Prestige Estates Projects Limited, a prominent real estate developer in India, has announced its entry into a significant residential market in Versova, Mumbai, valued at over ₹9,000 crore.
This development comes through a joint venture with ABIL Group, a noted developer in Pune and Mumbai, via Aaramnagar Realty LLP.
The joint venture holds the development rights to a land parcel in Aram Nagar, Versova, Mumbai. The project covers approximately 6 acres, with a total development potential of around 1.7 million square feet in RERA area. The development is projected to be a premium residential project, addressing the increasing demand for high-quality housing in Mumbai's western suburbs.
Versova is recognised for its strong social infrastructure, excellent connectivity, and proximity to major commercial hubs, making it a sought-after micro-market. This strategic move aligns with Prestige's goal of expanding in high-demand, supply-constrained urban markets.
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 one of India's most respected and diversified real estate developers. As of December 2025, the Group has delivered 313 projects covering 206 million square feet and currently has a pipeline of 128 projects across 195 million square feet.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).