Mumbai-based real estate developer, Platinum Corp, announced on October 27 that it will develop four residential projects along the Mumbai’s Coastal Road belt, projecting a Gross Development Value (GDV) of over ₹1,350 crore by investing ₹260 crore.
According to the company, the four projects will approximately have 2.26 lakh sq. ft. of RERA carpet area for sale.
The four projects include Platinum Oceanic at Carter Road, Khar West, with approximately 45,000 sq. ft. of carpet area; Platinum Stellar on Main Avenue in Santacruz West, with 39,000 sq. ft.; and Platinum Vibe in Model Town, Versova, with 67,000 sq. ft.
The fourth project includes the redevelopment of Jai Versova Society near Versova beach, with approximately 75,000 sq. ft. of carpet area for sale.
“Our growing presence along the Coastal Road belt reflects our confidence in the long-term potential of Mumbai’s Western suburbs and our commitment to building scale through disciplined capital allocation into ultra luxury residential developments. With over ₹1,350 crore in projected GDV across four projects, we would be catering to the strong demand for luxury sea facing apartments," said Vishal Ratanghayra, Founder and CEO, Platinum Corp.
{{/usCountry}}“Our growing presence along the Coastal Road belt reflects our confidence in the long-term potential of Mumbai’s Western suburbs and our commitment to building scale through disciplined capital allocation into ultra luxury residential developments. With over ₹1,350 crore in projected GDV across four projects, we would be catering to the strong demand for luxury sea facing apartments," said Vishal Ratanghayra, Founder and CEO, Platinum Corp.
{{/usCountry}}"The focus is on maintaining financial discipline, aligning capital deployment with construction milestones and converting this development potential into sales and collections. As connectivity improves and the region continues to evolve, we see opportunities to strengthen our presence further while delivering projects within planned timelines,” Ratanghayra said.
Investment figures
According to the company statement, the four projects represent a combined investment of ₹260 crore, of which ₹100 crore will be funded through internal accruals and ₹160 crore through institutional funding from ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank.
The projects are at different stages of development, with Platinum Oceanic scheduled for possession by the end of 2027, followed by Platinum Vibe and Platinum Stellar in April 2030.
Also Read: Mumbai redevelopment: Maharashtra bars society committee members, relatives from becoming developers
"The company said it has recently commenced work on its latest, yet-to-be-named flagship sea-touch redevelopment at Jai Versova society. The project is expected to launch for sale towards the end of 2026 and is anticipated to take at least four years to complete. This staggered development schedule aligns capital requirements with construction progress and allows the group to plan sales and collections across the portfolio," according to the company statement.