Press Release – 17 September 2026
Puravankara Limited (NSE: PURVA | BSE: 532891) announced that it has secured redevelopment rights for three residential societies situated in Bangur Nagar, Goregaon West, Mumbai. The site occupies 4.68 acres and offers a developable potential of approximately 1.05 million square feet. The company estimates the gross development value (GDV) of the Goregaon West project at ₹2,600 crore.
This acquisition represents Puravankara’s eighth redevelopment project in Mumbai and expands its portfolio‑wide GDV in the city to roughly ₹17,500 crore. The development adds to the firm’s presence in the western suburbs, a well‑established residential market noted for strong connectivity to key business districts and social infrastructure.
Ashish Puravankara, Managing Director of Puravankara Limited, stated that redevelopment is a core pillar of the firm’s Mumbai growth strategy, enabling participation in established neighbourhoods and reflecting the momentum built in the city. He highlighted the company’s disciplined capital allocation, strong execution, and long‑term value‑creation approach.
Rajat Rastogi, CEO – West & Commercial Assets, Puravankara Limited, emphasized that Mumbai’s redevelopment opportunity extends beyond new supply, aiming to reimagine the city’s established neighbourhoods. He referenced the company’s existing projects across marquee locations such as Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill, and Cuffe Parade, underscoring a steady expansion of its skyline‑rebuilding portfolio.
The press release concludes with a disclaimer noting that the announcement is provided under an arrangement with NRDPL and that PTI assumes no editorial responsibility for the content.