Platinum to Develop Four Projects Along Mumbai's Coastal Road Belt
Real Estate

Platinum to Develop Four Projects Along Mumbai's Coastal Road Belt

Mumbai-based real estate developer Platinum is planning four residential developments along the city’s Coastal Road belt, with a projected gross development value (GDV) of more than Rs. 13.5 bn. The portfolio covers 226,000 sq. ft. of RERA carpet area available for sale and includes three ongoing developments and one upcoming society redevelopment.

The ongoing projects are Platinum Oceanic at Carter Road in Khar West, Platinum Stellar on Main Avenue in Santacruz West and Platinum Vibe in Model Town, Versova. They comprise approximately 45,000 sq. ft., 39,000 sq. ft. and 67,000 sq. ft. of carpet area, respectively. The upcoming Jai Versova society redevelopment at Versova Beach is expected to provide about 75,000 sq. ft. of carpet area for sale.

Platinum founder and chief executive officer Vishal Ratanghayra said the combined development potential was aimed at meeting demand for luxury sea-facing apartments. The company’s approach involves maintaining financial discipline, linking capital deployment to construction milestones and converting development potential into sales and collections.

The four projects represent a combined investment of Rs. 2.6 bn. Of this, Rs. 1 bn will come from internal accruals, while institutional funding of Rs. 1.6 bn will be provided by ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank.

The developments are at different stages. Platinum Oceanic is scheduled for possession by the end of 2027, while Platinum Vibe and Platinum Stellar are scheduled for completion in April 2030. Work has recently begun on the yet-to-be-named flagship sea-touch redevelopment at Jai Versova society, which is expected to be launched for sale towards the end of 2026 and take at least four years to complete. The staggered schedule is intended to align capital requirements with construction progress and support planned sales and collections across the portfolio.

Mumbai-based real estate developer Platinum is planning four residential developments along the city’s Coastal Road belt, with a projected gross development value (GDV) of more than Rs. 13.5 bn. The portfolio covers 226,000 sq. ft. of RERA carpet area available for sale and includes three ongoing developments and one upcoming society redevelopment. The ongoing projects are Platinum Oceanic at Carter Road in Khar West, Platinum Stellar on Main Avenue in Santacruz West and Platinum Vibe in Model Town, Versova. They comprise approximately 45,000 sq. ft., 39,000 sq. ft. and 67,000 sq. ft. of carpet area, respectively. The upcoming Jai Versova society redevelopment at Versova Beach is expected to provide about 75,000 sq. ft. of carpet area for sale. Platinum founder and chief executive officer Vishal Ratanghayra said the combined development potential was aimed at meeting demand for luxury sea-facing apartments. The company’s approach involves maintaining financial discipline, linking capital deployment to construction milestones and converting development potential into sales and collections. The four projects represent a combined investment of Rs. 2.6 bn. Of this, Rs. 1 bn will come from internal accruals, while institutional funding of Rs. 1.6 bn will be provided by ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank. The developments are at different stages. Platinum Oceanic is scheduled for possession by the end of 2027, while Platinum Vibe and Platinum Stellar are scheduled for completion in April 2030. Work has recently begun on the yet-to-be-named flagship sea-touch redevelopment at Jai Versova society, which is expected to be launched for sale towards the end of 2026 and take at least four years to complete. The staggered schedule is intended to align capital requirements with construction progress and support planned sales and collections across the portfolio.

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