Puravankara Ltd, a real estate developer, has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai.
Spread across 4.68 acres, the project has a total developable potential of approximately 1.05 million sq. ft. and an estimated Gross Development Value (GDV) of ₹2,600 crore.
Eighth redevelopment project in Mumbai
The addition marks Puravankara’s eighth redevelopment project in Mumbai and strengthens its presence in the city’s redevelopment market.
Located in Mumbai’s western suburbs, Goregaon West is an established residential market with connectivity to key business districts and social infrastructure.
The project further expands Puravankara’s footprint in one of Mumbai’s important residential corridors.
Management comment
“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,” Puravankara, Managing Director, Ashish Puravankara, said.
“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,” Puravankara, CEO-West & Commercial Assets, Rajat Rastogi, said.
Mumbai portfolio reaches ₹17,500 crore GDV
“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,” he said.
Over the past three years, Puravankara has steadily expanded its Mumbai redevelopment portfolio. The Goregaon West project adds another established residential micro-market to the portfolio.
Redevelopment remains key growth engine
The company said the addition underscores its continued focus on redevelopment as a key growth engine in Mumbai.
With the new project, Puravankara is expanding its presence across established residential locations while building a larger redevelopment portfolio in the city.