Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Update on the Slum Rehabilitation Project at Worli, Mumbai

Valor Estate, in partnership with Prestige Estates, is progressing the Jijamata Nagar Redevelopment Project in Worli through its 50%-owned subsidiary Worli Urban Development Project LLP. The project covers ~70,000 sq. meters of MCGM-owned land and involves rehabilitating ~4,029 residential and commercial structures, of which 3,661 families have already been relocated. Demolition orders have been issued for the remaining structures, and the Bombay High Court has directed remaining occupants to vacate by June 25, 2025. Once cleared, the site will be developed as 'The Prestige Place,' a mixed-use project with planned sale FSI exceeding 4 million sq. ft., designed by Skidmore, Owings & Merrill (SOM). The project also includes land reserved for the Mumbai Sewerage Disposal Project's Love Grove pumping works.