Mumbai-based real estate developer Platinum Corp. is expanding its presence along the city’s Coastal Road corridor, with four residential projects carrying a combined projected gross development value (GDV) exceeding Rs 1,350 crore.
The portfolio covers approximately 2.26 lakh sq. ft. of RERA carpet area available for sale and includes three ongoing developments and one upcoming redevelopment project.
The ongoing projects comprise Platinum Oceanic at Carter Road in Khar West, offering around 45,000 sq. ft. of carpet area; Platinum Stellar on Main Avenue in Santacruz West, spanning 39,000 sq. ft.; and Platinum Vibe in Model Town, Versova, with approximately 67,000 sq. ft. The fourth development involves the redevelopment of Jai Versova society near Versova Beach, which is expected to provide around 75,000 sq. ft. of saleable carpet area.
Together, the projects represent a significant addition to the developer’s residential portfolio, targeting demand for premium homes in Mumbai’s coastal neighbourhoods.
“With over ₹1,350 crore in projected GDV across four projects, we would be catering to the strong demand for luxury sea-facing apartments Our focus is on maintaining financial discipline, aligning capital deployment with construction milestones and converting this development potential into sales and collections,” said Vishal Ratanghayra, founder and CEO, Platinum Corp.
The company plans to invest a total of ₹260 crore across the four developments. Of this amount, ₹100 crore will come from internal accruals, while the remaining ₹160 crore will be sourced through institutional funding from ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank.
Construction and delivery timelines vary across the portfolio. Platinum Oceanic is scheduled for possession by the end of 2027, while Platinum Vibe and Platinum Stellar are expected to be completed in April 2030.
Work has also begun on the upcoming sea-facing redevelopment of Jai Versova society. The project, which has yet to be named, is expected to enter the market towards the end of 2026 and will require at least four years for completion.
The staggered timelines are intended to align funding with construction progress while supporting sales and collection planning across the developments.
Source: Construction Week
Pic Credit: Hindustan Times
