Puravankara enters Malabar Hill with INR 2700 cr project

Bengaluru developer Puravankara Limited has bought redevelopment rights for a top residential society in Malabar Hill in South Mumbai, its foray into one of the city's most sought-after addresses.

Spread over 1.43 acres, the project has a development potential of 0.7 million sq. ft. and an estimated gross development value (GDV) of Rs.2,700 crore.

The project will be developed by Puravankara through its wholly owned subsidiary, Purva Blue Agate Pvt Lt, with the aim of developing a luxury residential enclave that will change the face of high-end living in Mumbai. 

Key highlights:

• Puravankara acquires 1.43-acre Malabar Hill project with 0.7 million sq. ft. development potential and Rs.2,700 crore GDV
• Second South Mumbai redevelopment after Miami Apartments at Breach Candy, expanding total Mumbai pipeline to 4.25 million sq. ft. with Rs.10,500 crore GDV
• Strong Mumbai presence built in two years, with projects in Breach Candy, Pali Hill, and Lokhandwala reinforcing focus on luxury redevelopment

Ashish Puravankara, Managing Director of Puravankara Limited, said, “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.”

This is Puravankara's second redevelopment venture in South Mumbai, after taking over Miami Apartments at Breach Candy in 2024. The company also revealed the redevelopment of eight residential complexes in Chembur in July 2025, with a potential of 1.2 million sq. ft. and a GDV of Rs.2,100 crore.

Also Read: Puravankara Intends to Deliver 2000 units over 2 million sq ft land Parcel by Q4FY24

Rajat Rastogi, CEO, West and Commercial Assets, further added, "Our second significant redevelopment in South Mumbai after Miami Apartments at Breach Candy. Our redevelopment pipeline in Mumbai is now 4.25 million sq. ft. with a GDV of Rs.10,500 crore following this acquisition."

Puravankara established a robust Mumbai foothold over the past two years through its ventures in Breach Candy, Pali Hill, and Lokhandwala, highlighting its position in the city's expanding redevelopment narrative.