Puravankara Limited Expands Footprint with Major Chembur Redevelopment
Puravankara Limited, a leading Indian real estate developer, has been chosen to redevelop eight residential societies in Chembur, Mumbai. This project expands their significant presence in the city's redevelopment segment, projected to deliver a gross development value of Rs 2,100 crore over 1.2 million square feet.

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In a major move, Puravankara Limited, one of India's leading real estate developers, has been tapped as the preferred developer for redeveloping eight residential societies in Mumbai's Chembur area. This project marks a strategic milestone for the company, unlocking over 1.2 million square feet of development potential across approximately 4 acres and estimating a gross development value of Rs 2,100 crore.
This selection follows Puravankara's successful acquisition of development rights for prime projects in other prestigious Mumbai locales, including Breach Candy, Pali Hill, and Lokhandwala. These victories underline the company's expanding presence in the city's redevelopment sector, reinforcing their commitment to enhancing urban spaces with quality and innovation. Ashish Puravankara, Managing Director, voiced that winning these sought-after projects highlights the trust communities place in their brand, which is bolstered by a design-led approach and unwavering focus on quality.
Currently managing 11 projects across Mumbai and Pune, covering approximately 14 million square feet, the company is poised to make a significant impact in the western region's redevelopment scene, with an expected figure of Rs 7,700 crore coming from redevelopment efforts. Rajat Rastogi, CEO-West and Commercial Assets, expressed honor in being selected for the Chembur project, emphasizing that the endeavor further strengthens Puravankara's presence in Mumbai while celebrating their 50th anniversary. The company's success is attributed to strong execution capabilities and a focus on customer-centric and sustainable urban living developments.
(With inputs from agencies.)