Realty firm Puravankara Ltd has bagged a project to redevelop a housing society in Mumbai's Malabar Hill, and the company is expecting a revenue of around Rs 2,700 crore from the saleable area.
In a regulatory filing on Monday, the company informed that its subsidiary Purva Blue Agate Private Limited has received a Letter of Award for redevelopment of the society belonging to Samrat Ashok Co-operative Housing Society Ltd.
This 1.43-acre project offers a development potential of 7 lakh square feet, providing new, premium homes for existing residents while also creating a substantial portion for sale.
The estimated revenue potential from this upcoming project is Rs 2,700 crore, the company said.
Bengaluru-based Puravankara Ltd is one of the leading real estate developers in the country.
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