Puravankara Gets ₹2,700 Crore Malabar Hill Redevelopment Project; Shares Up More than 3%

Mumbai, September 2, 2025: Puravankara Limited (NSE: PURVA | BSE: 532891) announced that its wholly-owned subsidiary, Purva Blue Agate Pvt Ltd, has secured redevelopment rights for a residential project in the residential heart of Malabar Hill, Mumbai, which has a gross development value (GDV) potential of ₹2,700 crore. The stock jumped 3.08% to ₹294.30 in early Tuesday trade after the announcement.

Puravankara Secures 1.43-Acre Malabar Hill Site, ₹2,700 Cr GDV

The 1.43-acre site in Malabar Hill, South Mumbai, will be developed into a 0.7 million sq. ft. premium residential development. The development intends to provide the current inhabitants with contemporary houses, while enabling additional premium housing units to be sold, with a greater estimated GDV potential of ₹2,700 crore, changing the perception of luxury within the area.

MD Highlights Strategic Entry into Malabar Hill Luxury Segment

Ashish Puravankara, Managing Director, stated that the project marked a significant entry into Malabar Hill, one of Mumbai’s premier neighborhoods. “The location, scale and opportunity to position the project in a luxury segment aligns with our strategy of positioning ourselves into key strategic markets in the city,” said Ashish Puravankara.

Rajat Rastogi, CEO – West & Commercial Assets, added that with this addition, the Mumbai redevelopment portfolio of Puravankara will now total 4.25 million sq. ft. with an expected GDV of ₹10,500 crore. “This is our second major redevelopment in South Mumbai since the Miami Apartments at Breach Candy,” said Rajat Rastogi.

Malabar Hill Deal Boosts Mumbai Footprint After ₹2,100 Cr Chembur Win

The announcement comes on the heels of Puravankara’s July 2025 announcement as the preferred developer for eight societies in Chembur with a GDV of ₹2,100 crore. The Malabar Hill deal further strengthens the company’s increasing footprint in Mumbai’s redevelopment sector.

Shares Rise 2.28% to ₹292 at Midday, Intraday High Hits ₹305

At 11:46 a.m. IST, Puravankara shares were traded at ₹292.00, meaning an increase of 6.50 (2.28%) from the previous close of ₹285.50. The stock hit an intraday high of ₹305.00, with an intraday low of ₹290.60 so far. The company’s current market capitalization is ₹6,979.43 crore. Over the last 52 weeks, the stock has reached a high of ₹470.00 and a low of ₹208.70. This depicts a high level of fluctuations within the real estate industry.

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REF: https://nsearchives.nseindia.com/corporate/PURVA_01092025173415_NSESEintimationsd.pdf

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