Prestige Estates Acquires Land in Indavara, Chikkamagaluru Marking Entry into Hill Station Leisure Market
Prestige Enters Karnataka's Hill Station Leisure Market
Prestige Estates Projects Limited added four land parcels during the third quarter of FY26, with an estimated revenue potential of ₹68,500 crore, according to its latest investor presentation for Q3 and nine months ended December 2025. The newly added land parcels are located across Hyderabad, Chennai, Bengaluru and Chikkamagaluru, expanding Prestige Estates' presence in both established urban centres and emerging growth corridors. The additions include parcels in Lakdaram and Rajendra Nagar in Hyderabad, Medavakkam in Chennai, and Indavara in Chikkamagaluru, cumulatively covering 85 acres during the quarter.
The Chikkamagaluru acquisition marks a strategic pivot for the developer into Karnataka's hill station leisure segment—a market category that has historically remained outside Prestige's core urban residential focus. Located to the south-west of Karnataka, Chikkamagaluru has access to a large area covered by dense forests and hills also called the Malnad region. This makes Chikkamagaluru a favorite tourist destination for travelers.
Scope of the Q3 FY26 Expansion
These acquisitions contribute to Prestige's total land additions of 351 acres in the first nine months of FY26, with an overall estimated revenue potential of ₹3.99 lakh crore. The company's land bank now spans 1,080 acres, with a Prestige economic share of 883 acres, providing development visibility across multiple cities. Bengaluru continues to account for a significant portion of the land holdings, followed by Hyderabad, Chennai, Mumbai, Goa and NCR markets.
The Q3 acquisition is part of a broader consolidation of Prestige's geographic reach. In recent months, the developer has moved aggressively into new corridors: They just bought 16.38 acres of land in Padi, Chennai, for ₹561 Crore to build a new township. They also added another 25 acres in Medavakkam for future projects.
The Chikkamagaluru Opportunity
Chikkamagaluru, often referred to as Chikmagalur, is a beautiful hill station located in the Western Ghats of Karnataka, India. Known for its lush coffee plantations, scenic landscapes, and pleasant climate, it's a popular destination for both tourists and nature enthusiasts.
The region's appeal to developers lies in multiple factors. Holiday homes or second homes in Chikmagalur are the best asset to own for people residing in major cities of Karnataka. One of the nearest hill station to Mangalore and Bangalore, it is the apt retreat for the urban dwellers reeling under sweltering heat to take cover in the coffee plantations. Accessibility has improved: The road network of Chikkamaglur is well connected to the important neighboring cities like Bangalore, Hassan, Mangalore, and Mysore in the state. The KSRTC (Karnataka State Road Transport Corporation) buses ply from Chikkamaglur to Bangalore very frequently.
Prestige's Scale and Track Record
Prestige Group, legally Prestige Estates Projects Limited, was founded by Razack Sattar in 1986 and has grown into one of India's largest and most respected listed real-estate developers. Headquartered in Bengaluru and listed on both the BSE and NSE, the group operates across more than ten Indian cities - Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Goa, Kochi, NCR, Calicut, Mangalore, and Mysuru - with a delivered footprint of more than 150 completed projects and an ongoing pipeline that is among the largest in Indian real estate.
In a regulatory filing late Wednesday, the Bengaluru-based company informed that the company's sales bookings or pre-sales jumped over two times to Rs 22,327.3 crore during the first nine months of this fiscal year. According to its latest operational update, the company's pre-sales or sales bookings stood at a record Rs 30,024 crore in the 2025-26 fiscal, up 76 per cent from the preceding year.
Development Timeline
The company noted that development timelines and project configurations will be finalised post statutory approvals and detailed planning. Based on the developer's typical execution cadence in similar markets, RERA filings and project announcements for the Indavara parcel may be expected in the coming quarters, with pre-launch activity following thereafter.
For prospective buyers and investors tracking Prestige's new market entries, the Chikkamagaluru acquisition signals the developer's confidence in the hill station leisure segment as a distinct revenue stream beyond its traditional urban residential core.