Puravankara Share Price Surges on ₹2,100 Crore Redevelopment Projects in Mumbai

Puravankara Ltd. has bagged redevelopment rights for 8 residential societies in Chembur, Mumbai. The company disclosed this in a stock exchange filing on Tuesday.

The projects cover roughly four acres and include Sahyagiri CHS, Rainbow CHS, Sunbeam CHS, and several Deonar housing societies. The total development potential is estimated at over 1.2 million sq. ft.

Estimated Value Of Project 

The gross development value (GDV) of the Chembur projects stands at ₹2,100 crore. These add to Puravankara’s redevelopment footprint in Mumbai, following earlier acquisitions in Breach Candy, Pali Hill, and Lokhandwala.

Puravankara now has 11 projects in Mumbai and Pune, covering nearly 14 million sq. ft. Of this, around 3.6 million sq. ft. falls under redevelopment. The total GDV from the western region is expected to be ₹18,000 crore, including ₹7,700 crore from redevelopment.

Company Background

The Bengaluru-headquartered firm has completed over 90 projects totalling, 53 million sq. ft. across cities such as Chennai, Hyderabad, Kochi, and Pune. It also holds a land bank of 25 million sq. ft., with ongoing developments across 37 million sq. ft.

Adani-MHADA Deal Announced Same Day

On the same day, the Adani Group signed an agreement with MHADA to redevelop Motilal Nagar in Goregaon (West), Mumbai. The 142-acre project includes free rehabilitation into 1,600 sq. ft. apartments for existing residents.

Read more: IDFC First Bank Gets Govt Nod to Raise Stake in Niraj Kakkad Constructions Beyond 30%!

Puravankara Share Price Performance 

As of 10:09 AM on July 9, 2025, Puravankara share price was at ₹293, a 2% increase. The stock is down 22.63% over the past 6 months but up 41.92% over the past year.

Conclusion

The Chembur projects mark another addition to Puravankara’s redevelopment pipeline in Mumbai, as activity continues in high-density urban zones despite market-wide pressure.

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