Puravankara to redevelop 8 Mumbai societies with ₹2,100 cr GDV potential

Puravankara to begin redevelopment of eight Chembur societies in Mumbai, unlocking 1.2 mn sq ft across 4 acres and reaffirming its western region real estate strategy

Bengaluru-based real estate firm Puravankara has said that it will soon start the redevelopment of eight residential societies in Chembur, Mumbai.

 

The company claimed that this project marked a significant milestone for it, unlocking a total development potential of over 1.2 million square feet (msf) across approximately 4 acres, with an estimated gross development value (GDV) of ₹2,100 crore.

 

The announcement comes after Puravankara’s earlier acquisitions of development rights for redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala. 

 

“Securing marquee redevelopment projects in highly sought-after Mumbai neighbourhoods such as Breach Candy, Pali Hill, Lokhandwala, and now Chembur is a strong validation of the trust, discerning societies and residents place in the Puravankara brand,” said Ashish Puravankara, managing director, Puravankara Limited.

 

Puravankara said that it now has 11 projects across Mumbai and Pune, spanning approximately 14 msf—including 3.6 msf under redevelopment. The company reaffirmed its commitment to strengthening its presence in the western region, which is expected to contribute a gross development value (GDV) of around ₹18,000 crore, with approximately ₹7,700 crore coming from redevelopment projects alone.

 

Over the past five decades, Puravankara has built three distinct residential brands, Purva, Provident Housing Limited (PHL), and Purva Land. 

 

As of March, Puravankara has delivered over 90 projects totaling ~53 msf across nine cities such as Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company holds a land bank of approximately ~25 msf, with ongoing projects covering around ~37 msf.