Prestige Group enters ₹9,000 Cr Versova residential project via JV
Prestige Estates Projects Limited has entered a joint venture with ABIL Group to develop a 6-acre land parcel in Versova, Mumbai. The project has an estimated Gross Development Value of over ₹9,000 crores and a development potential of 1.7 million sq ft. This expansion targets high-demand urban markets.
The ₹9,000 crore development value and expansion into a prime Mumbai location represent a material development for Prestige Estates Projects Limited, significantly impacting its future revenue and market position.
The announcement details a significant new development project in a key market with a high Gross Development Value, indicating growth and strategic expansion for the company.
Prestige Estates Projects Limited (Prestige) has announced its entry into a significant residential development opportunity in Versova, Mumbai, with an estimated Gross Development Value (GDV) exceeding ₹9,000 crores. This strategic move is materialized through a joint venture with ABIL Group, a developer known for premium real estate and hospitality in Pune and Mumbai, via Aaramnagar Realty LLP.
The development rights pertain to a land parcel in Aram Nagar, Versova, spanning approximately 6 acres. The project boasts a total development potential of around 1.7 million square feet (RERA area). This initiative aligns with Prestige's strategy to expand its footprint in high-demand, supply-constrained urban markets.
Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, commented on the development, stating, "Mumbai remains a key focus market for us, and this opportunity in Versova is a natural extension of our growing presence in the city. We continue to see steady demand for well-located, quality developments, particularly in established micro-markets such as Versova. We will continue to build a robust pipeline of projects across geographies to sustain our growth momentum while maintaining our focus on execution and timely delivery."
Prestige Group, with a legacy of nearly four decades, is a diversified real estate developer with projects in residential, commercial, retail, hospitality, and integrated townships. As of December 2025, the Group has delivered 313 projects covering 206 million square feet and has a pipeline of 128 projects spanning 195 million square feet.
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Prestige Estates Projects Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Prestige Estates Projects Limited. Read the original for the full detail.