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Puravankara Enters Malabar Hill with Rs 27 Billion Project

2025-09-02

Puravankara Limited, one of India’s most respected real estate developers, has announced the acquisition of redevelopment rights for a prime 1.43-acre residential society in Malabar Hill, Mumbai, through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd. This marks the company's latest move into one of South Mumbai’s most prestigious neighbourhoods.

The project has a development potential of 0.7 million square feet, aimed at delivering new luxury homes for existing residents while also creating a significant inventory for sale. With an estimated gross development value (GDV) of Rs 27 billion, the high-end project is expected to set new benchmarks for upscale living in the city.

Ashish Puravankara, Managing Director of Puravankara Limited, stated:

"We are delighted to mark our foray into Malabar Hill, one of Mumbai’s most iconic addresses. This redevelopment project underlines our commitment to building world-class residences while contributing meaningfully to the city’s urban evolution. With its scale, location, and luxury orientation, it aligns with our strategic expansion across Mumbai."

The announcement follows closely after Puravankara was selected in July 2025 as the preferred developer for eight residential society redevelopments in Chembur, with a development potential of over 1.2 million sq. ft. and an estimated GDV of Rs 21 billion.

Rajat Rastogi, CEO – West & Commercial Assets at Puravankara, added:

"The addition of Malabar Hill significantly strengthens our presence in Mumbai and is our second major South Mumbai redevelopment after the Miami Apartments at Breach Candy. With this, our total redevelopment portfolio in the city now stands at 4.25 million sq. ft., with a combined GDV of Rs 105 billion. Our focus remains on design excellence, transparency, and timely delivery, making us a trusted partner for housing societies."

Over the past two years, Puravankara has expanded its redevelopment footprint in prime locations such as Breach Candy, Pali Hill, and Lokhandwala. The Malabar Hill acquisition further cements its position as a leading force in Mumbai’s transformation through community-led urban renewal, as the company celebrates 50 years of building sustainable and design-led urban communities.

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