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Puravankara shares jump 7% on ₹2,100 crore redevelopment project

Shares of Puravankara rose nearly 7 per cent on Monday after it bagged projects to redevelop eight societies in Mumbai, with a gross development value (GDV) of ₹2,100 crore. The real estate firm's stock rose as much as 6.87 per cent during the day to ₹302.5 per share, the steepest intraday gain since June 19 this year. The stock trimmed some gains to trade 3.2 per cent higher at ₹292.1 apiece, compared to a 0.09 per cent decline in Nifty 50 as of 11:55 AM. Shares of the company rose for the third day on Monday and currently trade at 1.8 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 22.7 per cent this year, compared to a 7.7 per cent advance in the benchmark Nifty 50. Puravankara has a total market capitalisation of ₹6,974.57 crore. Track LIVE Stock Market Updates Puravankara to redevelop eight residential societies Puravankara was selected as the preferred developer for the redevelopment of eight residential societies in Chembur, Mumbai, according to an exchange filing on Monday. "This will unlock a total development potential of over 1.2 million square feet, spread over approximately 4 acres, with an estimated GDV of ₹2,100 crore." This announcement follows Puravankara's previous acquisitions of development rights for prestigious redevelopment projects in Mumbai's Breach Candy, Pali Hill, and Lokhandwala, the statement said. "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." With 11 projects across Mumbai and Pune, spanning approximately 14 million square feet, including 3.6 million square feet in redevelopment, the company is committed to strengthening its footprint in the western region, according to the statement. "The region is expected to contribute a GDV of approximately ₹18,000 crore, of which approximately ₹7,700 crore will come from redevelopment alone.' Puravankara Q4 results The Bengaluru-headquartered company saw its fourth quarter loss widen to ₹88 crore, from a loss of ₹6.71 crore in the same quarter last financial year. Revenue from operations for the quarter declined 40.4 per cent to ₹563.7 crore from ₹946.8 crore in the corresponding period of the previous year. The company's inventory rose to ₹430 crore in Q4FY25, up from ₹45.48 crore in the same quarter last year. About Puravankara Puravankara Limited, based in Bengaluru, is among India's top real estate developers. Established in 1975, the company has built a legacy of over 50 years, delivering high-quality homes with a strong focus on timely delivery, transparency, and innovation. With operations in cities such as Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, and Mangaluru, Puravankara was among the first Indian real estate companies to secure Foreign Direct Investment (FDI).