On 3 July 2026, Prestige Estates Projects Limited announced an investment agreement to acquire a 50% equity stake in Advent Convention and Hotels International Limited (ACHIL) for ₹504 crore. The resulting joint venture with Advent Hotels is structured to co-develop a landmark ₹4,500 crore integrated hospitality project near Mumbai's international airport in Sahar. For Prestige Group, this is not an opportunistic land deal — it is a deliberate extension of a commercial strategy the group has already proven in Bengaluru, Delhi-NCR Aerocity, and Mahalaxmi.
The project sits on a 21,978.22 sq. metres (approximately 5.4 acres) land parcel in Sahar, Andheri East. The development will deliver a leasable area of 1.50 million sq. ft. with a projected Gross Development Value of ₹4,500 crore. Contiguous parcels of this scale in Sahar are structurally scarce. The Sahar/Andheri East micro-market is evolving from a pure-play airport hospitality zone into a premium integrated commercial hub, and with land availability at a premium, five-acre contiguous parcels for mixed-use development are rare.
Prestige Group is an Indian real estate development company headquartered in Bengaluru, and since its founding it has developed residential and commercial spaces across Bengaluru, Chennai, Kochi, Hyderabad, Mumbai, Mangalore, Goa, and Delhi-NCR. The company was founded in 1986 under CMD Irfan Razack, along with his brothers Rezwan and Noaman Razack.
As of June 2026, Prestige Group has completed 313+ projects and delivered over 206 million sq. ft. across India. The group closed FY 2025–26 with ₹30,024.5 crore in sales and ₹18,514.6 crore in collections, selling 22.28 million sq. ft. across 11,692 homes. Prestige is the only developer in India to maintain a CRISIL DA1+ rating since 2012, providing an institutional-grade level of financial reliability.
Mumbai has been a deliberate, phased expansion for Prestige — not a one-off. Since entering Mumbai's property market in 2022, the group has focused on large-scale developments, and has already delivered over 800 units across 2.8 million square feet. Those first three completed Mumbai projects — Siesta at The Prestige City in Mulund, Prestige Jasdan Classic in Mahalaxmi, and Prestige Turf Tower, also in Mahalaxmi — establish a clear pattern: Prestige enters a Mumbai sub-market with scale, executes, delivers, and then moves its footprint to the next high-value node. Sahar is that next node.
The project being developed through the Prestige–Advent JV in Sahar, Andheri East, is structurally distinct from Prestige's earlier Mumbai residential launches. This is a hospitality-led, commercially integrated asset — a category where Prestige has deep institutional experience. The partnership combines Advent's hospitality assets with Prestige's large-scale execution capabilities.
The scale — 1.50 million sq. ft. of leasable area on roughly 5.4 acres — places this development among the larger integrated hospitality-commercial schemes in the Mumbai Metropolitan Region. In June 2026, the SPV ACHIL purchased the Sahar land parcel from the parent company for ₹275 crore, setting the stage for this joint venture. Prestige Estates Projects Limited announced the investment agreement on July 3, 2026, with the transaction expected to conclude within 45 days.
Prestige's hospitality development approach — honed across Bengaluru projects partnered with Marriott, Hilton, and Banyan Tree — brings operator-grade design discipline to this Sahar scheme. The group has consistently retained ownership of hospitality assets while working with global hotel brands, a model that generates durable rental income and positions assets for future institutional monetisation.
Sahar is not simply a suburb near the airport — it is the airport's immediate urban hinterland. Sahar Village is home to the international terminal of Chhatrapati Shivaji Maharaj International Airport, and has seen rapid urban development since the airport's inception and the establishment of the first Leela Group hotel here. That hospitality heritage gives the locality a baseline of institutional-grade demand that few Mumbai micro-markets can match.
Road infrastructure serving Sahar has been upgraded significantly. The Sahar Elevated Access Road (SEAR) is a dedicated elevated express road that connects the Western Express Highway near Hanuman Nagar junction in Vile Parle directly with the forecourts of Terminal T2 of Chhatrapati Shivaji Maharaj International Airport, improving travel times between the highway and the airport. The 2.2 km access road has four entry points and two exit points. For a hospitality and commercial asset, direct airport connectivity of this calibre is a fundamental leasing argument.
Metro connectivity has since reinforced Sahar's accessibility further. The Sahar Road Metro Station on Mumbai Metro Line 3 (the Aqua Line) occupies a unique position between the two major airport terminals, serving as a critical piece of infrastructure for the Andheri business district. A direct southbound journey from Sahar Road station covers 12.9 km in approximately 24 minutes, reaching Bandra Colony and connecting through to Cuffe Parade. This means the BKC financial district, SEEPZ, and South Mumbai's corporate corridors are all within a single metro line of the Prestige Sahar project's address.
Andheri East's strategic location near key transportation arteries — including the Eastern and Western Express Highways, the Jogeshwari-Vikhroli Link Road, and the metro — ensures efficient commutes within the city. The locality's proximity to Marol, Saki Naka, Chakala, and Vile Parle gives it an excellent road network with public transport facilities offering connectivity to the key commercial and social hubs of Mumbai.
Andheri East stands as a prime and valuable space for commercial buyers, renowned for its strategic location and connectivity, functioning as a vibrant business hub offering an array of opportunities for businesses seeking a strong presence. The Sahar sub-pocket within Andheri East is specifically associated with airport-adjacent hospitality and corporate accommodation — a segment structurally driven by airline crew demand, MICE (Meetings, Incentives, Conferences, Exhibitions) traffic from BKC, and the large SEEPZ and Marol MIDC corporate employment base nearby.
The area caters to the "floating population" of Mumbai — airline staff, consultants at BKC, and IT employees at SEEPZ — a demand base that is both large and consistent. Since the announcement of Mumbai Metro Line 3, property prices in the Sahar Road vicinity have appreciated by 20–30%. For a commercial and hospitality asset of the scale Prestige is developing, metro-enabled price appreciation in the residential surrounds is a further indicator of macro demand strength in this corridor.
The Sahar integrated project fits within a pattern of deliberate commercial expansion Prestige has pursued in airport-adjacent zones. The group's Prestige Trade Centre DIAL in Delhi's Aerocity — another airport-adjacent commercial campus — demonstrates the format: Grade-A commercial space combined with hospitality, positioned to capture both corporate and transit demand. The Sahar project replicates that logic in India's highest-footfall international airport neighbourhood.
Prestige's Turf Tower in Mahalaxmi — its first Grade A commercial development in Mumbai — already signals the group's intent to grow its commercial portfolio in the city by catering to the increasing demand for high-quality office space in prime locations. Sahar represents the next, and larger, expression of that intent. Prestige's entry into this market follows its broader strategy of expanding from Bengaluru into the high-margin Mumbai commercial landscape.
In recent years, the group has scaled aggressively across residential, commercial, retail, and hospitality assets — and the ₹504 crore commitment to Sahar sits within a pipeline of 65 new project launches Prestige has planned for 2026 alone, covering 73 million sq. ft. across the country. For a buyer or investor evaluating Prestige Group's presence in Sahar, Andheri East, the relevant question is not whether Prestige will execute — their Mumbai track record already answers that — but rather what the Sahar micro-market looks like when a 1.50-million-sq.-ft. institutional hospitality and commercial asset joins an already strengthening transit and commercial corridor.