Prestige Group Acquires 102 Acres for Rs 20,000 Crore Residential Projects
Prestige Estates Projects Ltd has acquired 102 acres of land in Q1 to build residential projects worth Rs 20,000 crore, expanding its presence in Bengaluru, Hyderabad, Chennai, and Mumbai.
Real EstateResidential ProjectsProperty DevelopmentLand AcquisitionPrestige GroupReal Estate MumbaiAug 09, 2025
The company has been actively acquiring land parcels outright and partnering with landowners to expand its portfolio. According to the latest investor presentation, the land parcels acquired will be used to develop high-value residential projects. In Hyderabad, Prestige Estates has acquired two plots: 28 acres in Tellapur and 37 acres in Pulimamidi. These acquisitions are expected to contribute significantly to the company's growth in the region.
In Bengaluru, the company has secured three land parcels: 10 acres in Poojanahalli-Devanahalli, 7 acres in Kothanuru, KR Puram, and 10 acres in Ittangur, Sarjapura. These areas are known for their strategic locations and growing demand for residential properties. In Chennai, Prestige acquired 3.48 acres in Velachery, a prime location known for its well-developed infrastructure and amenities.
Additionally, the company has acquired 6.3 acres of land in Mumbai, further strengthening its presence in the financial capital of India. The presentation did not disclose the cost of the land, but the acquisitions are expected to drive the company's revenue and market share in the coming years.
On the financial front, Prestige Estates Projects Ltd reported a strong performance in the first quarter of this fiscal year. The company's consolidated net profit increased by 26% to Rs 292.5 crore, up from Rs 232.6 crore in the year-ago period. The total income also saw a significant rise, growing to Rs 2,468.7 crore during the April-June period from Rs 2,024.5 crore in the corresponding period of the previous year.
Last month, the company reported a four-fold jump in its sales bookings, which reached Rs 12,126.4 crore in the first quarter of FY26. This substantial increase is primarily attributed to the strong demand for its housing project in Ghaziabad. In the year-ago period, the company's sales bookings stood at Rs 3,029.5 crore. Despite a 19% decline in sales bookings during the entire last fiscal year, reflecting the impact of deferred launches amid approval delays, Prestige Group remains optimistic about its future prospects.
The company has set an ambitious target of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year. With a track record of delivering over 300 projects and a pipeline of around 140 projects, Prestige Group is well-positioned to capitalize on the growing demand for residential properties in India's major cities.
Prestige Group's strategic land acquisitions and robust financial performance highlight its commitment to expanding its residential real estate business. The company's focus on key cities with high growth potential and its strong financial health make it a formidable player in the Indian real estate market.
Frequently Asked Questions
What is the total land area acquired by Prestige Group in the first quarter of this fiscal year?
Prestige Group acquired a total of 102 acres of land in the first quarter of this fiscal year.
In which cities did Prestige Group acquire land?
Prestige Group acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
What is the estimated gross development value (GDV) of the residential projects?
The estimated gross development value (GDV) of the residential projects is Rs 20,400 crore.
How much did Prestige Group's net profit increase in the first quarter of this fiscal year?
Prestige Group's net profit increased by 26% to Rs 292.5 crore in the first quarter of this fiscal year.
What is Prestige Group's target for sales bookings in the current fiscal year?
Prestige Group aims to achieve Rs 27,000 crore worth of sales bookings in the current fiscal year.
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