September 2, 2025: A major redevelopment initiative has been unveiled in South Mumbai, with a listed Bengaluru-based developer securing rights for a prime residential society in Malabar Hill. The project, spread across 1.43 acres, offers a development potential of 0.7 million square feet and carries an estimated gross development value (GDV) of Rs 2,700 crore.
The developer confirmed that the plan is to create an exclusive residential enclave designed to set new benchmarks in luxury living in Mumbai. “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, the project aligns perfectly with our strategy of expanding into key markets across the city,” said Managing Director Ashish Puravankara.
This marks the company’s second major redevelopment in South Mumbai. In September 2024, it had secured the rights to redevelop Miami Apartments at Breach Candy. More recently, in July 2025, it announced the redevelopment of eight residential societies in Chembur, offering over 1.2 million square feet of development potential and an estimated GDV of Rs 2,100 crore.
According to Rajat Rastogi, CEO – West and Commercial Assets, the addition of the Malabar Hill project significantly strengthens the company’s Mumbai portfolio and reinforces its growing role in the city’s redevelopment story. “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,” he said.
Over the past two years, the company has also announced projects in Breach Candy, Pali Hill in Bandra, and Lokhandwala in Andheri.
Source: Hindustan Times
