Prestige Group Expands MMR Footprint with ₹6,000 Crore Thane Residential Development
Prestige Group announces a ₹6,000 crore residential development in Thane, MMR, spanning 14.6 acres with over 5 million sqft developable area. The project includes residences and retail, targeting diverse homebuyers. Chairman & MD Irfan Razack highlighted Thane's dynamic market and the project's strategic importance.
The project's scale (₹6,000 crore GDV, 5 million sqft developable area) and strategic location in a key micro-market like Thane represent a major expansion for the company, likely to have a significant impact on its future revenue and market presence.
The announcement details a significant new development project with a substantial Gross Development Value, indicating business expansion and growth. Management commentary is positive and forward-looking.
Prestige Group has announced a strategic partnership to develop a significant residential project in Thane, within the Mumbai Metropolitan Region (MMR). The project, spread across approximately 14.6 acres, is estimated to have a Gross Development Value (GDV) of ₹6,000 crore and a developable potential exceeding 5 million square feet.
The development will offer a mix of residences and a retail component, aiming to create a live-work-shop environment. It is strategically located near Kolshet –Balkum Road in Thane, offering good connectivity to business districts, educational institutions, and healthcare facilities.
Mr. Irfan Razack, Chairman & Managing Director of Prestige Group, stated that this project marks a significant milestone in the company's expansion in the MMR, driven by Thane's dynamic residential market and sustained housing demand. The project will feature contemporary architecture, ample open spaces, and world-class amenities, adhering to sustainable design principles.
The collaboration combines Prestige Group's expertise in large-scale developments with the local partner's market knowledge. The project is expected to be developed in phases, subject to necessary approvals. As of March 2026, Prestige Group has delivered 316 projects covering 212 million sqft, with a pipeline of 135 projects across 227 million sqft.
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Prestige Estates Projects Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. 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.