Platinum Corp announced an investment plan of four residential projects in Mumbai

 

By The Realty Times | Real Estate News Services

Mumbai: Platinum Corp., a reputed developer redefining Mumbai's luxury real estate landscape, is strengthening its position along Mumbai’s Coastal Road belt with four residential developments totalling a projected Gross Development Value (GDV) of over ₹1,350 crore. Encompassing approximately 2.26 lakh sq. ft. of RERA carpet area for sale, the portfolio comprises three ongoing projects, 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. These are complemented by the upcoming Jai Versova society redevelopment, located on Versova Beach, with approximately 75,000 sq. ft. of carpet area for sale. Together, the four developments offer approximately 2,26,000 sq. ft. of carpet area for sale, marking a significant expansion of the group’s footprint across established Western suburban neighbourhoods and positioning it as an increasingly prominent presence along this important premium residential corridor.

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. Platinum Corp. has recently commenced work on its latest, yet-to-be-named flagship sea-touch redevelopment at Jai Versova society The project is expected to be launched 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.

As Platinum Corp. continues to expand its presence across Carter Road, Santacruz and Versova through its ongoing developments and distinctive projects in the pipeline, its focus on Mumbai’s Coastal Road belt marks a significant step in building scale across the city’s sought-after Western suburbs. The company remains focused on aligning capital deployment with construction schedules, managing project costs and converting its development pipeline into sales and collections, while ensuring timely project delivery.