Prestige Group Expands in Delhi NCR: Plans Major Projects by 2026
Bengaluru-based real estate major Prestige Group is planning rapid expansion in Delhi-NCR on the back of a near sellout of the first phase of its flagship project, Prestige City in Indirapuram Extension, Ghaziabad. The developer sold more than ₹8,000 crore worth of inventory out of a total of ₹11,000 crore in the first phase, prompting it to launch another phase of the same project called MayFlower earlier this month. The MayFlower project has a gross development value (GDV) of around ₹2,200 crore.
Praveer Srivastava, Senior Vice President at Prestige Group, said, “We are already working on some proposals in Gurgaon, Delhi, as well as in Noida. Definitely, we are there for the long term and looking at deepening and actually widening our footprint there. Hopefully, by 2026, we should have more projects in the Delhi-NCR market.”
Delhi-NCR has had the largest share of sales in the first half of 2025-26 (H1FY26), with 45 per cent of total sales coming from the region. This is higher than the company’s primary areas of operations in Bengaluru and Mumbai. For the half year ended September 2026, sales volumes aggregated 13.96 million square feet (msf), representing 6,788 units sold. Value-wise, sales worth ₹18,143 crore were recorded, up 157 per cent year-on-year (Y-o-Y), surpassing the full-year sales of FY25. A third of the sales came in the second quarter ended September, up by 50 per cent Y-o-Y.
The average realisation for apartments was up 8 per cent Y-o-Y to ₹14,906 per square foot (sq ft), while plots saw a sharp 43 per cent increase in realisation to ₹9,510/sq ft. This underscores the company’s strategy to offer a higher number of plotted developments. “We’ve seen demand for plotted developments on the rise in the market, especially with us, since plotted developments will not just be a developed land but will be a developed community, having a proper club house with good infrastructure. Plotted developments will also have plug-and-play infrastructure facilities with clear title. Therefore, our plotted developments are typically at a premium of 20-25% to the market, and still, they get sold out in the very first month of our launch,” Srivastava added.
While customers are more discerning, the demand for good developments by reputed builders remains high, bucking the slowdown trend being seen in the overall residential market. This is why the company is planning to bring more inventory into the market. Beyond Delhi-NCR, the company plans to launch Prestige Garden Trail on Mira Road, Thane, and three large residential high-rise apartment projects and one plotted development project in Bengaluru, with a GDV of ₹7,500 crore, in the quarter ending December. In Hyderabad’s Kollur area, a 5,000-plus apartment complex with a GDV of ₹7,500 crore will come up.
Srivastava said, “We have done ₹18,000 crore in the last six months in terms of bookings, against ₹17,000 crore in FY25. So, I would be up by maybe 50 per cent or 60 per cent for the year as opposed to last year on a full-year basis.” On the commercial side, the company has leased 6 msf of space in the first nine months of the year, which was equal to the full year leasing it did in 2024.
