Prestige Estates Projects has entered into a framework agreement on May 28, 2025 with Valor Estate and its wholly owned subsidiaries i.e., Esteem Properties and Advent Hotels International (Valor, Esteem and Advent are collectively referred as Valor Group), for jointly developing a project on lands admeasuring in the aggregate 21,978.22 sq. mts. lying and being at Sahar, Village - Andheri, Taluka - Andheri East, District - Mumbai Suburban District for commercial user by forming a Special Purpose Vehicle (SPV).
The Project entails a total leasable area of approximately 1.50 million sq. ft. and a Gross Development Value of around Rs 4,500 crore. Both Valor and the company shall have a 50% economic interest in the Project. The company will infuse Rs 504 crore into the SPV upon completion of the conditions precedent and hold 50% of the economic and voting rights.
Prestige Estates Projects is the flagship company of the Prestige Group. Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.
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