VMPL
Mumbai (Maharashtra) [India], September 17: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India’s most trusted and admired real estate developers, has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai. Spread across 4.68 acres, the project offers a total developable potential of approximately 1.05 million sq. ft. and an estimated Gross Development Value (GDV) of ₹2,600 crore. The addition marks Puravankara’s eighth redevelopment project in Mumbai and further strengthens its presence in the city’s redevelopment market.
Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, “Redevelopment is an important pillar of our Mumbai growth strategy and allows us to participate in some of the city’s most established and sought-after neighbourhoods. Our eighth redevelopment project reflects the momentum we have built in Mumbai and the confidence homebuyers are placing in our brand. We see a significant opportunity to build a scaled and sustainable redevelopment platform in the city, backed by disciplined capital allocation, strong execution and a long-term approach to value creation.”
Located in the western suburbs, Goregaon West is a well-established residential market with strong connectivity to key business districts and social infrastructure. The project further expands Puravankara’s footprint in one of Mumbai’s important residential corridors.
Rajat Rastogi, CEO-West & Commercial Assets, Puravankara Limited, added, “Mumbai’s redevelopment opportunity is about more than adding new supply; it is about reimagining some of the city’s most established neighbourhoods. With projects across marquee locations including Breach Candy, Pali Hill, Lokhandwala, Malabar Hill, Cuffe Parade and now Goregaon West, we are steadily expanding our presence across the city as we rebuild Mumbai’s skyline. Our approach is anchored in the Puravankara way of life: thoughtful design, quality, transparency and a strong focus on the people and communities we build for. With this addition, our Mumbai redevelopment portfolio alone represents a potential GDV of approximately ₹17,500 crore.”
Over the past three years, Puravankara has steadily expanded its Mumbai redevelopment portfolio across locations including Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade. The Goregaon West project adds another established residential micro-market to this portfolio and underscores the company’s continued focus on redevelopment as a key growth engine in Mumbai.
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