Prestige Group, formally Prestige Estates Projects Limited, entered Mangalore's residential market as an extension of a portfolio built over nearly four decades. The company was founded in 1986 by Abdul Razack Sattar as an extension of his earlier retail business, formally entering real estate with an initial seed capital of just 40,000 rupees. Prestige Estates Projects Ltd has been listed on the BSE and NSE since 2010, bringing institutional-grade financial transparency to its operations. The group has developed residential colonies and commercial spaces in Bangalore, Chennai, Kochi, Calicut, Hyderabad, Mumbai, Mangalore, Goa and Delhi-NCR. In Derlakatte, that national footprint takes the shape of Prestige Palm Residences, a low-rise villa community rather than the high-rise towers the group is better known for in Bengaluru.
The address of Prestige Palm Residences is off the Mangaluru-Kochi National Highway, at Kotekar, Ullal, Derlakatte, Mangalore-575018. Spread across approximately 14.7 acres, it is positioned by the developer as a premium villa project on the Mangaluru-Kochi National Highway corridor. The development offers 101 villas designed for modern living. Configurations include 4 BHK villas of around 4,290 sq ft and 3 BHK villas ranging from roughly 2,809 to 3,453 sq ft. As of mid-2025 listings, prices for the project have been quoted in a range of roughly Rs 1.97 crore to Rs 3.01 crore. The project was launched in January 2019 and was set for completion by October 2023. It carries RERA registration number PRM/KA/RERA/1257/334/PR/190108/002286.
Specifications called out for the villas include imported marble flooring, vitrified tiles in bedrooms, anti-skid tiles in balconies, and granite kitchen counters. The complex also provides external amenities such as a swimming pool, kids' play area, rainwater harvesting, ample car parking, a meditation-yoga room and a sewage treatment plant. The masterplan includes a gym, a park, lap pools, gardens, a walking track and a pet zone, alongside a clubhouse with a library, cards room, party halls and a dance room. A children's play area is positioned as an exclusive offering for residents.
Palm Residences is one of a small set of Prestige addresses in Mangalore, and the only villa-format project among them. Prestige Valley Crest, a royal apartment project set on 4.75 acres, is located in Bejai, closer to the city centre. Prestige Westholme, an ultra-luxury apartment project on 0.50 acres in Kenjar, features 3 BHK apartments from 2,446 to 2,515 sq ft with prices starting around Rs 1.43 crore. Against these two apartment addresses, Palm Residences in Derlakatte is Prestige's low-density, land-intensive offering in the city, built around private villas rather than stacked units.
Derlakatte sits in a rapidly developing zone in South Mangalore. The area is home to major medical and educational institutions including Yenepoya Medical College, KS Hegde Hospital, and NITTE University, which makes it a draw for both end-users and investors. Residents get connectivity to Mangalore city centre, Kankanady, Mangalore International Airport, and the Mangalore-Bangalore highway. Deralakatte itself is considered one of the prime locations to buy a home in Mangalore, with seven residential projects recorded in the locality. For a villa buyer, this combination of an institutional cluster, highway frontage and proximity to the airport is what separates Derlakatte from purely residential suburbs elsewhere in the city.
Buyers evaluating a villa purchase in Derlakatte are ultimately evaluating the parent company's delivery record as much as the project itself. As of December 2025, Prestige Group had delivered 313 projects covering 206 million square feet, with a pipeline of 128 projects spanning 195 million square feet. The business is led by Chairman and Managing Director Irfan Razack, alongside Joint Managing Director Rezwan Razack and Whole-time Director Noaman Razack. That scale is built primarily on Bengaluru and other metro markets, which makes a coastal, highway-facing villa project such as Palm Residences a comparatively small but distinct entry in the group's broader development ledger.