Mumbai-based real estate firm Platinum is preparing a portfolio of four residential projects along the city’s Coastal Road corridor, with a combined gross development value (GDV) exceeding Rs 13.5 billion. The developments cover approximately 226,000 sq. ft. of RERA carpet area for sale and include three ongoing projects and one proposed society redevelopment.
The ongoing developments are Platinum Oceanic in Khar West’s Carter Road area, Platinum Stellar on Main Avenue in Santacruz West and Platinum Vibe in Model Town, Versova. They offer around 45,000 sq. ft., 39,000 sq. ft. and 67,000 sq. ft. of carpet area, respectively.
The fourth project, the proposed redevelopment of Jai Versova society near Versova Beach, is expected to add approximately 75,000 sq. ft. of saleable carpet area to the portfolio.
Platinum founder and CEO Vishal Ratanghayra said the projects were planned to cater to demand for premium apartments with sea views. The developer intends to follow a disciplined funding strategy, releasing capital in line with construction progress while focusing on sales and collections.
The four developments together involve an estimated investment of Rs 2.6 billion. Internal accruals will contribute Rs 1 billion, while the remaining Rs 1.6 billion will be raised through institutional financing from ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank.
The projects are scheduled for completion in phases. Platinum Oceanic is expected to be ready for possession by the end of 2027. Platinum Stellar and Platinum Vibe are both targeted for completion in April 2030.
Construction has recently commenced on the flagship sea-facing redevelopment at Jai Versova society. The project, which is yet to be named, is expected to enter the market towards the end of 2026 and will require at least four years to complete.
The staggered timelines are intended to match funding requirements with construction milestones and enable the developer to manage sales and collections across the four projects.
Source: Construction World
