Prestige Group inks ₹12,500-cr investment deal with Maharashtra for 3 mega projects

Prestige Group’s investment of around ₹5,000 crore will be used to develop the data center at Taloja, Navi Mumbai, and will bring about 1,200 direct jobs. The other ₹5,000 crore will go into developing a global competency center, probably in Navi Mumbai, with possible employment for about 5,000 professionals.

Another project worth ₹2,500 crore is being planned for logistics cum residential, and commercial development at Khalapur, which is located on the outskirts of the Mumbai Metropolitan Region. “Our proposed investments will not only create jobs and bring global talent, but also strengthen Maharashtra’s position as the country’s foremost destination for business and innovation in India.”

According to Zayd Noaman, the executive director of Prestige Group, the partnership is an indication of the commitment of developer to provide the world’s best infrastructure along with the state’s economic vision. As for the statement made by P. Anbalagan, Secretary (Industries), Government of Maharashtra, regarding the signed agreement, he said: “The investment of Prestige Group would be welcomed and appreciated by the Government of Maharashtra as in line with our initiatives for generating large-scale employment and propelling industrial growth”.

Prestige Group now aggressively sets foot in Mumbai, NCR, Hyderabad, and Chennai and has completed over 300 projects, conducting most projects outside the comfort zone of Bengaluru. Prestige Group, which has completed over 300 projects, most obtained way beyond its comfort zone of Bengaluru, is expanding aggressively to Mumbai, NCR, Hyderabad, and Chennai.

The Maharashtra projects reinforce the mission of the company to toe the line of state-led industrial and urban development. These investments will soon bring to prominence Navi Mumbai and Khalapur as high-growth investment corridors infused with modern infrastructure, skilled jobs, and economic opportunities.