Puravankara to Redevelop 8 Societies in Mumbai, Targeting Rs 2,100 Crore Revenue
Bengaluru-based real estate developer Puravankara is set to redevelop eight residential societies in Mumbai’s Chembur area, with an estimated gross development value (GDV) of Rs 2,100 crore. This move further cements the company's presence in the city's redevelopment market.
PuravankaraReal EstateRedevelopmentMumbaiGross Development ValueReal Estate NewsJul 07, 2025
Puravankara already holds rights for redevelopment projects in Mumbai’s prestigious areas such as Breach Candy, Pali Hill, and Lokhandwala. These projects highlight the company’s growing presence in the redevelopment segment in the western region. Ashish Puravankara, Managing Director (MD) of Puravankara Limited, stated, “Securing marquee redevelopment projects in highly sought-after Mumbai neighborhoods such as Breach Candy, Pali Hill, Lokhandwala, and now Chembur is a strong validation of the trust discerning societies and residents place in the Puravankara brand.”
The redevelopment project in Chembur will unlock a total development potential of over 1.2 million square feet, spread across approximately four acres. This addition will further bolster Puravankara’s commitment to strengthening its footprint in the western region. With 11 projects across Mumbai and Pune, spanning approximately 14 million square feet (msf), including 3.6 msf in redevelopment, the company is well-positioned to capitalize on the region’s real estate market.
According to Puravankara, the western region is expected to contribute a GDV of approximately Rs 18,000 crore, with approximately Rs 7,700 crore coming from redevelopment alone. Rajat Rastogi, CEO-West and Commercial Assets at Puravankara, highlighted the significance of this achievement, especially as the company celebrates its golden jubilee year. “This milestone not only reinforces our position as a trusted partner in the redevelopment space but also strengthens our presence in Mumbai’s competitive real estate market. We remain committed to driving innovation and delivering value to all stakeholders, residents, partners, and the communities we serve,” he said.
Puravankara has a robust presence in several cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. As of March 31, 2025, Puravankara has completed more than 90 projects measuring 53 million square feet (msf) across nine cities. The company’s total developable land bank stands at 25 msf, with ongoing projects adding up to 37 msf.
At 11:44 am, the Puravankara stock was trading at Rs 291.65 on the National Stock Exchange, marking a 3.04 percent increase from the previous close.
Frequently Asked Questions
What is the estimated gross development value (GDV) of Puravankara's redevelopment project in Chembur?
The estimated gross development value (GDV) of Puravankara's redevelopment project in Chembur is Rs 2,100 crore.
How many residential societies will Puravankara redevelop in Chembur?
Puravankara will redevelop eight residential societies in Chembur.
Where else does Puravankara have redevelopment projects in Mumbai?
Puravankara already has redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala areas.
What is the total developable land bank of Puravankara as of March 31, 2025?
As of March 31, 2025, Puravankara’s total developable land bank stands at 25 million square feet (msf).
How many projects has Puravankara completed across nine cities as of March 31, 2025?
As of March 31, 2025, Puravankara has completed more than 90 projects measuring 53 million square feet (msf) across nine cities.
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