Puravankara Shares Surge 7% as Subsidiary Bags Prestigious Malabar Hill Redevelopment Project
Puravankara shares saw a significant rise of 7% on September 2, 2025, following the announcement of a major redevelopment project in Mumbai’s ultra-premium Malabar Hill locality. The project, undertaken by Puravankara’s subsidiary, Purva Blue Agate Pvt Ltd, is expected to generate substantial revenue and further solidify the company’s position in Mumbai’s redevelopment market.
PuravankaraMalabar HillReal EstateRedevelopmentShare PriceReal Estate NewsSep 02, 2025
The sharp uptick in Puravankara's stock came after the company announced a major redevelopment win in Mumbai’s ultra-premium Malabar Hill locality, via its wholly owned subsidiary, Purva Blue Agate Pvt Ltd. The 1.43-acre site offers a development potential of 0.7 million square feet and is expected to generate revenue worth ₹2,700 crore. It aims to provide luxurious new homes for current residents while creating major inventory for sale in the open market.
“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,” said Ashish Puravankara, managing director, Puravankara Limited.
The announcement follows closely on the heels of the company’s July 2025 milestone, where it was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur. That project encompasses over 1.2 million square feet of development potential, with an estimated Gross Development Value (GDV) of ₹2,100 crore.
“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,” said Rajat Rastogi, CEO of west & commercial assets, Puravankara Limited.
Over the past two years, Puravankara has steadily expanded its redevelopment portfolio with notable projects in Breach Candy, Pali Hill, and Lokhandwala. The latest addition at Malabar Hill further cements its position as a major player in Mumbai’s rapidly evolving redevelopment ecosystem.
Frequently Asked Questions
What caused the surge in Puravankara shares?
The surge in Puravankara shares was primarily due to the company's announcement of a major redevelopment project in Mumbai’s ultra-premium Malabar Hill locality. This project, undertaken by Puravankara’s subsidiary, Purva Blue Agate Pvt Ltd, is expected to generate significant revenue.
What is the development potential of the Malabar Hill project?
The Malabar Hill project offers a development potential of 0.7 million square feet and is expected to generate revenue worth ₹2,700 crore. It aims to provide luxurious new homes for current residents and create major inventory for sale in the open market.
What other major redevelopment projects has Puravankara undertaken?
Puravankara has undertaken notable redevelopment projects in Chembur, Breach Candy, Pali Hill, and Lokhandwala. These projects have collectively added to the company’s growing portfolio in Mumbai’s redevelopment market.
What is Puravankara’s strategy for expanding into strategic markets?
Puravankara’s strategy for expanding into strategic markets involves a focus on design excellence, transparency, and timely delivery. The company aims to create world-class homes while contributing to the urban fabric of key cities like Mumbai.
What is the current market value of Puravankara’s redevelopment portfolio in Mumbai?
Puravankara’s redevelopment portfolio in Mumbai stands at 4.25 million square feet, with a potential Gross Development Value (GDV) of ₹10,500 crore. This portfolio includes projects in Malabar Hill, Chembur, Breach Candy, Pali Hill, and Lokhandwala.
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