Prestige Estates Projects Limited has formed a joint venture with ABIL Group to develop a new residential project in Mumbai. The project will be developed through Aaramnagar Realty LLP.
The project will be built on a land parcel in Versova, covering about 6 acres. It has a development potential of around 1.7 million square feet (RERA area) and an estimated Gross Development Value (GDV) of more than ₹9,000 crore.
The development is planned as a premium residential project aimed at meeting the rising demand for quality housing in Mumbai’s western suburbs. Versova remains a popular residential area because of:
This project supports Prestige’s strategy to grow in cities where demand is high but supply of quality homes is limited.
Chairman and Managing Director Irfan Razack said Mumbai continues to be a key market for the company. He added that the Versova project strengthens Prestige’s presence in the city and reflects steady demand for well-located, high-quality homes.
Prestige Group is a well-known real estate developer in India with nearly 40 years of experience. The company develops residential, commercial, retail, hospitality, and township projects across major cities.
As of December 2025, the group has:
Prestige Estates Projects share price was trading at ₹1,322.40 on April 10 at 12:23 pm, up ₹3 (0.23%) for the day. The stock opened at ₹1,329.10, touched a high of ₹1,353.50, and a low of ₹1,320.00 during the session. Over the past year, the stock has moved between a 52-week high of ₹1,814.00 and a 52-week low of ₹1,086.65, and currently offers a dividend yield of 0.14% with a quarterly dividend amount of ₹0.46.
The Versova project marks another major step in Prestige’s expansion in Mumbai. With strong demand for premium homes and limited supply in prime locations, this partnership is expected to boost Prestige’s growth and strengthen its presence in key urban markets.
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Published on: Apr 10, 2026, 12:26 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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