Platinum Corp to Invest 260 Crore in Four Mumbai Projects

Platinum Corp plans to invest ₹260 crore across four residential projects in Mumbai’s western suburbs, targeting a combined gross development value exceeding ₹1,350 crore across 2.26 lakh sq. ft. of saleable carpet area.

Mumbai-based real estate developer Platinum Corp plans to invest ₹260 crore across four residential projects in the city’s western suburbs, targeting a combined gross development value (GDV) of more than ₹1,350 crore. The portfolio comprises approximately 2.26 lakh square feet of RERA carpet area for sale, with developments located in Carter Road, Santacruz West and Versova.

The projects include Platinum Oceanic at Carter Road in Khar West, offering approximately 45,000 square feet of carpet area; Platinum Stellar on Main Avenue in Santacruz West, with around 39,000 square feet; and Platinum Vibe in Model Town, Versova, comprising approximately 67,000 square feet. The fourth project involves the redevelopment of Jai Versova Society near Versova Beach, which is expected to add approximately 75,000 square feet of saleable carpet area.

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The planned investment will be funded through a combination of internal accruals and institutional financing. Platinum Corp will contribute ₹100 crore from internal resources, while the remaining ₹160 crore will come from ICICI Venture Fund, Bajaj Finance and AU Small Finance Bank. The funding arrangement is intended to align capital deployment with construction milestones and support project execution.

The developments are at different stages. Platinum Oceanic is scheduled for possession by the end of 2027, while Platinum Stellar and Platinum Vibe are expected to be completed by April 2030. Work has also commenced on the proposed sea-facing redevelopment of Jai Versova Society, which is expected to launch for sale towards the end of 2026 and take at least four years to complete.

Vishal Ratanghayra, founder and chief executive officer of Platinum Corp, says the company’s expansion along Mumbai’s Coastal Road belt reflects its confidence in the long-term potential of the western suburbs. He highlights disciplined capital allocation and a focus on ultra-luxury residential developments designed to address demand for premium, sea-facing homes.

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The investment plan reflects Platinum Corp’s strategy to expand its presence across established residential neighbourhoods in western Mumbai. By spreading development activity across four projects with staggered timelines, the company aims to manage funding requirements, construction progress, sales and collections while strengthening its position in the city’s luxury housing market.