PRESTIGE'S RS 10,000 CRORE MMR EXPANSION

Bengaluru-based Prestige Estates Projects has drawn up one of its most aggressive West India plans yet. Prestige Estates Projects has planned a capital expenditure of ₹8,000-10,000 crore for the next two to three years for the expansion of its portfolio across West India, mainly the Mumbai metropolitan Region (MMR). The scale of intent is backed by execution already on the ground: Tariq Ahmed, chief executive officer, West India, Prestige Group, said that the company has already launched ₹25,000 crore of residential projects in MMR, while it is actively scouting for the right opportunities in the city of Pune.

The expansion is not scattered across the city — it is concentrated in specific corridors. For its expansion in the region, the company is interested in the micro-markets of the Thane-Navi Mumbai area, Goregaon, Borivali, and Andheri within MMR and Pune, as the reception of its projects has been good, and it aims to capitalise on that. This is a deliberate bet on the western and central suburbs plus the eastern Thane-Navi Mumbai belt, where Prestige believes it can replicate the early success of its Mumbai launches.

The route to growth blends land buys with partnership-led redevelopment. The company's expansion strategy in the region includes redevelopment projects under SRA and society redevelopment, joint development ventures, and mid segment housing in the Rs.2–5 crore range, alongside its 'Homes for All' initiative. On revenue contribution, Prestige's West team contributes about 20 per cent to the group's total revenue, and going ahead, Ahmed expects this share to hover around 20-25 per cent, signalling that MMR is moving from a side bet to a core growth engine alongside the South India business.

Beyond residential towers, Prestige has also locked in a large state-backed investment. Prestige and the Maharashtra government have signed a ₹12,500 crore "strategic investment deal" spanning a data centre, a global competency centre, and a logistics facility with residential and commercial properties, expected to generate around 8,700 direct jobs, alongside thousands of indirect opportunities. Specifically, it includes a ₹5,000 crore data centre at Taloja (Navi Mumbai), a ₹5,000 crore global competency centre in Navi Mumbai, and a ₹2,500 crore logistics-cum-residential and commercial development at Khalapur, with projects expected to commence in 2026.

On the residential side, three moves show how the strategy is playing out on the ground. In Andheri West, the ₹9,000 crore Prestige Versova entry in April 2026 marked a major western-market expansion for the group. In Thane, Prestige Estates Projects Ltd announced a strategic partnership for a ₹6,000 crore residential project in Thane on July 29, 2026, with the 14.6-acre development near Kolshet-Balkum Road offering over 5 million square feet of space, combining residential and retail components. And in Mulund, where Prestige already runs its integrated 'Prestige City' township, the developer has officially launched Phase 2 of its landmark project, 'Prestige Forest Hills' at The Prestige City in Mulund, Mumbai, introducing 500 high-end 3 and 4 BHK residences with an estimated Gross Development Value of ₹2,200 crore.

The balance sheet behind this expansion looks equally strong. The company's pre-sales or sales bookings stood at a record Rs 30,024 crore in the 2025-26 fiscal, up 76 per cent from the preceding year. Momentum has carried into the new fiscal too, with a launch pipeline that industry trackers peg near ₹58,000 crore for FY27, giving Prestige the capital cushion to fund a multi-year MMR build-out without leaning solely on pre-sales.

For homebuyers, this concentration of capital into Thane-Navi Mumbai, Goregaon, Borivali and Andheri means more inventory, more configurations, and — eventually — more price competition across these corridors as Prestige, along with existing players, scales up supply. Buyers evaluating a purchase in these micro-markets should track individual project RERA filings closely, since many of these announcements (including the Thane and Andheri developments) are still at joint-development or pre-RERA stage.

Pune is the next frontier once MMR execution matures. Ahmed described Pune as a market that is "absolutely a copy-paste of the metrics that we see in Bengaluru" in terms of IT-oriented buyers, and stated that the company wants to enter Pune in a "classic, Prestige way of finding something substantial." That suggests the current MMR blitz is really phase one of a broader West India strategy rather than a standalone push.