Synopsis:
M/s. Samrat Ashok Co-operative Housing Society Limited has placed a domestic redevelopment project worth Rs. 2,700 crores with M/s. Purva Blue Agate Private Limited, a subsidiary of Puravankara Limited.
The shares of one of the leading small-cap companies engaged in real estate development, construction, and residential and commercial property development in the radar after securing a redevelopment project.
With a market capitalization of Rs.6,924.77 crore, the shares of Puravankara Limited were trading at Rs.292.80, up by 2.27 percent from the previous day’s closing price of Rs.286.30.
Work Order
Purva Blue Agate Private Limited, a wholly owned subsidiary of Puravankara Limited, has been awarded a Rs. 2,700 crore contract to redevelop a 1.43-acre residential property in Malabar Hill, Mumbai, with a development potential of 0.7 million square feet. The project will offer premium housing to existing residents and aid in the additional units for sale.
In July 2025, Puravankara Limited was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, with a total project size of 1.2 million square feet and an estimated value of Rs.2,100 crore
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Management Commentary
Puravankara Limited’s CEO, Mr. Rajat Rastogi, commented as follows:” The addition of Malabar Hill further strengthens our Mumbai portfolio and underscores our growing role in the city’s redevelopment story.
This is our second major redevelopment in South Mumbai after the Miami Apartments at Breach Candy. With a sharp focus on design excellence, transparency, and timely delivery, we continue to be the trusted partner for societies embarking on redevelopment. With this acquisition, our redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crores.”
Puravankara is a leading real estate developer with over 50 years of experience and a presence in nine cities across India. The company operates three housing brands, a tech-driven construction arm, an interior design division, and has expanded into Grade-A commercial real estate.
As of June 2025, it has delivered 92 projects covering 54 million square feet, with a land bank of 30 million square feet. and 35.75 million square feet are ongoing projects.
The company’s revenue from operations declined from Rs.658.3 crore in Q1 FY25 to Rs.524.4 crore in Q1 FY26, while net profit fell from Rs.14.78 crore to a loss of Rs.68.55 crore. It reported a negative ROE of 9.99 percent and an ROCE of 6.06 percent.
Written By Jhanavi Sivakumar
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