Company”), has been selected as the developer for the redevelopment of eight residential societies in Chembur, Mumbai, the filing read.
According to the filing, the following are the names of the societies for redevelopment: Sahyagiri Co-operative Housing Society, Rainbow Co-operative Housing Society, Deonar Hill View Co-operative Housing Society, Deonar Gulmohar Co-operative Housing Society, Deonar Madhuban Co-operative Housing Society, Sunbeam Co-operative Housing Society, Deonar Avanti Co-operative Housing Society, and Deonar Parijat Co-operative Housing Society.
The total development potential of these societies is over 1.2 million square feet, spread over approximately four acres, with an estimated gross development value (GDV) of ₹2,100 crore.
This announcement follows Puravankara’s previous acquisitions of development rights for prestigious redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala, the statement said. These strategic wins reflect Puravankara’s growing footprint in the redevelopment segment in the west region, underscoring its commitment to revitalising urban spaces with quality and integrity.
With 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment, the company is committed to strengthening its footprint in the western region. The region is expected to contribute a GDV of approximately ₹18,000 crore, of which approximately ₹7,700 crore will come from redevelopment alone.
About Puravankara
Puravankara Limited, based in Bengaluru, is among India’s top real estate developers. Established in 1975, the company has built a legacy of over 50 years, delivering high-quality homes with a strong focus on timely delivery, transparency, and innovation. With operations in cities such as Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, and Mangaluru, Puravankara was among the first Indian real estate companies to secure Foreign Direct Investment (FDI).
Frequently Asked Questions
Why did Puravankara's shares rise?
Puravankara's shares rose due to the company's successful bid to redevelop eight residential societies in Chembur, Mumbai, which increased investor confidence in the company's growth and strategic moves.
What is the total development potential of the redevelopment project?
The total development potential of the eight residential societies in Chembur, Mumbai, is over 1.2 million square feet, spread over approximately four acres.
What is the estimated gross development value (GDV) of the project?
The estimated gross development value (GDV) of the project is ₹2,100 crore.
What other notable projects has Puravankara won recently?
Puravankara has won development rights for prestigious projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala, further strengthening its footprint in the redevelopment segment.
How many projects does Puravankara have in the western region?
Puravankara has 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment.
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