Prestige Group is an Indian real estate development company headquartered in Bengaluru, with projects across Bangalore, Chennai, Kochi, Hyderabad, Mumbai, and beyond. The group's first project, Prestige Court, came up at KH Road in Bangalore in 1985, and in the four decades since, it has built one of India's most diversified real estate portfolios. With 302 completed projects delivering 193 million square feet of developed area as of September 2024, Prestige Group has established itself as one of South India's premier real estate firms, earning the distinction of being the only developer with a CRISIL DA1+ rating for construction and development capabilities.
Pune, and specifically Kharadi, represents one of the group's most deliberate expansions outside its South Indian strongholds. FY26 sales bookings of ₹30,024 crore — up 76% year-on-year — are the highest in the company's history and rank among the highest annual sales by any Indian real-estate developer to date. That financial scale underpins the confidence with which Prestige has moved into Pune's competitive eastern micro-market.
Prestige Exora Business Parks, a subsidiary of Bengaluru-based Prestige Estates, acquired a 4.57-acre land parcel in Pune's tech hub of Kharadi for ₹200 crore, according to property registration documents accessed by CRE Matrix. Pune-based BU Bhandari M&M Realtors LLP sold the land parcel on April 16, 2024. The stamp duty paid was over ₹14 crore, and the purchaser paid ₹198 crore to the seller using a demand draft on April 20, 2024. For a single land parcel in an eastern Pune suburb, this was a statement transaction — one that placed Kharadi firmly on Prestige's active development map rather than its watchlist.
The development of Prestige Kharadi follows a strategic joint development agreement (JDA) with B U Bhandari M&M Realtors, with full development rights transferred to Prestige Exora Business Parks in March 2024. The vehicle of choice — Prestige Exora Business Parks — is the same subsidiary the group uses for its commercial office park developments, signalling that Prestige Kharadi is conceived as a Grade-A business park rather than a speculative mixed-use play.
The project spans over 4.5 acres, providing a generous space for a range of commercial activities. This extensive land area allows for flexible development options and ample room for future expansions, catering to a diverse range of business needs. The project is designed to provide a modern, flexible workspace with advanced infrastructure, including high-speed elevators, state-of-the-art HVAC systems, and robust security measures. Modern amenities include customisable office layouts, ample parking, and eco-friendly design elements to enhance sustainability.
Planned with a modern vision, the project will offer premium office spaces and retail shops designed for companies, startups, and brands looking for a prime business address. The developer has shared an expected possession year of 2030, giving buyers and investors clarity for planning.
Prestige's approach in Kharadi mirrors what the group has already delivered elsewhere in its commercial portfolio. Beyond residential, Prestige operates a substantial commercial, retail and hospitality portfolio including the UB City premium retail destination in Bengaluru, the Forum mall chain (13 completed malls totalling 10 million sq ft), and IT-park developments leased to Fortune 500 occupiers. Prestige Kharadi draws on that institutional-grade commercial development experience.
Prestige Kharadi does not arrive in a vacuum. The group already has an operational commercial presence on Mundhwa-Kharadi Road in the form of Prestige AlphaTech. Prestige AlphaTech, a flagship business campus, rises beside the Radisson Blu Hotel on Mundhwa-Kharadi Road. The tower stacks ground plus thirteen floors above three basements and totals about 700,000 square feet on 50,000-square-foot plates. Shell-and-core space was delivered on 1 December 2023. By 2026, major global companies such as BNY Mellon have already moved in.
Double-glazed façades, VAV air-conditioning, and rooftop solar help cut yearly energy use by 29 per cent. Low-flow fixtures, on-site treatment and reuse halve fresh-water demand. AlphaTech's LEED Platinum credentials and tenant roster establish what Prestige delivers at the top end of Kharadi's commercial market — and set the benchmark against which Prestige Kharadi will be measured.
Kharadi is a suburb located in the Eastern Metropolitan Corridor of Pune, on the banks of the Mula-Mutha river, and serves as a hub for information technology and business parks. Originally a village, the IT boom beginning in roughly 2005 established major multinational corporations in the area. The transformation since then has been structural rather than cyclical.
EON IT Park Kharadi is the gravitational centre of Pune's eastern IT story — 6.2 million sq ft, 40-plus tenants, and the reason Kharadi exists in its current form. Companies that have offices in Kharadi include Vodafone, Barclays, TATA, Credit Suisse, UBS, Symantec, Citigroup, Seagate Technology, Mphasis, Veritas Technologies, Zensar, Allianz, and Northern Trust. The World Trade Center Pune, India's fourth operational World Trade Center, is located at Kharadi, the heart of Pune's Eastern IT Corridor, and is a definitive address for international businesses.
