Puravankara Unlocks $325M Malabar Hill Goldmine

Real estate developer Puravankara has secured the redevelopment rights for a housing society in Mumbai’s prestigious Malabar Hill, unlocking approximately 7 lakh sq. ft. of development potential with an estimated Gross Development Value (GDV) of ₹2,700 crore.

“With its prime location, scale, and luxury positioning, this project aligns perfectly with our strategy to expand in key micro-markets across Mumbai,” said Ashish Puravankara, Managing Director, Puravankara.

This marks one of the largest redevelopment projects in South Mumbai, enhancing the company’s Mumbai portfolio to 4.25 million sq. ft. with a cumulative GDV of ₹10,500 crore.

Puravankara has been actively growing its presence in the city through redevelopment-led opportunities. The company has previously acquired rights in Breach Candy, Pali Hill, and Lokhandwala, and is the preferred developer for eight societies in Chembur, cumulatively adding over 1.2 million sq. ft. with a GDV of ₹2,100 crore.

These acquisitions reflect robust demand and long-term growth potential in India’s most valuable and competitive real estate market.

News by Rahul Yelligetti.