Prestige Estates Acquires 102 Acres to Develop ₹20,400 Crore Housing Projects
Prestige Estates Projects Ltd has acquired 102 acres of land in Q1 to develop residential projects worth over ₹20,400 crore, expanding its footprint in key cities across India.
Prestige EstatesReal EstateResidential ProjectsLand AcquisitionBengaluruReal Estate NewsAug 09, 2025
Looking to expand its residential real estate business, Bengaluru-based Prestige Estates Projects has been acquiring land parcels outright and also partnering with landowners. According to its latest investor presentation, the company acquired a total of 102 acres of land in Bengaluru, Hyderabad, Chennai, and Mumbai in the first quarter of this fiscal year.
These land parcels will be used to develop residential projects with an estimated gross development value (GDV) of ₹20,400 crore. In Hyderabad, Prestige Estates acquired two plots: 28 acres in Tellapur and 37 acres in Pulimamidi. In Bengaluru, the company has acquired three land parcels: 10 acres in Poojanahalli - Devanahalli, 7 acres in Kothanuru, KR Puram, and 10 acres in Ittangur, Sarjapura. At Velachery in Chennai, the company acquired 3.48 acres, and in Mumbai, it acquired 6.3 acres of land.
The presentation did not mention the cost of the land. However, the company's financial performance has been robust. Prestige Estates recently reported a 26 percent increase in its consolidated net profit to ₹292.5 crore during the first quarter of this fiscal year. In the year-ago period, its net profit stood at ₹232.6 crore. The total income rose to ₹2,468.7 crore during the April-June period of this fiscal year from ₹2,024.5 crore in the corresponding period of the preceding year.
Last month, Prestige Estates Projects Ltd reported a four-fold jump in its sales bookings to ₹12,126.4 crore in the first quarter of FY26, primarily due to strong demand for its housing project in Ghaziabad. The company's sales bookings or pre-sales stood at ₹3,029.5 crore in the year-ago period. During the entire last fiscal year, Prestige Estates' sales bookings declined 19 percent to ₹17,023.1 crore, reflecting the impact of deferred launches amid approval delays.
The company has given guidance of achieving ₹27,000 crore worth of sales bookings during the current fiscal year. Prestige Group has delivered over 300 projects and has a pipeline of around 140 projects, solidifying its position as a leading player in the Indian real estate market.
Prestige Group's strategic land acquisitions and strong financial performance underscore its commitment to expanding its residential real estate business. With a robust pipeline of projects and a focus on key cities, the company is well-positioned to capitalize on the growing demand for quality housing in India.
Frequently Asked Questions
How much land did Prestige Estates acquire in the April-June quarter?
Prestige Estates acquired 102 acres of land in the April-June quarter.
What is the estimated gross development value (GDV) of the new projects?
The estimated gross development value (GDV) of the new projects is ₹20,400 crore.
In which cities did Prestige Estates acquire land?
Prestige Estates acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
What was the net profit of Prestige Estates in the first quarter of this fiscal year?
Prestige Estates reported a net profit of ₹292.5 crore in the first quarter of this fiscal year.
What is the sales booking target for the current fiscal year?
Prestige Estates has set a sales booking target of ₹27,000 crore for the current fiscal year.
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