On 26 October, Platinum Corp. revealed plans for four residential projects in Mumbai’s Western suburbs, boasting a combined gross development value (GDV) exceeding INR 1,350 crore. These projects, totaling roughly 226,000 sq. ft. of RERA carpet area, are spread across three ongoing ventures and one upcoming redevelopment, all situated in well-established areas along Mumbai’s western coastline.
The three active projects are Platinum Oceanic in Khar West’s Carter Road, covering 45,000 sq. ft.; Platinum Stellar in Santacruz West’s Main Avenue, spanning 39,000 sq. ft.; and Platinum Vibe in Versova’s Model Town, occupying 67,000 sq. ft. The fourth initiative involves redeveloping the Jai Versova society on Versova Beach, anticipated to offer around 75,000 sq. ft. of saleable carpet area.
The total investment for these projects is pegged at INR 260 crore, with INR 100 crore sourced from internal funds and the remaining INR 160 crore secured from institutional investors, including ICICI Venture Fund, Bajaj Finance, and AU Small Finance Bank. The company has structured its development and funding plans to synchronize capital allocation with construction benchmarks, ensuring sales and revenue generation across projects at various stages.
Vishal Ratanghayra, Platinum Corp.’s founder and CEO, stated that the company’s expansion along the coastal region demonstrates its confidence in the long-term potential of Mumbai‘s Western suburbs. He emphasized their commitment to financial prudence by matching capital spending with construction advancements and transforming their development pipeline into sales and revenue. Ratanghayra also highlighted enhanced connectivity and the growing demand for luxury sea-facing homes as key factors driving their regional focus.
Platinum Oceanic is set for handover by late 2027, while Platinum Vibe and Platinum Stellar are slated for completion in April 2030. This phased delivery approach enables the company to manage construction costs and anticipated revenue over extended periods. Construction has begun on the Jai Versova society redevelopment, envisioned as a flagship beachfront residential project. Though yet to be officially named, this development is expected to launch sales by late 2026, with construction projected to span at least four years.
This portfolio enhances Platinum Corp.’s footprint in Carter Road, Santacruz West, and Versova, three prominent residential areas in Mumbai’s Western suburbs. The company stressed its dedication to controlling project expenses, synchronizing funding with construction timelines, and delivering projects as per scheduled deadlines.
