Bengaluru-based realty firm Puravankara Limited has acquired the redevelopment rights for a prime residential society in Malabar Hill, Mumbai, through its wholly owned subsidiary, Purva Blue Agate.
The 1.43-acre project, with an estimated revenue potential of ₹2,700 crore, offers a development potential of 0.7 million square feet, providing new, premium homes for existing residents while also creating a substantial portion for sale.
This announcement comes close on the heels of Puravankara being selected as the preferred developer for the redevelopment of eight residential societies in Chembur (July 2025), with a development potential of over 1.2 million square feet and an estimated GDV of ₹ 2,100 crore.
With the new acquisition, according to Puravankara, its redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of ₹10,500 crore.
“The addition of Malabar Hill further strengthens our Mumbai portfolio and underscores our growing role in the city’s redevelopment story. This is our second major redevelopment in south Mumbai after Miami Apartments at Breach Candy,” said Rajat Rastogi, CEO – West & Commercial Assets, Puravankara Limited.