Nomura Names Prestige Estates Top Sector Pick, Forecasts ₹5,000 Crore GDV in Q2 FY27 Launches Across Bengaluru and Chennai
Nomura Names Prestige Estates Top Sector Pick on Strong Q2 Launch Pipeline
In its September 1, 2026 report, Nomura identified Prestige Estates as its top sector pick among the real estate companies covered in its assessment. The brokerage's recommendation reflects confidence in the developer's execution capabilities and the depth of its upcoming project pipeline.
Q2 FY27 Launch Projection
Nomura expects Prestige Estates to launch projects with an aggregate GDV of approximately ₹5,000 crore during Q2 FY27. The highlighted pipeline includes multiple projects in Bengaluru as well as Palm Court in Chennai. Palm Court has already received the necessary RERA approval and has been launched, while regulatory approval was still pending for the other four projects at the time of Nomura's assessment.
Strategic Focus on Bengaluru
A large part of Prestige Estates' upcoming pipeline is concentrated in Bengaluru. The city remains one of India's major residential and commercial property markets, with employment opportunities, technology-sector activity, infrastructure development and urban expansion supporting long-term housing demand, giving the developer an opportunity to deepen its presence while adding fresh inventory.
Developer Background
Prestige Group, founded in 1986 in Bangalore, has delivered 300+ projects across 13 Indian cities spanning residential, commercial, retail and hospitality, with developments in Bangalore, Chennai, Kochi, Calicut, Hyderabad, Mumbai, Mangalore, Goa and Delhi-NCR. As of March 2025, the group had delivered 302 projects spanning 193 million square feet, with 63 ongoing projects covering 115 million square feet, 67 planned projects across 88 million square feet, and a 689 acre land bank.
The company is listed on the BSE and NSE as Prestige Estates Projects Limited and operates from Prestige Falcon Tower on Brunton Road, Bengaluru.
Wider Market Context
According to Nomura's latest assessment, the sector has remained relatively resilient during the opening months of the second quarter of FY27, while sales of existing inventory have broadly stayed aligned with developers' plans. The growing launch pipeline is particularly important for listed real estate companies because new projects can provide fresh inventory, improve pre-sales visibility and support revenue growth over the coming quarters.