Prestige Estates and Valor Group Join Forces for a ₹4,500 Crore Office Complex in Mumbai
Bengaluru’s leading real estate developer, Prestige Estates Projects Ltd, has entered into a partnership with Mumbai-based Valor Group to develop a high-profile office complex in Andheri, Mumbai, with a total leasable area of 1.5 million sq ft.
Real EstateMumbaiPrestige EstatesOffice ComplexValor GroupReal Estate MumbaiMay 30, 2025
According to a regulatory filing, the project's estimated Gross Development Value (GDV) is approximately ₹4,500 crore, with Valor and Prestige each holding a 50% economic stake. The joint development agreement was signed on May 28 for land measuring 21,978.22 square metres in Andheri East, Mumbai.
As per the filing, ₹504 crore will be infused into a Special Purpose Vehicle (SPV) that will be set up to execute the project. This collaboration marks a significant step in the expansion of both companies in the bustling real estate market of Mumbai.
Prestige Estates announced on May 28 that it has successfully completed the first three landmarks in Mumbai, including Siesta at The Prestige City, Mulund, Prestige Jasdan Classic, and Prestige Turf Tower in Mahalaxmi. These developments collectively span 2.8 million sq ft and mark the Group’s significant debut delivery in the city since its Mumbai launch in 2022.
The company said these developments collectively span 2.8 million sq ft and mark the Group’s significant debut delivery in the city since its Mumbai launch in 2022. According to the company, it will be handing over possession of nearly 700 residences and 130 office units in the coming months.
Prestige Estates has a 38-year legacy and has delivered over 300 projects in the residential, commercial, retail, hospitality, and mixed-use segments. The company also recently announced its entry into the Delhi NCR real estate market.
On May 6, Irfan Razack, chairman and managing director of Prestige Estates, said that the company aims to ‘rewrite the way real estate is done in the region,’ with an emphasis on quality and timely delivery, key concerns that have historically plagued the Delhi-NCR property market.
This partnership with Valor Group is expected to enhance Prestige Estates' presence in the commercial real estate sector, leveraging the strengths of both companies to create a landmark project in one of Mumbai's most sought-after areas.
Frequently Asked Questions
What is the total estimated value of the project?
The project's estimated Gross Development Value (GDV) is approximately ₹4,500 crore.
What is the total leasable area of the office complex?
The office complex will have a total leasable area of 1.5 million sq ft.
Who are the partners in this development project?
The partners in this development project are Prestige Estates Projects Ltd and Valor Group (formerly known as DB Realty).
Where is the project located?
The project is located in Andheri East, Mumbai.
What is the economic stake of each partner in the project?
Both Prestige Estates and Valor Group hold a 50% economic stake in the project.
Related News Articles
Bonus and Stock Split Alert: 8 Stocks to Keep an Eye On
These 8 stocks have recently declared bonus and stock split, which could lead to a surge in their share prices. Find out which ones made the list.
Evoq Realtech Partners with Hrithik Roshan as Brand Ambassador
Evoq Realtech, a prominent real estate developer based in Mohali, is delighted to announce its partnership with Indian superstar Hrithik Roshan. This strategic alliance aims to enhance the brand's presence and credibility in the market.
Luxury and Sustainability in Tier-2 Cities: Real Estate Prospects in 2025
India’s primary housing market is expected to witness a moderate single-digit price rise in 2025, following a significant 21% surge in 2024. Industry experts attribute this trend to strong demand and limited supply, with a growing focus on sustainability
Signature Global Invests Rs 300 Crore in Gurugram Housing Project
Signature Global, a prominent real estate player, is set to expand its footprint in the Delhi-NCR region by investing Rs 300 crore in a premium housing project in Gurugram, while also eyeing the Noida market.
India's Commercial Real Estate Surges with Rising Office Space Demand
The commercial real estate sector in India is witnessing a significant boom due to the surging demand for office spaces, particularly in major cities like Mumbai and Delhi-NCR. Experts predict that this trend will continue, driven by a growing number of b
Real Estate Market Remains Robust, but Challenges Persist in Affordable and Mid-Range Segments
While the real estate market in cities like Chennai and Mumbai continues to show resilience, there are growing concerns over the affordable and mid-range segments (₹10-50 crore). Despite these challenges, the super-luxury market (₹50 crore and above) in M