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.
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