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Stock Report
Prestige Group marks entry into ₹9,000 Cr Residential Opportunity in Versova, Mumbai
Posted On : 2026-04-10 10:30:48( TIMEZONE : IST )
Prestige Estates Projects Limited ("Prestige"), one of India's leading real estate developers, has entered into a joint venture with ABIL Group (a developer of premium real estate and hospitality in Pune and Mumbai) to develop a land parcel through Aaramnagar Realty LLP.
Aaramnagar Realty LLP jointly holds the Development rights to land parcel in Aram Nagar, Versova, Mumbai. The development spans a land area of approximately 6 acres and offers a total development potential of around 1.7 million square feet (RERA area), with an estimated Gross Development Value (GDV) of over ₹9,000 crores.
The proposed development is envisaged as a premium residential project, catering to the growing demand for high-quality developments in Mumbai's western suburbs. Versova continues to be a sought-after micro-market, driven by its strong social infrastructure, connectivity, and proximity to key commercial hubs.
This opportunity aligns with Prestige's strategy of expanding in high-demand and quality supply-constrained urban markets.
Commenting on the development, Mr. Irfan Razack, Chairman and Managing Director, Prestige Group said: "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.
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."
Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1318.20 as compared to the previous close of Rs. 1321.90. The total number of shares traded during the day was 34502 in over 4064 trades.
The stock hit an intraday high of Rs. 1340.90 and intraday low of 1292.95. The net turnover during the day was Rs. 45410654.00.
