Prestige Estates and Valor Group Join Forces to Develop Mega Office Complex in Mumbai
Bengaluru-based Prestige Estates Projects Ltd and Mumbai-based Valor Group have partnered to develop a massive office complex in Mumbai's Andheri East, with a leasable area of 1.50 million sq ft and an estimated value of ₹4,500 crore.
Real EstateOffice ComplexPrestige EstatesValor GroupMumbaiReal Estate NewsMay 30, 2025
According to a regulatory filing, the project's Gross Development Value (GDV) is approximately ₹4,500 crore, with both companies holding a 50% economic stake. The joint development agreement was signed on May 28, 2025, for a land parcel measuring 21,978.22 square metres in Andheri East, Mumbai.
₹504 crore will be infused into a Special Purpose Vehicle (SPV) that will be set up to execute the project. This collaboration is seen as a significant step in the real estate market, combining the strengths of two leading players in the industry.
Prestige Estates, with a 38-year legacy, has delivered over 300 projects in various segments, including residential, commercial, retail, hospitality, and mixed-use. The company has been making significant strides in expanding its footprint across major Indian cities. Recently, it announced the completion of three major landmarks in Mumbai, including Siesta at The Prestige City in 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 in the city since its Mumbai launch in 2022.
The company is set to hand over possession of nearly 700 residences and 130 office units in the coming months. This milestone underscores Prestige Estates' commitment to quality and timely delivery, which are key concerns in the real estate market.
Prestige Estates has also announced its entry into the Delhi NCR real estate market, aiming to ‘rewrite the way real estate is done’ in the region. Irfan Razack, chairman and managing director of Prestige Estates, emphasized the company's focus on quality and timely delivery, addressing historical issues that have plagued the Delhi-NCR property market.
The partnership with Valor Group is expected to bring a new dimension to the real estate landscape in Mumbai, particularly in the commercial segment. The Andheri East project is poised to become a landmark development, attracting major corporate tenants and contributing to the economic growth of the region.
Frequently Asked Questions
What is the estimated value of the office complex project?
The estimated value of the office complex project is ₹4,500 crore.
What is the leasable area of the office complex?
The leasable area of the office complex is 1.50 million square feet.
When was the joint development agreement signed?
The joint development agreement was signed on May 28, 2025.
What is the land area for the project in Andheri East?
The land area for the project in Andheri East is 21,978.22 square metres.
What is the economic stake of each company in the project?
Prestige Estates and Valor Group each hold a 50% economic stake in the project.
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