Puravankara selected as developer for eight housing societies with development value of ₹2100 crore

Shares of real estate developer, Purvankara Ltd, will be in focus in Wednesday’s trading session after the company announced a major contract win in Mumbai. Shares closed 2.13% lower on Tuesday at ₹287 apiece on the NSE.

The company has been selected as the developer for the redevelopment of eight residential societies in Chembur, Mumbai, unlocking total development potential of over 1.2 million square feet, spread over approximately 4 acres, with an estimated gross development value (GDV) of ₹2,100 crore.

These eight societies include Sahyagiri Co-operative Housing Society Limited, Rainbow Co-operative Housing Society Limited, Deonar Hill View Co-operative Housing Society Limited, Deonar Gulmohar Co-operative Housing Society Limited, Deonar Madhuban Co-operative Housing Society Limited, Sunbeam Co-operative Housing Society Limited, Deonar Avanti Co-operative Housing Society Limited, and Deonar Parijat Co-operative Housing Society Limited.

This announcement follows Puravankara’s previous acquisitions of development rights for prestigious redevelopment projects in Mumbai’s Breach Candy, Pali Hill, and Lokhandwala. These strategic wins reflect Puravankara’s growing footprint in the redevelopment segment in the west region, underscoring its commitment to revitalising urban spaces with quality and integrity.

Earlier in June, the company’s Wholly Owned Subsidiary -- Starworth Infrastructure & Construction has received a Letter of Intent (LoI) for Civil and Finishes Works for the proposed Residential Apartment at ‘TRU AQUAPOLIS’ in Varthur, Bengaluru for Tru Dwellings. Broad consideration or size of the order(s)/contract(s) is ₹272.02 crore.

In the Q4FY25, the company’s total revenue for the quarter dropped 41% YoY to ₹541 crore as against ₹919 crore in the previous year’s similar quarter. Operationally, EBITDA dropped 73% YoY to ₹30 crore as compared to ₹113 crore in the previous year’s similar quarter. Lastly, the company reported a net loss of ₹87.9 crore as compared to a net loss of ₹5 crore.

Puravankara Projects Ltd is engaged in construction activity. In addition to the construction division, the company also has an interior works and modifications division that caters to any modifications required by customers for their apartments.