Latest news with #PrestigeJasdanClassic
Hindustan Times
30-05-2025
- Business
- Hindustan Times
Prestige Estates partners with Valor Group to develop an office complex project worth ₹4,500 crore in Mumbai's Andheri
Bengaluru's listed real estate developer, Prestige Estates Projects Ltd, has partnered with Mumbai-based Valor Group (formerly known as DB Realty) to develop an office complex worth ₹4,500 crore in Mumbai's Andheri area. According to a regulatory filing, the project's estimated Gross Development Value (GDV) is approximately ₹4,500 crore, with Valor and Prestige each holding a 50% economic stake. The joint development agreement was signed on May 28 for land measuring 21,978.22 square metres in Andheri East, Mumbai. As per the filing, ₹504 crore will be infused into a Special Purpose Vehicle (SPV) that will be set up to execute the project. Also Read: Maharashtra Housing Policy 2025 offers major benefits for senior living buyers; Stamp duty reduced to flat ₹1,000 Prestige Estates announced on May 28 that it has successfully completed the first three landmarks in Mumbai, including Siesta at The Prestige City, Mulund, Prestige Jasdan Classic, and Prestige Turf Tower in Mahalaxmi. The company said these developments collectively span 2.8 million sq ft and mark the Group's significant debut delivery in the city since its Mumbai launch in 2022. Also Read: Mumbai's landmark ₹639 cr property deal: Why are pharma tycoons investing in luxury flats in the financial capital? According to the company, it will be handing over possession of nearly 700 residences and 130 office units in the coming months. Prestige Estates has a 38-year legacy and has delivered over 300 projects in the residential, commercial, retail, hospitality, and mixed-use segments. The company also recently announced its entry into the Delhi NCR real estate market. Also Read: Bengaluru-based Prestige Estates aims to 'rewrite the way real estate is done' in NCR On May 6, Irfan Razack, chairman and managing director of Prestige Estates, said that the company aims to 'rewrite the way real estate is done in the region,' with an emphasis on quality and timely delivery, key concerns that have historically plagued the Delhi-NCR property market.
Business Upturn
29-05-2025
- Business
- Business Upturn
Prestige Estates shares surge over 3% after completing three landmark projects in Mumbai
By Aman Shukla Published on May 29, 2025, 10:00 IST Prestige Estates' shares jumped over 3% in morning trade following the successful completion and inauguration of its first three major projects in Mumbai: Siesta at The Prestige City, Mulund; Prestige Jasdan Classic, Mahalaxmi; and Prestige Turf Tower, Mahalaxmi. These developments cover a vast 2.8 million square feet, marking Prestige Group's strong debut in Mumbai since its 2022 launch. The Group plans to hand over nearly 700 premium residential units and 130 office spaces soon, reinforcing its reputation for timely delivery and high-quality construction. Siesta at The Prestige City, Mulund, is a premium 54-storey residential tower featuring 462 sky-lounge apartments and a multi-level clubhouse with extensive lifestyle amenities. Prestige Jasdan Classic, located in the prime Mahalaxmi area, offers 233 luxury residences in a 45-storey boutique tower with facilities like a swimming pool, gym, badminton and squash courts, and a banquet hall. Additionally, Prestige Turf Tower is a Grade A commercial building overlooking the Mahalaxmi Race Course, expanding Prestige's presence in Mumbai's commercial real estate market. Prestige Estates' shares opened at ₹1,476.00, and, at the time of writing, reached a high of ₹1,508.90 and a low of ₹1,472.00 during the trading session. The stock remains below its 52-week high of ₹2,074.80 but well above the 52-week low of ₹1,048.05. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
