Puravankara secures rights for redevelopment project in Mumbai’s Malabar Hill

Bengaluru: Puravankara Limited, a Bengaluru-based real estate developer, on Monday announced the acquisition of redevelopment rights for a prime residential society in Malabar Hill, Mumbai, through its wholly owned subsidiary, Purva Blue Agate Pvt Ltd.

This 1.43-acre project 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. The project has an estimated revenue potential of Rs 2,700 crore, the company said in a statement.

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 Rs 2,100 crores.

Over the last two years, Puravankara has steadily built a strong redevelopment pipeline with projects in Breach Candy, Pali Hill, and Lokhandwala. The latest addition at Malabar Hill reinforces the company’s position as a key player in Mumbai’s rapidly evolving redevelopment landscape.