Kharadi has grown into Pune's premier IT hub with over 11 million sq ft of office space. New IT parks under development will add approximately 11.66 million sq ft more, potentially doubling its capacity and attracting tens of thousands more professionals. For Prestige, a developer that has consistently positioned commercial assets adjacent to high-employment clusters — as it did with Prestige Tech Park in Bengaluru's Outer Ring Road belt — Kharadi's demand profile is a familiar playbook applied to a new city.
Numerous Indian and international tech firms have established a presence in Kharadi's commercial spaces over the past decade. Recently, even manufacturing and financial companies have started setting up their global centres there. This broadening of Kharadi's tenant base — beyond pure-play IT to BFSI and GCCs — expands the pool of potential occupiers for a project like Prestige Kharadi.
Kharadi is approximately 15 minutes from Pune Airport by car. Pune International Airport is roughly 8.5 km away, reachable in 15–20 minutes by road on a normal day. Pune Railway Station is approximately 11 km away, a 30–40 minute drive through Yerawada. Nagar Road, which connects the locality westward to the city centre and eastward toward Ahmednagar, is the primary arterial route.
Metro connectivity to Kharadi is advancing at the policy level. Pune Metro Line 4, part of the city's Comprehensive Mobility Plan, will connect Kharadi Bypass to Khadakwasla and integrate with operational and sanctioned corridors at Kharadi Bypass and Nal Stop. Pre-construction activities such as topographical surveys and detailed design consultancy are already underway. In the interim, Maha Metro, in collaboration with PMPML, has launched a feeder bus service from Ramwadi Metro Station to World Trade Centre, Gera Commerzone Junction, and EON IT Park in Kharadi.
A Grade-A commercial campus draws quality occupiers partly because the surrounding residential market can house their senior talent. Kharadi delivers on this front. Over the past few years, Kharadi has seen steady price appreciation. The average property rate now ranges between ₹8,000–₹12,700 per sq ft, depending on the project, location, and amenities offered. A modern 2 BHK flat in Kharadi typically rents for ₹35,000–₹45,000 per month, depending on the project's location, amenities, and furnishing.
Residential prices in desirable neighbourhoods like Kharadi are predicted to increase by 8–10% a year. Rentals grew steadily by 1–2% quarter-on-quarter and 3–5% year-on-year, supported by robust IT/ITeS demand across Kharadi and Nagar Road. Despite rising prices slowing overall sales, the luxury segment continues to thrive, particularly in Kharadi. Homes priced around ₹3–4 crore and above remain in high demand, attracting HNIs and affluent investors.
Rental yields are expected to remain strong — between 3.5% and 6% — especially in IT-driven hubs like Kharadi, as demand from working professionals continues. Commercial premises in Kharadi offer 6–9% rental rates, making them a profitable investment option. These yield metrics align with the kind of commercial asset Prestige is building on the 4.57-acre site.
The density of social amenities in and around Kharadi is one reason senior professionals choose to live as well as work in the locality. Manipal Hospital is 2.2 kilometres away from the Mundhwa-Kharadi Road corridor, and Phoenix Market City is 4 kilometres away. Kharadi has been the venue for multiple music festivals including VH1 Supersonic, featuring international artists, and the NH7 Weekender. The combination of healthcare access, retail infrastructure, and a cosmopolitan social calendar supports the live-work proposition that occupiers of a Prestige address increasingly expect.
Kharadi is the anchor, but Prestige has signalled that its Maharashtra ambitions extend further. The builder has also entered other cities in Maharashtra, such as Mumbai, in the past year, and has shared plans to build a housing project of over 1 million square feet in Pune. In August 2025, the group signed a ₹12,500 crore MoU with the Maharashtra government to develop a data centre campus in Navi Mumbai, further strengthening its pan-India presence.
Over the past four decades, Prestige Group has diversified into multiple real estate verticals, including residential, commercial, retail, hospitality, and warehousing. In FY26, total sales were ₹30,024.5 crore, up 76% year-on-year. That financial position gives the group the runway to execute capital-intensive commercial developments like Prestige Kharadi through to their 2030 delivery horizon without the funding constraints that affect smaller regional developers.
For buyers and businesses evaluating a long-term commercial presence in Pune's eastern corridor, the Prestige name carries specific weight: Prestige is the only Indian real-estate developer to hold a CRISIL DA1+ rating, reaffirmed as recently as March 2026. That grading reflects construction capability and financial discipline — the two variables that matter most when committing to an office lease or commercial unit purchase years before possession.
