Tag: Ashish Puravankara

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Puravankara Subsidiary Wins Malabar Hill Redevelopment Project

NEW DELHI: Puravankara, through its wholly owned subsidiary Purva Blue Agate, has secured redevelopment rights for a residential society located in Malabar Hill, Mumbai. This 1.43-acre project has the potential for 0.7 million sq ft of development, which will provide new homes for current residents as well as create a significant number of units for sale. “With this acquisition, our redevelopment portfolio in Mumbai now amounts to 4.25 million sq ft, with a potential Gross Development Value (GDV) of ₹10,500 crore,” stated Rajat Rastogi, CEO – West & Commercial Assets at Puravankara. The projected revenue for this project is estimated…

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Puravankara reports ₹68.55 crore net loss in Q1 FY26

NEW DELHI: Puravankara reported a net consolidated loss after tax of ₹68.55 crore for the quarter ending June 30, 2025, compared to a profit after tax of ₹14.78 crore in the same quarter last year, as stated in a BSE filing. The company’s net consolidated total income for Q1 FY26 was ₹538.64 crore, reflecting a decline of 20.27% from ₹675.55 crore in the same quarter the previous year. Ashish Puravankara, the company’s managing director, commented, “Our handovers and sales did not meet expectations due to regulatory changes, including e-Khata and modifications in byelaws. Despite this, our team is optimistic about…

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Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

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Puravankara to Redevelop Eight Mumbai Societies

Representative image created by AI NEW DELHI: Puravankara has been chosen as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai. This project will unlock a total development potential of over 1.2 million sq ft across approximately four acres, with an estimated gross development value (GDV) of ₹2,100 crore. Ashish Puravankara, Managing Director of the company, stated, “With 11 projects in Mumbai and Pune covering around 14 million sq ft—including 3.6 million sq ft in redevelopment—we are dedicated to expanding our presence in the western region. This area is projected to contribute a GDV of around…