Prestige Acquires 102 Acres in Q1 FY26 for ₹20,400 Cr GDV Projects
Multi-City Land Banking in Q1 FY26
In the April–June 2025 quarter, Prestige Estates Projects Ltd acquired 102 acres of land to expand its residential pipeline across India's largest metropolitan markets. The projects developed on this land are expected to have a gross development value (GDV) of ₹20,400 crore, with the land purchased through direct acquisitions and joint ventures with landowners in Bengaluru, Hyderabad, Chennai, and Mumbai.
Location-Wise Breakdown
The acquisition reflects a strategic focus on established growth corridors within each city. In Hyderabad, Prestige secured 28 acres in Tellapur and 37 acres in Pulimamidi. Tellapur and Pulimamidi are two high-growth micro-markets within the city's IT and finance corridors.
Bengaluru saw three separate acquisitions: 10 acres in Poojanahalli–Devanahalli, 7 acres in Kothanuru–KR Puram, and 10 acres in Ittangur–Sarjapura. These locations span the city's expanding eastern and southeastern growth zones.
Chennai saw a 3.48-acre acquisition in Velachery, while Mumbai received a 6.3-acre parcel.
Strategic Intent and Market Context
Prestige Estates is expanding its residential real estate business through both direct land acquisitions and partnerships with landowners. The timing aligns with strong sector momentum: the company clocked ₹5,519 crore in sales bookings in Q1 and targets ₹27,000 crore for FY26.
In Q1 FY26, the company's consolidated net profit rose 26 percent to ₹292.5 crore from ₹232.6 crore in the year-ago quarter, while total income grew 22 percent to ₹2,468.7 crore.
About Prestige Group
Prestige Group is headquartered in Bengaluru and was founded in 1986, and is now led by Irfan Razack (Chairman and Managing Director), Rezwan Razack, and Noaman Razack. The company specializes in developing premium residential apartments, villas, commercial offices, retail malls, hospitality properties, and leisure projects across major cities including Bengaluru, Chennai, Hyderabad, Mumbai, Kochi, Mangalore, Goa, and emerging markets like Delhi-NCR.
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.
The company has delivered over 300 projects and currently has around 140 projects in its pipeline.
Land Cost and Acquisition Details
The cost of these acquisitions was not disclosed. The parcels represent part of Prestige's ongoing effort to secure prime locations ahead of anticipated residential demand recovery in major metros.