October 13, 2025: Bengaluru-based real estate major Puravankara Ltd has announced two landmark redevelopment projects in Mumbai — one in the upscale Malabar Hill and another in Chembur — marking a major expansion of its western India portfolio. Together valued at around Rs 4,800 crore, the developments form a key part of the company’s strategy to strengthen its presence in the city’s premium and emerging residential zones.
The Malabar Hill project spans 1.43 acres and offers 0.7 million sq. ft. of development potential, estimated at Rs 2,700 crore. Meanwhile, the Chembur redevelopment covers 4 acres, with a potential 1.2 million sq. ft. of built-up area, valued at around Rs 2,100 crore, according to a report by Hindustan Times.
These projects are part of Puravankara’s broader expansion across India. The company added four major projects — two each in Mumbai and Bengaluru — in the first half of the current financial year, with a combined Gross Development Value (GDV) of Rs 9,100 crore.
“Our growth momentum remains strong, supported by sustained demand and timely project execution,” said Ashish Puravankara, Managing Director, Puravankara Ltd. “In the first half of FY26, we expanded our portfolio with over 6.36 million square feet of developable area worth around Rs 9,100 crore.”
The company also reported pre-sales of Rs 1,322 crore in Q2 FY26, a 4% year-on-year increase, with total first-half pre-sales reaching Rs 2,445 crore. Average realisation rose 7% year-on-year to ₹8,814 per sq. ft., according to PTI.
Industry analysts believe the move underscores growing national developer interest in Mumbai’s redevelopment segment, driven by escalating property values and scarce land supply. With these marquee projects, Puravankara aims to cement its position as a significant player in Mumbai’s high-value housing market.
Source: The Free Press Journal
