Puravankara Secures ₹2,600 Crore Redevelopment Project in Goregaon West, Mumbai
Puravankara Limited (NSE: PURVA | BSE: 532891) has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai, in a project with an estimated Gross Development Value (GDV) of ₹2,600 crore.
The project, spread across 4.68 acres, has an estimated total developable potential of approximately 1.05 million sq. ft. The addition marks Puravankara’s eighth redevelopment project in Mumbai, further expanding its presence in the city’s redevelopment market.
₹2,600 Crore Goregaon West Redevelopment Project
According to the company’s announcement dated September 17, 2026, the newly secured project covers three residential societies in Bangur Nagar, Goregaon West.
Key details include:
- Location: Bangur Nagar, Goregaon West, Mumbai
- Area: 4.68 acres
- Developable potential: Approximately 1.05 million sq. ft.
- Estimated GDV: ₹2,600 crore
- Project type: Residential redevelopment
- Puravankara’s Mumbai redevelopment projects: 8
Goregaon West is an established residential market in Mumbai’s western suburbs, with connectivity to major business districts and access to established social infrastructure.
Puravankara Expands Mumbai Redevelopment Portfolio
Puravankara said redevelopment remains an important part of its Mumbai growth strategy. Over the past three years, the company has added redevelopment projects across several established Mumbai locations.
Its redevelopment portfolio includes projects in areas such as Breach Candy, Pali Hill, Lokhandwala, Chembur, Malabar Hill and Cuffe Parade, along with the newly announced Goregaon West project.
The company stated that its Mumbai redevelopment portfolio represents a potential GDV of approximately ₹17,500 crore.
Ashish Puravankara, Managing Director of Puravankara Limited, said the company sees a significant opportunity to build a scaled redevelopment platform in Mumbai, supported by disciplined capital allocation, execution and a long-term approach to value creation.
What the Goregaon Project Means for Puravankara
The Goregaon West project adds approximately 1.05 million sq. ft. of developable potential to Puravankara’s redevelopment pipeline.
For the company, the project is significant because it:
- Expands its presence in Mumbai’s western suburbs.
- Adds another large residential redevelopment opportunity to its pipeline.
- Increases the scale of its Mumbai redevelopment portfolio.
- Provides potential future revenue and cash-flow opportunities as the project progresses.
- Strengthens Puravankara’s focus on redevelopment as a growth engine in Mumbai.
However, the ₹2,600 crore figure is an estimated GDV, rather than reported revenue or profit. The eventual financial contribution will depend on project execution, approvals, sales, construction costs, financing and market conditions.
Management Commentary
Rajat Rastogi, CEO-West & Commercial Assets, Puravankara Limited, said the company’s Mumbai redevelopment strategy is focused on established neighbourhoods and that the company is expanding its presence across multiple prominent locations.
He added that the company’s Mumbai redevelopment portfolio now represents a potential GDV of approximately ₹17,500 crore.
Puravankara’s Existing Project Portfolio
As of June 30, 2026, Puravankara had completed 97 projects, covering approximately 59 million sq. ft. across nine cities.
The company has a total land bank of approximately 40 million sq. ft., while ongoing projects account for approximately 35.14 million sq. ft.
Its operations span Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.
Investor Takeaway
The Goregaon West redevelopment project is a material business-development announcement for Puravankara, given its ₹2,600 crore estimated GDV and approximately 1.05 million sq. ft. development potential.
The key factor for investors to track going forward will be how quickly the project moves through approvals, launch, sales and construction, and how the broader ₹17,500 crore Mumbai redevelopment pipeline translates into actual bookings, revenue and cash flows over time.
Company: Puravankara Limited
NSE Symbol: PURVA
BSE Code: 532891
Announcement Date: September 17, 2026
Project GDV: ₹2,600 crore
Developable Potential: Approximately 1.05 million sq. ft.
Project Area: 4.68 acres
Location: Goregaon West, Mumbai
Disclaimer
This article is based on information disclosed by Puravankara Limited in its stock-exchange filing dated September 17, 2026. The estimated GDV is a company-provided project estimate and should not be interpreted as guaranteed revenue or profit. This article is for informational purposes only and does not constitute investment advice.