Puravankara's Stock Surges After Securing Major Redevelopment Project
Puravankara Limited, a leading real estate developer, has seen its stock jump after securing a Rs. 2,700 crore redevelopment project in Malabar Hill, Mumbai. The project will add to the company's growing portfolio in the city.
Real EstateRedevelopmentPuravankara LimitedMalabar HillMumbaiReal EstateSep 02, 2025
Purva Blue Agate Private Limited, a wholly-owned subsidiary of Puravankara Limited, has been awarded a Rs. 2,700 crore contract to redevelop a 1.43-acre residential property in Malabar Hill, Mumbai. The project has a development potential of 0.7 million square feet and will offer premium housing to existing residents, along with additional units for sale.
In July 2025, Puravankara Limited was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, with a total project size of 1.2 million square feet and an estimated value of Rs. 2,100 crore. This further solidifies Puravankara's position in the Mumbai real estate market.
Puravankara Limited’s CEO, Mr. Rajat Rastogi, commented, “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 crores.”
Puravankara is a leading real estate developer with over 50 years of experience and a presence in nine cities across India. The company operates three housing brands, a tech-driven construction arm, an interior design division, and has expanded into Grade-A commercial real estate. As of June 2025, it has delivered 92 projects covering 54 million square feet, with a land bank of 30 million square feet and 35.75 million square feet of ongoing projects.
Despite the recent success, the company’s financial performance has seen a dip. Revenue from operations declined from Rs. 658.3 crore in Q1 FY25 to Rs. 524.4 crore in Q1 FY26, while net profit fell from Rs. 14.78 crore to a loss of Rs. 68.55 crore. It reported a negative ROE of 9.99 percent and an ROCE of 6.06 percent. However, the new project is expected to boost the company’s financial health and market position.
Frequently Asked Questions
What is the value of the redevelopment project Puravankara Limited has secured in Malabar Hill, Mumbai?
The redevelopment project in Malabar Hill, Mumbai, has been awarded to Puravankara Limited for a value of Rs. 2,700 crore.
What is the development potential of the Malabar Hill project?
The Malabar Hill project has a development potential of 0.7 million square feet.
How many residential societies in Chembur did Puravankara Limited secure for redevelopment in July 2025?
Puravankara Limited was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, with a total project size of 1.2 million square feet.
What is the current market capitalization of Puravankara Limited?
The current market capitalization of Puravankara Limited is Rs. 6,924.77 crore.
What is the potential GDV of Puravankara's redevelopment portfolio in Mumbai after the Malabar Hill project?
With the addition of the Malabar Hill project, Puravankara's redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crores.
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