Puravankara bags redevelopment rights with GDV Rs. 2600 Cr.

Puravankara bags redevelopment rights for 3 residential societies in Mumbai with a GDV of ₹2,600 crore

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Puravankara Limited has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai, marking its eighth in Mumbai. The project, spread across 4.68 acres has a total developable potential of approximately 1.05 million sq. ft. and an estimated Gross Development Value (GDV) of ₹2,600 crore. The company already holds redevelopment projects across locations including Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade. Commenting on the development, Ashish Puravankara, Managing Director, Puravankara Limited, said, “Redevelopment is an important pillar of our Mumbai growth strategy and 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 Goregaon West project adds another established residential micro-market to this portfolio, and the company sees redevelopment becoming an important strategy to grow in the Mumbai market. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24