Prestige Estates Projects will take over a Mumbai housing project from bankrupt Ariisto Developers following a court decision Tuesday.
The Bengaluru-based developer plans to launch the first phase of the project by May and second phase toward the end of the year, Prestige’s Chief Executive Officer Venkat K Narayana said by phone on Wednesday.
He estimates revenues of more than Rs 100 billion ($1.4 billion) from the 7.5 million square feet under development. “This will be our largest project in Mumbai,” Narayana said.
Prestige emerged as a top bidder for beleaguered Ariisto in November 2019. But the
The Bengaluru-based developer plans to launch the first phase of the project by May and second phase toward the end of the year, Prestige’s Chief Executive Officer Venkat K Narayana said by phone on Wednesday.
He estimates revenues of more than Rs 100 billion ($1.4 billion) from the 7.5 million square feet under development. “This will be our largest project in Mumbai,” Narayana said.
Prestige emerged as a top bidder for beleaguered Ariisto in November 2019. But the