PURAVANKARA MALABAR HILL — New Project Coming Up in Malabar Hill, Mumbai
Puravankara Enters Malabar Hill's Premium Residential Market
Puravankara Limited announced in September 2025 that its wholly-owned subsidiary, Purva Blue Agate Pvt Ltd, has secured redevelopment rights for a residential project in Malabar Hill, with a gross development value (GDV) potential of ₹2,700 crore. The 1.43-acre site will be developed into a 0.7 million sq. ft. premium residential development.
Project Scope and Vision
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. The development is expected to unlock approximately 0.7 million square feet of luxury residential space, catering to both existing society members and high-end buyers in the premium housing segment.
About Malabar Hill
Malabar Hill is an upscale residential locality in South Mumbai, known for its luxurious homes, sea-facing properties, and green surroundings, nestled along the Arabian Sea and offering stunning views of Marine Drive and Back Bay. The locality is one of Mumbai's most exclusive and prestigious neighbourhoods, home to the Maharashtra Chief Minister's official residence, foreign consulates and some of India's highest-valued residential properties.
South Mumbai's Malabar Hill is undergoing a significant transformation with the redevelopment of colonial-era bungalows into ultra-luxury residential towers, with approximately ten marketable projects by developers like Lodha Group and Birla Estates underway. Malabar Hill will soon benefit from Mumbai Metro Line 3, with the upcoming Grant Road station significantly enhancing north-south city connectivity.
Puravankara's Expanding Mumbai Footprint
Founded in 1975, Puravankara Limited is one of India's most admired and trusted developers. As of late 2025, Puravankara has completed 93+ projects totalling ~56 million sq ft across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa.
The company is set to further strengthen its Mumbai presence with upcoming launches in Thane, Malabar Hill, Breach Candy, Pali Hill, and Chembur, with approvals already received for Thane, Pali Hill, and Breach Candy. Over the last two years, Puravankara has steadily built a strong redevelopment pipeline with projects in Breach Candy, Pali Hill, and Lokhandwala.
Puravankara marked a defining entry into Mumbai's redevelopment segment, recording sales exceeding Rs. 800 crore at the launch of its first redevelopment project, Purva Estrella at Lokhandwala Circle, Andheri West, with Phase 1 witnessing exceptional traction of 85% initial inventory absorption.
Strategic Significance
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. Puravankara reported record FY26 sales of ₹7,407 crore, up 55% year-on-year, with Q4FY26 sales of ₹3,547 crore, the highest ever in a single quarter for the company.