Prestige Estates Enters ₹9,000 Cr Residential Venture in Mumbai

Prestige Estates Projects Limited has entered into a joint venture with ABIL Group to develop a residential project in Versova, Mumbai. The project will be managed through Aaramnagar Realty LLP, which holds the development rights to a land parcel in Aram Nagar, Versova. The development spans approximately 6 acres and offers a total development potential of around 1.7 million square feet.

The estimated Gross Development Value (GDV) of the project is over ₹9,000 crores. The proposed development is planned as a premium residential project, addressing the demand for high-quality residential spaces in Mumbai’s western suburbs. Versova is noted for its strong social infrastructure, connectivity, and proximity to key commercial hubs.

This venture is part of Prestige’s strategy to expand in high-demand urban markets with constrained quality supply. The company aims to build a robust pipeline of projects across various geographies to sustain growth while focusing on execution and timely delivery.

ABIL Group is a developer of premium real estate and hospitality projects in Pune and Mumbai. The group focuses on creating high-quality developments that cater to the luxury segment in these regions.

Prestige Estates Projects Limited is a diversified real estate developer in India with a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As of December 2025, Prestige has delivered 313 projects covering 206 million square feet and has a pipeline of 128 projects across 195 million square feet.