Puravankara Gains 3% on ₹2,100 Cr Chembur Redevelopment Contract
By Shishta Dutta | Published at: Jul 9, 2025 11:02 AM IST
Mumbai, July 9, 2025 – Shares of Puravankara Limited (NSE: PURVA, BSE: 532891) were in focus today, rising 3.05% after the company announced a major redevelopment order in Chembur, Mumbai. The contract involves eight co-operative housing societies.
The scope of development totals over 1.2 million square feet, spread over
approximately 4 acres with an estimated gross development value (GDV) of ₹2,100 crore. The project timeline is set according to the agreement with the societies.
As of 10:29 AM on July 9, the stock was trading at ₹294.85, up by 2.65% in the trading session.
Stock Snapshot (As of 10:29 IST)
| Metric | Value |
|---|---|
| Last Traded Price | ₹294.85 |
| Previous Close | ₹287.25 |
| Opening Price | ₹295.00 |
| Day High / Low | ₹297.00 / ₹293.70 |
| VWAP | ₹295.03 |
| 52-Week High / Low | ₹530.00 / ₹208.70 |
| Market Cap | ₹7,019.63 Cr |
| Free Float Market Cap | ₹1,700.64 Cr |
| Traded Volume (Lakhs) | 0.35 |
| Traded Value (₹ Cr.) | ₹1.04 |
| Annualised Volatility | 66.68 |
Redevelopment Deal Overview
Puravankara has been appointed as the developer for the redevelopment of the following eight cooperative housing societies in Chembur:
- Sahyagiri Co-operative Housing Society Ltd
- Rainbow Co-operative Housing Society Ltd
- Deonar Hill View Co-operative Housing Society Ltd
- Deonar Gulmohar Co-operative Housing Society Ltd
- Deonar Madhuban Co-operative Housing Society Ltd
- Sunbeam Co-operative Housing Society Ltd
- Deonar Avanti Co-operative Housing Society Ltd
- Deonar Parijat Co-operative Housing Society Ltd
Key Project Details
| Particulars | Details |
|---|---|
| Nature of Project | Residential Redevelopment |
| Location | Chembur, Mumbai |
| Total Area | Approx. 4 acres |
| Development Potential | Over 1.2 million sq. ft. |
| Estimated GDV | ₹2,100 crore |
| Execution Timeline | As per executed agreement |
| Promoter Group Interest | None |
| Related Party Transaction | No |
| Regulation Invoked | SEBI LODR Reg. 30 & Master Circular dated Nov 11, 2024 |
Regulatory Disclosure
As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company made the announcement confirming that this is a domestic residential contract with no related party involvement.
Strategic Outlook
The ₹2,100 crore project significantly boosts Puravankara’s presence in the Mumbai market. The win also supports its strategy of expanding into urban redevelopment. The addition of 1.2 million square feet to its project pipeline reflects strong business momentum and reinforces investor confidence. The announcement acted as a positive trigger for the stock, with investors responding to the project’s scale and revenue potential, resulting in a notable uptick in share price.
Company Overview
Puravankara Limited is a listed real estate developer headquartered in Bengaluru. It operates under multiple brands, including Puravankara, Provident Housing, and Purva Land, catering to both premium and affordable housing segments. The company was listed on August 30, 2007, and continues to strengthen its footprint in high-potential real estate corridors across India.
REF: https://nsearchives.nseindia.com/corporate/PURVA_08072025153601_SEintimationsd.pdf
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