PURAVANKARA PURVA BLUE AGATE (MALABAR HILL REDEVELOPMENT) — New Project Coming Up in Malabar Hill, Mumbai
Puravankara Enters Malabar Hill With Major Redevelopment
Through its subsidiary Purva Blue Agate Pvt Ltd, Puravankara has secured redevelopment rights for a residential society spanning 1.43 acres, with approximately 0.7 million square feet of luxury housing planned. The project carries a projected revenue potential of Rs 2,700 crores.
The announcement, made in September 2025, marks the developer's second major redevelopment in South Mumbai after the Miami Apartments at Breach Candy.
Project Scope and Resident Benefits
The project will deliver premium residences for existing society members while unlocking a substantial inventory for sale, setting a new benchmark for luxury living in the city. The 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 offers ultra-premium 3 BHK and 4 BHK residential flats equipped with modern amenities and smart home automation.
Location and Market Context
Malabar Hill is one of Mumbai's most exclusive and prestigious neighbourhoods, home to the Chief Minister's official residence and several foreign consulates, sitting on a hilltop in South Mumbai overlooking the Arabian Sea and Hanging Gardens.
South Mumbai's Malabar Hill is undergoing a significant transformation with the redevelopment of colonial-era bungalows into ultra-luxury residential towers. As of the September 2025 quarter, Malabar Hill has about ten marketable projects launched by leading developers such as Lodha Group, Birla Estates, and JSW Realty.
Puravankara's Expanding Mumbai Portfolio
With this acquisition, Puravankara's redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crores. The 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.
Founded in 1975 and headquartered in Bangalore, Puravankara Limited is one of India's most respected real estate developers. With over five decades of experience, the company has delivered more than 100 landmark projects across Bangalore, Mumbai, Pune, Chennai, Kochi, and Coimbatore.