Prestige Enters Versova Residential Opportunity Worth Rs 90 Billion

14 Apr 2026 CW Team

Prestige Estates Projects Limited has entered into a joint venture with ABIL Group to develop a land parcel in Versova, Mumbai, through Aaramnagar Realty LLP. The joint venture holds development rights for the site and will pursue a premium residential scheme aimed at the western suburbs market. The partners expect the project to strengthen Prestige's presence in Mumbai and form part of its broader growth plan. Aaramnagar Realty LLP will lead approvals and site mobilisation efforts.

The land spans approximately six acres and offers an estimated development potential of one point seven million square feet (1.7 mn sq ft) of RERA area. The development is estimated to have a gross development value of over Rs 90 billion (90 bn). The project is intended to cater to demand for high quality housing in an established micro market. Design will focus on premium amenities and sustainability features to meet buyer expectations.

Versova has been identified by Prestige as a supply constrained micro market with strong social infrastructure, connectivity and proximity to commercial hubs. The company said the opportunity aligns with its strategy to expand in high demand urban areas and to maintain a robust pipeline while focusing on execution and timely delivery. The joint venture structure with ABIL Group leverages local experience and development capabilities. The collaboration is expected to accelerate timelines and enhance delivery certainty.

Prestige noted that as at December 2025 the group had delivered 313 projects spanning 206 mn sq ft and maintained a pipeline of 128 projects across 195 mn sq ft. The developer described the Versova project as a natural extension of its activities in Mumbai and signalled continued investment in premium residential assets across major cities. The partners will proceed with detailed planning and regulatory processes. Financial details of the joint venture have not been disclosed.

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