Puravankara bags two housing societies' redevelopment projects in Mumbai

Realty firm Puravankara Ltd has bagged two housing societies' redevelopment projects in Mumbai with a revenue potential of Rs 1,500 crore. In a statement, Bengaluru-based Puravankara Ltd said it has "secured the residential redevelopment rights for the two housing societies in the western suburbs of Mumbai". Situated in Andheri West, the project is spread over 3 acres. "It has a cumulative estimated development potential of 5.8 lakh square feet of carpet area, with approximately 3.65 lakh square feet available for sale and a potential Gross Development Value (GDV) of Rs 1,500 crore over the project's lifecycle," the statement said. Abhishek Kapoor, Group CEO of Puravankara Ltd, said this is a significant milestone as it marks our entry into the redevelopment segment. "This strategic move also underscores our commitment to expanding our footprint in Mumbai's thriving real estate market," Kapoor added. Puravankara Ltd has posted a consolidated net loss of Rs 11.22 crore in the Sept

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