Puravankara Secures ₹2,700 Cr Redevelopment at Malabar Hill

Bengaluru-headquartered realty firm, Puravankara Ltd has secured the redevelopment rights for a premium residential society in Malabar Hill with an estimated revenue potential of Rs 2,700 crore.

In a press release, the company said that the project spans 1.43 acres and offers a development potential of 0.7 million square feet. It will provide modern homes for existing residents while unlocking a significant portion for sale in the open market.

The company said that its subsidiary Purva Blue Agate Private Limited has received a Letter of Award for redevelopment of the society belonging to Samrat Ashok Co-operative Housing Society Ltd. Notably, Malabar Hill is one of Mumbai’s most sought-after neighbourhoods.

"We are delighted to make our foray into Malabar Hill, one of Mumbai’s most prestigious addresses. With its location, scale, and luxury positioning, this project is in perfect alignment with our strategy of expanding into key strategic markets across the city," Ashish Puravankara, Managing Director, Puravankara Ltd said.

In July 2025, Puravankara has been selected as the preferred developer for eight residential society redevelopments in Chembur, with a combined development potential of 1.2 million square feet and an estimated GDV (Gross Development Value) of Rs 2,100 crore.