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.
