Real estate developer Puravankara on September 2, 2025, announced the acquisition of redevelopment rights for a prime residential society in Malabar Hill, Mumbai, through its wholly owned subsidiary, Purva Blue Agate. This 1.43-acre project offers a development potential of 0.7 million square feet (msf), providing new homes for existing residents while also creating a substantial portion for sale. The project comes with an estimated revenue potential of Rs 2,700 crore.
Ashish Puravankara, managing director, Puravankara, said, “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.”
This announcement comes close on the heels of Puravankara being selected as the preferred developer for the redevelopment of eight residential societies in Chembur (July 2025), with a development potential of over 1.2 msf and an estimated GDV of Rs 2,100 crore. Over the last two years, Puravankara has built a redevelopment pipeline with projects in Breach Candy, Pali Hill, Lokhandwala, and now Malabar Hills..
Rajat Rastogi, CEO – West and Commercial Assets, Puravankara, said, “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.”
