Prestige Group Expands with Major Land Acquisition to Develop ₹20,000 Crore Housing Projects
Prestige Estates Projects Ltd has acquired 102 acres of land across key cities to develop residential projects worth an estimated ₹20,400 crore. The company also reported a 26% increase in net profit and aims to achieve ₹27,000 crore in sales bookings for FY26.
Real EstateLand AcquisitionPrestige EstatesResidential ProjectsProperty DevelopmentReal Estate MumbaiAug 09, 2025
According to the company's latest investor presentation, the land parcels will be used to develop residential projects that align with the growing demand for quality housing in these cities. Prestige Estates has been actively acquiring land outright and partnering with landowners to expand its footprint and meet the rising demand for residential properties.
In Hyderabad, Prestige Estates acquired two plots: 28 acres in Tellapur and 37 acres in Pulimamidi. In Bengaluru, the company secured three land parcels: 10 acres in Poojanahalli-Devanahalli, 7 acres in Kothanuru, KR Puram, and 10 acres in Ittangur, Sarjapura. Additionally, the company acquired 3.48 acres in Velachery, Chennai, and 6.3 acres in Mumbai.
The presentation did not disclose the cost of the land acquisitions. However, the company's financial performance in Q1 FY26 was robust, with a 26% increase in consolidated net profit to ₹292.5 crore. The net profit in the year-ago period was ₹232.6 crore. The total income also saw a significant rise, increasing 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 previous year.
Prestige Estates Projects Ltd has also reported a substantial increase in sales bookings, with a four-fold jump to ₹12,126.4 crore in the first quarter of FY26. This growth is primarily attributed to strong demand for its housing project in Ghaziabad. In the year-ago period, the company's sales bookings stood at ₹3,029.5 crore. Despite a decline in sales bookings during the entire last fiscal year (2025), the company remains optimistic and has set a target of achieving ₹27,000 crore in sales bookings for the current fiscal year.
Prestige Group, known for its extensive portfolio of residential, commercial, and hospitality projects, has delivered over 300 projects and currently has a pipeline of around 140 projects. The company's strategic expansion and strong financial performance underscore its commitment to delivering high-quality projects and meeting the diverse needs of its customers.
Looking ahead, Prestige Estates is poised to continue its growth trajectory by leveraging its strong market position and strategic land acquisitions. The company's focus on expanding its commercial and hospitality portfolios alongside residential projects further solidifies its position as a leading real estate developer in India.
Frequently Asked Questions
What cities did Prestige Estates acquire land in?
Prestige Estates acquired land in Bengaluru, Hyderabad, Chennai, and Mumbai.
How many acres of land did Prestige Estates acquire in Q1 FY26?
Prestige Estates acquired a total of 102 acres of land in Q1 FY26.
What is the estimated revenue potential from the new housing projects?
The new housing projects are estimated to generate a revenue of ₹20,400 crore.
What was the percentage increase in Prestige Estates' net profit in Q1 FY26?
Prestige Estates reported a 26% increase in consolidated net profit to ₹292.5 crore in Q1 FY26.
What is Prestige Estates' target for sales bookings in FY26?
Prestige Estates aims to achieve ₹27,000 crore in sales bookings for FY26.
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