Overview
- Prestige Estates completed the purchase of a 50% stake in Aaramnagar Realty LLP with a Rs 180 crore infusion to fund the Versova plan.
- The LLP controls development rights for a roughly six-acre site in Aram Nagar that carries an estimated gross development value above Rs 9,000 crore.
- Prestige will co-develop the project with ABIL Group as a premium housing scheme sized at about 1.7 million sq ft of RERA area.
- The company said the deal is not a related-party transaction and required no regulatory approvals at closing.
- Management framed the move as part of a larger Mumbai expansion following strong FY26 pre-sales of Rs 30,024 crore that signal capacity to add big projects.