Versova’s ₹9,000 Crore Masterpiece: Prestige and ABIL Join Forces

Prestige Estates Projects has entered into a joint venture with ABIL Group, a developer known for its premium real estate and hospitality projects in Pune and Mumbai.

The partnership will develop a prime land parcel through Aaramnagar Realty in Versova’s Aram Nagar area in Mumbai. Spread across დაახლოებით six acres, the project has a total development potential of about 1.7 million sq ft (RERA area), with an estimated gross development value (GDV) of over ₹9,000 crore. It is planned as a premium residential development, targeting strong demand for high-quality housing in Mumbai’s western suburbs.

The collaboration is in line with Prestige Estates’ broader expansion strategy focused on entering high-demand, supply-constrained urban markets. The project is expected to strengthen its presence in Mumbai’s luxury housing segment while leveraging ABIL Group’s local expertise in execution and development.

Commenting on the development, Irfan Razack, Chairman and Managing Director of Prestige Group, said that Mumbai continues to be a key focus market and that the Versova project aligns with the company’s strategy of expanding in established micro-markets with sustained demand for quality developments.

News by Rahul Yelligetti.