Puravankara Expands Luxury Redevelopment in Malabar Hill

Puravankara Limited announces a significant redevelopment project in Malabar Hill, Mumbai, enhancing its reputation as a leading real estate developer. The project, through subsidiary Purva Blue Agate Pvt Ltd, offers 0.7 million sq. ft. of luxury living space, with a revenue potential of Rs 2,700 crores.

Puravankara Limited, a renowned name in India's real estate sector, has unveiled plans for a high-profile redevelopment project at Malabar Hill, Mumbai. Through its subsidiary, Purva Blue Agate Pvt Ltd, the company has secured redevelopment rights for a significant residential society in this prime location.

The 1.43-acre site is set to offer approximately 0.7 million square feet of luxury housing, providing not only premium homes for current residents but also a substantial segment for sale. With a projected revenue potential of Rs 2,700 crores, this initiative aims to set a new standard of luxury living in South Mumbai.

According to Ashish Puravankara, Managing Director of Puravankara Limited, this project aligns with the company's strategy of expanding into key strategic markets across Mumbai. The redevelopment reinforces Puravankara's growing influence in the city's urban transformation, now boasting a redevelopment portfolio of 4.25 million square feet with a potential GDV of Rs 10,500 crores.

(With inputs from agencies.)