Prestige Estates and Valor Group Join Forces to Develop INR 4,500 Cr Commercial Project in Mumbai

Prestige Estates Projects has entered into a strategic joint venture with Valor Group to co-develop a premium commercial office complex in Mumbai, Maharashtra. The collaboration is focused on a significant land parcel of 21,978.22 sq. mtrs. located in the prime Andheri West locality. A framework agreement has been signed, laying the foundation for what is expected to be one of the city’s most prominent upcoming business hubs.

High-Value Project with Shared Economic Interest

The commercial development is projected to offer a total leasable area of 1.5 million sq. ft., with a Gross Development Value (GDV) estimated at INR 4,500 crore. As per the terms of the agreement, Prestige Estates and Valor Group will each hold a 50% economic stake in the project. The venture will be executed through a special purpose vehicle (SPV), with Prestige Estates investing INR 504 crore as part of the deal.

Boosting Commercial Footprint in Mumbai’s Andheri West

This development signifies a major push into Mumbai’s premium office space segment for both companies. Andheri West, known for its connectivity and growing business ecosystem, is rapidly emerging as a high-demand micro-market. The location is expected to attract interest from top-tier corporate tenants, startups, and multinational firms looking for Grade-A commercial real estate.

Prestige Estates’ Strategic Expansion Beyond Bengaluru

Prestige Estates, headquartered in Bengaluru, is recognized for its diversified portfolio spanning residential, commercial, retail, and hospitality segments. This Mumbai project underlines the company's pan-India ambitions and strategic focus on expanding its commercial real estate assets in metro cities. The tie-up with Valor Group enhances its ability to capitalize on high-value urban markets like Mumbai.

Valor Group’s Growing Presence in Urban Infrastructure

Valor Group, known for its expertise in real estate development and capital management, views this collaboration as an opportunity to further its presence in Grade-A commercial development. The partnership brings together Prestige’s execution capabilities and Valor’s investment strength, promising a landmark addition to Mumbai’s business skyline.

Economic Impact and Future Growth Potential

This large-scale investment is poised to stimulate job creation in construction, real estate services, and allied industries in Mumbai. It is also expected to contribute significantly to the commercial real estate supply in a city where office space demand continues to rise. Once operational, the project could become a key business hub, offering modern office infrastructure in one of India’s most dynamic urban centers.

Project Highlights:

• Joint venture between Prestige Estates and Valor Group in Mumbai.

• Project located on 21,978.22 sq. mtrs. of prime land in Andheri West.

• Estimated 1.5 million sq. ft. of leasable commercial space.

• Total Gross Development Value (GDV) of INR 4,500 crore.

• Both partners to hold 50% economic interest in the venture.

• Development to be executed via an SPV, with INR 504 crore investment by Prestige.

• Prestige Estates expands beyond Bengaluru, targeting metro cities.

• Project to attract corporate tenants and multinationals seeking Grade-A office spaces.

• Expected to boost job creation and real estate activity in Mumbai.

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