Prestige Estates Expands with 102 Acres of Land for Rs 20,000 Crore Residential Projects
Bengaluru-based Prestige Estates Projects has acquired 102 acres of land across major cities to develop residential projects with an estimated gross development value of Rs 20,000 crore.
Real EstateLand AcquisitionResidential ProjectsPrestige EstatesProperty DevelopmentReal EstateAug 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, which would have an estimated gross development value (GDV) of Rs 20,400 crore. In Hyderabad, the company 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. Prestige acquired 6.3 acres of land in Mumbai. The presentation did not mention the cost of the land.
On financial performance, the company recently reported a 26 per cent increase in its consolidated net profit to Rs 292.5 crore during the first quarter of this fiscal. Its net profit stood at Rs 232.6 crore in the year-ago period. The total income rose to Rs 2,468.7 crore during the April-June period of this fiscal from Rs 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 Rs 12,126.4 crore in the first quarter of FY26, mainly due to strong demand for its housing project in Ghaziabad. The company’s sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago period. During the entire last fiscal year, Prestige Estates sales bookings declined 19 per cent to Rs 17,023.1 crore, “reflecting the impact of deferred launches amid approval delays.”
The company has given guidance of achieving Rs 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.
Frequently Asked Questions
How much land did Prestige Estates acquire in the April-June quarter?
Prestige Estates acquired a total of 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 Rs 20,400 crore.
In which cities did Prestige Estates acquire land?
Prestige Estates acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
What was the company's consolidated net profit in the first quarter of this fiscal year?
The company's consolidated net profit in the first quarter of this fiscal year was Rs 292.5 crore, a 26 per cent increase from the previous year.
What is Prestige Estates' sales booking guidance for the current fiscal year?
Prestige Estates' sales booking guidance for the current fiscal year is Rs 27,000 crore.
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