Could this become Prestige's biggest Mumbai bet?

Advent Hotels jumped over 8% after Prestige Estates bought a 50% stake in its subsidiary, Advent Convention and Hotels International, for up to ₹504 crore.

The deets: this isn't a hotel acquisition. Prestige is buying into a company that's developing a massive commercial project in Sahar, Andheri East. The area is one of Mumbai's busiest business districts, right next to the international airport.

The project will span 1.5 million sq. ft. of leasable office space and has an estimated gross development value (GDV) of around ₹4,500 crore.

Why Sahar matters: Andheri East has become one of Mumbai's biggest office hubs, home to multinational companies, GCCs, IT firms, banks and aviation-related businesses. With strong demand for premium office spaces and limited land available, projects in this micro-market typically command high rentals and valuations.

Zoom out: India's office market continues to boom, with 48.9 million sq. ft. of office space leased in the first half of 2025, a record for any six-month period. GCCs alone accounted for 39% of all transactions, while Mumbai remained one of the country's fastest-growing office markets.