Puravankara Enters Malabar Hill with Ambitious Luxury Redevelopment

Puravankara Limited acquires redevelopment rights for a prime residential society in Mumbai's Malabar Hill. This 1.43-acre project aims to redefine luxury living with a development potential of 0.7 million square feet. The project boosts Puravankara's impressive Mumbai portfolio to 4.25 million square feet.

Puravankara Limited, a prominent name in India's real estate sector, has announced its entry into Mumbai's prestigious Malabar Hill through the acquisition of redevelopment rights for a prime residential society. The move is facilitated by Purva Blue Agate Pvt Ltd, a wholly owned subsidiary of the company.

This exciting project spans 1.43 acres and boasts a development potential of 0.7 million square feet. It promises to offer luxurious homes to existing residents while earmarking a significant portion for sale. With an estimated revenue potential of Rs 2,700 crores, this redevelopment is set to redefine luxury living in South Mumbai, according to Managing Director Ashish Puravankara.

Building on its successful portfolio, Puravankara strengthens its foothold in Mumbai with this acquisition, enhancing a redevelopment pipeline across key areas like Breach Candy, Pali Hill, and Lokhandwala. As it celebrates its 50th year, the company remains committed to delivering sustainable, well-designed developments reflective of today's urban needs.

(With inputs from agencies.)