Prestige Estates Expands Mumbai Footprint with ₹9,000 Crore Versova Housing Venture

The proposed development is intended as a premium residential project meticulously designed to cater to the surging demand for high-quality housing within the western suburbs of Mumbai. Versova remains a highly sought-after micro-market, a status driven by its robust social infrastructure, seamless connectivity, and its immediate proximity to key commercial hubs. Irfan Razack, Chairman and Managing Director of Prestige Group, emphasized the strategic importance of the move, stating that Mumbai remains a key focus market and that the Versova opportunity serves as a natural extension of their growing presence in the city. Razack further noted that the company continues to see steady demand for well-located, quality developments in established micro-markets and remains committed to building a robust pipeline of projects across geographies to sustain growth momentum while focusing on execution and timely delivery.

This announcement follows an aggressive period of expansion, as Prestige Estates has announced two other major projects in Hyderabad and Gurugram within the last 10 days. On April 1, Prestige Estates Projects Ltd announced a partnership with a landowner to develop a 17-acre housing project in Gurugram with an estimated revenue potential of ₹4,200 crore. In a regulatory filing on that same day, the company confirmed it secured a land parcel in Sector 92, Gurugram, having entered into a Joint Development Agreement (JDA) for the 17.212-acre site. Simultaneously, the company launched a 29-acre township titled Prestige Golden Grove in Hyderabad’s Tellapur. This development features 5,120 units with a total saleable area of approximately 10.36 million sq ft and an estimated GDV of over ₹9,500 crore. Apartment sizes at the Hyderabad site range from 1,169 sq ft to 3,013 sq ft, with ticket sizes starting at approximately ₹1 crore and reaching ₹3 crore. The project offers a diverse mix of 2-, 3-, 3.5-, and 4-bedroom apartments, including select 4BHK units equipped with staff accommodation. This rapid sequence of high-value launches underscores Prestige Estates' aggressive pursuit of market dominance across India’s primary residential hubs.