Prestige Estates Acquires 50% Stake in Aaramnagar Realty LLP for ₹180 Crore to Facilitate Versova Residential Project in Mumbai
Prestige Estates Marks Entry into Premium Mumbai Residential Market
Prestige Estates Projects Limited acquired a 50% partnership interest in Aaramnagar Realty LLP on April 9, 2026, for ₹180 crore in cash to facilitate development of a real estate project in Versova, Mumbai. The transaction involved no related party considerations and maintained full regulatory compliance.
Project Scale and Partnership Structure
Through the joint venture with ABIL Group via Aaramnagar Realty LLP, the development spans approximately 6 acres with around 1.7 million square feet of RERA area and an estimated Gross Development Value of over ₹9,000 crores. Aaramnagar Realty LLP, a real estate development firm formed in 2018, had recorded no turnover over the past three years prior to the acquisition.
ABIL Group, the partner in the joint venture, brings expertise as a developer of premium real estate and hospitality projects in Pune and Mumbai. Founded in 1979, ABIL Group has been synonymous with efficiency, quality, excellence, sustainability and customer centricity. The collaboration is structured through Aaramnagar Realty LLP, which jointly holds development rights to a prime land parcel in Aram Nagar, Versova.
Versova as a Strategic Location
Versova is the elevated western terminal metro station on the East-West Corridor of the Blue Line 1 of Mumbai Metro serving the Seven Bungalows, Yari Road and Versova neighbourhoods of Andheri, having opened to the public on 8 June 2014. With 12% of all Blue Line 1 commuters traveling through the station, Versova is the third-busiest station on the line, after Ghatkopar and Andheri.
Versova's appeal as a micro-market stems from its robust social infrastructure, strong connectivity, and strategic proximity to key commercial hubs across the city. Prestige has consolidated ownership in premium micro-markets such as Bandra Kurla Complex and Mahalaxmi, while extending outward to locations like Versova and Andheri.
Prestige Group's Market Expansion
For investors and the broader real estate market, the disclosures highlight three measurable drivers: pipeline scale (6.2 million sq ft by 2028), ownership structure (100% control in BKC and Mahalaxmi projects), and capital commitments in partnerships. The company maintains a robust portfolio of 313 delivered projects spanning 206 million square feet and a current pipeline of 128 projects across 195 million square feet as of December 2025.
The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.