Prestige Group Expands MMR Footprint with ₹ 6,000 Crore Thane Residential Development
Mumbai, July 29, 2026: Prestige Group, a leading real estate developer in India, has announced a significant expansion into the Mumbai Metropolitan Region (MMR). The company is embarking on a strategic project in Thane—a major residential and mixed-use development valued at an estimated ₹ 6,000 crore.The ambitious undertaking spans approximately 14.6 acres and holds a developable potential exceeding 5 million square feet, positioning it as one of the largest residential projects in the micro-market. The project is designed to cater to diverse homebuyers, including young professionals, growing families, and first time buyers, with residences complemented by a vibrant retail offering. This combination aims to create an integrated live work shop environment for residents and the wider community.
The development boasts a prime location near Kolshet Balkum Road in Thane, benefitting from excellent connectivity. The area is strategically linked to key business districts, major road networks, educational institutions, healthcare facilities, and established social infrastructure. Backed by significant local demand, the region has been identified as one of the most sought after residential destinations within the MMR.
In line with Prestige Group's commitment to quality, innovation, and customer centric development, the Thane project will feature contemporary architecture, sustainable design principles, expansive landscaped open spaces, and world class lifestyle amenities. The initiative aims to set new standards for integrated urban living.
Mr Irfan Razack, Chairman & Managing Director of Prestige Group, commented on the partnership, stating that the project represents a major milestone in the company's expansion across the MMR. He noted that Thane has become one of the region's most dynamic residential markets due to sustained housing demand and infrastructure development. Mr Razack expressed delight at creating an integrated community that reflects their commitment to quality thoughtful design timely delivery and customer satisfaction, anticipating strong reception from discerning homebuyers in the region.
The project involves a collaboration between Prestige Group and a local developer partner. Together, the entities are committed to contributing meaningfully to Thane's evolving urban landscape by delivering a landmark destination. The development is scheduled to proceed in phases, pending the fulfillment of requisite statutory approvals.
Company Profile: Prestige Group
Prestige Group stands as one of India’s most diversified real estate developers, possessing a legacy that spans over four decades. Their extensive portfolio covers residential commercial retail hospitality and integrated township projects across major cities. As of March 2026, the Group had successfully delivered 316 projects encompassing 212 million sqft, and maintains a current pipeline of 135 projects covering 227 million sqft.PRESTIGE Stock Price Movement
Prestige Estates Projects Limited shares today slipped by 1.03% to settle at ₹1673.The stock traded within a daily range of ₹1657.4 and ₹1702.4, with significant activity recorded during the session.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.