Prestige Group has been reshaping Indian cities since 1986, when Razack Sattar pivoted the family's retail business in Bengaluru into real estate with its first project, Prestige Court on KH Road. Four decades on, the company — now led by Chairman and Managing Director Irfan Razack alongside brothers Rezwan and Noaman Razack — has delivered over 300 completed projects covering more than 180 million square feet across residential, commercial, retail, and hospitality segments. It listed on Indian stock exchanges in 2010 and, as of 2025, holds CRISIL's DA1+ developer grade — the highest in the country and one it holds exclusively among listed real estate firms.
Pune is the group's most recent geographic commitment. Until 2024, Prestige's presence in the city was limited to a commercial portfolio. The shift to residential here was deliberate: the group publicly identified Pune's IT and tech workforce as a demographic that already knew the brand from Bengaluru, where Prestige has built IT campuses housing tenants such as Accenture, Capgemini, and Oracle, and residential townships that house those same professionals.
Pune's economy is driven by IT, manufacturing, and automotive sectors, with over 230 companies across 95 industries — including Cisco and Capgemini — reinforcing its status as a technology city. Residential demand in the micro-markets nearest those offices has followed directly. Average property prices in Baner, Wakad, and Kharadi ranged from roughly ₹7,500 to ₹10,000 per square foot in 2025, with annual appreciation running at 8–10% in those corridors. The ongoing Pune Metro expansion is extending that uplift further east, with a proposed Kharadi metro station expected to bring mass transit connectivity to the quarter by around 2028.
Prestige arrived in Pune with a stated revenue target of ₹750 crore to ₹1,000 crore from its initial 1 million square foot residential launch — numbers that reflect both the scale of its ambition here and the depth of addressable demand. In November 2025, the company signalled a broader commitment, announcing capital expenditure of up to ₹10,000 crore to expand across West India, with Pune named alongside Mumbai as a primary market.
Kharadi — Pune's eastern IT corridor — is where Prestige has concentrated its initial footprint. The micro-market is anchored by EON IT Park (a special economic zone co-owned by Panchshil and Blackstone), the World Trade Centre, and Commerzone, collectively hosting over 100 multinational tenants including Barclays, Cognizant, Wipro, and TCS. Kharadi's organised office footprint already exceeds 11 million square feet, with approximately 11.66 million square feet of additional IT park space under development — a pipeline that sustains the professional rental and ownership demand underpinning the residential market.
Prestige's land position here is concrete. A subsidiary of the group acquired a 4.57-acre parcel in Kharadi in April 2024 for ₹200 crore — a transaction registered via demand draft and disclosed in public filings. That site is the basis for Prestige Kharadi, the group's residential debut in the city, offering 2, 3, and 4 BHK apartments. The project uses Mivan aluminium formwork construction — a method that produces smoother internal finishes and structurally denser slabs compared with conventional brick-and-mortar builds. Over 80 percent of the site area is left as open space, including landscaped gardens and dedicated pedestrian pathways. Smart home integration — controls for lighting, entry management, and security cameras operable via smartphone — is standard across configurations. The clubhouse includes a heated swimming pool, a professional gymnasium, tennis courts, and a badminton hall.
Location arithmetic works in the buyer's favour. Prestige Kharadi sits close to the Mundhwa-Kharadi Road, within a short drive of Radisson Blu Hotel and EON IT Park itself. Pune International Airport is roughly 15 minutes by road. Social infrastructure in the zone — Podar International School, The Orbis School, Manipal Hospital, EON Hospital, Phoenix Market City, and Inorbit Mall — is already established rather than promised.
Prestige Kharadi as a residential address is the public-facing headline, but the group's commercial track record in this pocket sets important context. Prestige Alphatech, a commercial development in the Kharadi micro-market spanning approximately 700,000 square feet across 17-storey towers, was operational by December 2023. The Prestige Exora Business Parks, a 4.57-acre commercial development also in Kharadi, further extends the group's Grade A office footprint in the area. For a buyer evaluating a developer's commitment to a location, this dual presence — active office tenants in the same geography — is a more reliable indicator than forward-looking statements alone.
Prestige buyers in Bengaluru have come to associate the brand with three things: construction to specification, possession on the committed date, and a product that holds rental value. The professional tenant base in Kharadi — tech workers on multi-year contracts, many relocating from other cities or from Bengaluru itself — sustains exactly the rental market that Prestige residential products have historically served. A modern 2 BHK in Kharadi currently fetches ₹35,000–₹45,000 per month in rent, with rental yields running at 4–6% annually, among the highest in Pune's residential micro-markets.
The group's national track record adds a layer of due-diligence comfort specific to MahaRERA's regime. Prestige Kharadi is registered with MahaRERA, placing it within Maharashtra's mandatory disclosure and escrow framework. For buyers who have followed the brand's delivery history in Bengaluru — projects such as Prestige Shantiniketan, Prestige Lakeside Habitat, and Prestige Falcon City — the combination of a known operator and a state-regulated structure reduces the information asymmetry that characterises newer or less-documented developers entering Pune.
Prestige's Pune entry fits a pattern visible elsewhere in its expansion: the group typically establishes a commercial office portfolio in a new city — building familiarity with the local bureaucracy, contractor ecosystem, and subsoil conditions — before launching residential product aimed at the same corporate professional demographic. This was the sequence in Hyderabad and, more recently, in Mumbai, where 2.5 million square feet launched between April 2022 and late 2023 saw 70 percent sold within 18 months, generating approximately ₹6,500 crore in topline revenue. Pune, with its structurally similar IT-driven demand, is the logical next city in that arc.
Across its national portfolio, Prestige operates in 13 cities with 56 ongoing projects covering 72 million square feet and 32 new launches planned for 2025 adding nearly 69 million square feet. The Kharadi residential project is one node in that grid — but for a Pune buyer, it represents something more specific: a developer with four decades of delivery history, a publicly listed balance sheet, and an existing physical presence in the same geography, bringing a product type to a market that has been waiting for it.
