Prestige Estates Projects Limited has announced a strategic joint venture with ABIL Group to develop a premium residential project in Versova, Mumbai. The project, managed through Aaramnagar Realty LLP, spans approximately 6 acres and offers a development potential of 1.7 million square feet. With an estimated Gross Development Value (GDV) exceeding ₹9,000 crore, this move marks a significant expansion of the company’s footprint in Mumbai’s high-demand western suburbs.
Strategic Expansion in Mumbai
Prestige Group is bolstering its presence in India’s commercial capital through a new joint venture with ABIL Group. By leveraging the development rights held by Aaramnagar Realty LLP, the company intends to capture the growing demand for luxury real estate in the well-established micro-market of Versova. This project represents a key milestone in the company’s strategy to expand into high-demand urban markets where quality supply remains constrained.
Project Details and Market Potential
The development is set to be a premium residential offering, capitalizing on the area’s strong social infrastructure and connectivity to major commercial hubs. Key highlights of the project include:
- Total Land Area: Approximately 6 acres.
- Development Potential: 1.7 million square feet (RERA area).
- Gross Development Value (GDV): Over ₹9,000 crore.
Leadership Outlook
Commenting on the venture, Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, noted that Mumbai remains a critical focus market. He emphasized that the Versova project is a natural extension of the company’s portfolio, aligning with their ongoing commitment to quality developments. As of December 2025, the Group maintains a robust track record with 313 completed projects and a future pipeline of 128 projects, reflecting a strong emphasis on consistent execution and timely delivery.
Source: BSE
