Rajat Rastogi, CEO-West and Commercial Assets, Puravankara Ltd Limited, added, “After receiving a phenomenal response for our existing project in Chembur (Purva Clermont), our expansion in this micro-market will strengthen our footprint further.”
After securing the development rights for marquee locations such as Breach Candy, Pali Hill, and Lokhandwala, Bengaluru-based real estate developer Puravankara has now won the redevelopment mandate for eight residential societies in Chembur, Mumbai. The project offers a total development potential of over 1.2 million square feet, spread across approximately 4 acres, with an estimated gross development value (GDV) of ₹2,100 crore.
Commenting on the development, Ashish Puravankara, Managing Director of Puravankara Ltd , said,“With 11 projects across Mumbai and Pune spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment, we are committed to strengthening our footprint in the western region. The region is expected to contribute a GDV of approximately ₹18,000 crore, of which around ₹7,700 crore will come from redevelopment alone.
Rajat Rastogi, CEO-West and Commercial Assets, Puravankara Ltd , added, “After receiving a phenomenal response for our existing project in Chembur (Purva Clermont), our expansion in this micro-market will strengthen our footprint further.”
Joint venture
Recently, the company announced a joint venture with KVN Property Holdings to develop a 24.59-acre land parcel in North Bengaluru.
For Q4FY25, the company recorded a consolidated net loss of ₹85.82 crore for the fourth quarter of FY25, a 13 times year-on-year (y-o-y) increase in loss, compared to ₹6.59 crores in Q4FY24. The company’s revenue from operations for the quarter stood at ₹541.57 crore, down 41 per cent from ₹919.97 crore in Q4 last year.
Published on July 7, 2025
