Realty firm Prestige Estates Projects Ltd has partnered with Valor Group to develop an office complex worth ₹4,500 crore in Mumbai.
In a regulatory filing on Thursday, Prestige Estates said that it has entered into a framework agreement with Valor Estate Ltd and its wholly owned subsidiaries for jointly developing a project on lands admeasuring in the aggregate 21,978.22 square metres at Andheri West, Mumbai.
The project entails a total leasable area of 1.5 million sq ft and a Gross Development Value (GDV) of about ₹4,500 crore.
Both Prestige Estates and Valor will have a 50 per cent economic interest in the project.
“The company and Valor Group shall jointly develop approximately 1.50 million sq. ft. leasable area commercial office complex on a 50:50 joint venture basis,” Prestige Estates said.
The company will infuse ₹504 crore into the SPV (special purpose vehicle), which will be established to develop this project.
Published on May 30, 2025
