Prestige Group Acquires 102 Acres for ₹20,400 Crore Housing Projects
Prestige Estates Projects Ltd has secured 102 acres of land in major cities to develop residential projects worth ₹20,400 crore. The company also reported a 26% increase in net profit to ₹292.5 crore in Q1 FY26.
Prestige GroupReal EstateHousing ProjectsLand AcquisitionBengaluruReal EstateAug 09, 2025
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 ₹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. Prestige also acquired 6.3 acres of land in Mumbai.
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% increase in its consolidated net profit to ₹292.5 crore during the first quarter of this fiscal. Its net profit stood at ₹2,326.6 crore in the year-ago period. The total income rose to ₹2,468.7 crore during the April-June period of this fiscal 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, mainly 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 per cent to ₹417,023.1 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. The company is also expanding its commercial and hospitality portfolios alongside residential projects, further diversifying its revenue streams and strengthening its market presence.
Frequently Asked Questions
What is the total land acquired by Prestige Estates in Q1 FY26?
Prestige Estates acquired a total of 102 acres of land in Q1 FY26.
In which cities did Prestige Estates acquire land?
Prestige Estates acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
What is the estimated revenue potential from the new land acquisitions?
The estimated gross development value (GDV) from the new land acquisitions is ₹20,400 crore.
What was the net profit of Prestige Estates in Q1 FY26?
Prestige Estates reported a net profit of ₹292.5 crore in Q1 FY26, a 26% increase from the previous year.
What is Prestige Estates' target for sales bookings in FY26?
Prestige Estates has set a target of achieving ₹27,000 crore worth of sales bookings in FY26.
Related News Articles
Mumbai's Sky-High Ambitions: Exploring the City's Love for Skyscrapers
As Mumbai continues to grow
Mumbai Records Third-Highest Surge in Luxury Housing Prices Globally
Mumbai's prime residential prices surge 11.5% year-on-year, ranking third globally, as India's economic growth drives demand in luxury housing market.
Affordable Housing Supply Dries Up as Builders Focus on Premium Projects
The latest data from JLL India reveals a 21% decline in affordable housing supply below Rs 50 lakh, while premium projects saw a significant surge in demand.
Priyanka Chopra's Real Estate Empire: A Peek into Her Investments
Priyanka Chopra Jonas is a keen investor in the real estate space, owning multiple properties in India and the US. Here's a look at her recent transactions.
Uber and Heads Up for Tails Expand Pet-Friendly Rides in Delhi and Mumbai
Uber has partnered with Heads Up for Tails to offer pet-friendly rides in Delhi and Mumbai, making travel more convenient and comfortable for pet owners.
Blackstone and Sattva-backed REIT Files Draft Papers for ₹7000 Cr IPO
A real estate investment trust (REIT) backed by asset manager Blackstone Group and Bengaluru developer Sattva Group has filed its draft papers with the Securities and Exchange Board of India (SEBI) for a ₹7000 crore initial public offering (IPO).