Prestige Group Partners for ₹9,000 Cr Residential Development in Versova, Mumbai
Prestige Estates Projects Limited, a prominent Indian real estate developer, has entered into a joint venture with ABIL Group to develop a residential project in Versova, Mumbai. The collaboration involves Aaramnagar Realty LLP, which jointly holds the development rights for the land parcel in Aram Nagar, Versova.The proposed development has a land area of approximately 6 acres and boasts a total development potential of around 1.7 million square feet (RERA area). This venture carries an estimated Gross Development Value (GDV) exceeding ₹9,000 crores.
The project is slated to be a premium residential development, capitalizing on the consistent demand for high-quality housing in Mumbai's western suburbs. Versova remains a desirable micro-market due to its robust social infrastructure, connectivity, and closeness to major commercial centers.
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 welllocated, quality developments, particularly in established micro-markets such as Versova." He added that the group plans to build a strong project pipeline across various geographies to sustain growth momentum while emphasizing a focus on execution and timely delivery.
The article also provided details regarding the Prestige Group's standing in the real estate sector. Prestige Group is described as one of India's most respected and diversified real estate developers, possessing a legacy of nearly four decades. As of December 2025, the Group had delivered 313 projects covering 206 mn sft and maintained a pipeline of 128 projects spanning 195 mn sft.
PRESTIGE Stock Price Movement
Prestige Estates Projects Limited shares today slipped by 0.40% to settle at ₹1319.4. The stock settled following a day where the total traded volume reached 847,595 shares.Source:
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.