Prestige Estates Incorporates Two New Wholly-Owned Subsidiaries — Southgrove Homes LLP and Parkgrove Realty LLP

Prestige Estates Establishes Two New Development Subsidiaries

Prestige Estates Projects Limited announced on September 9, 2026, the incorporation of two wholly-owned subsidiaries: Southgrove Homes LLP and Parkgrove Realty LLP, filed as Limited Liability Partnerships under Indian law.

Subsidiary Structure and Capital

The company has contributed INR 1,00,000 toward 100% of the partnership interest in each LLP. Both entities were incorporated to carry on the business of real estate development. Southgrove Homes LLP is yet to commence its business operations, and both subsidiaries remain in their pre-operational phase.

Strategic Context

The incorporation aligns with Prestige Estates' broader expansion strategy. The company achieved record FY26 sales bookings of ₹30,024 crore—the highest in its history. In the April-June quarter of fiscal 2026, the developer acquired 102 acres across Bengaluru, Hyderabad, Chennai, and Mumbai, with development potential estimated at gross development value of Rs 20,400 crore.

About Prestige Group

Prestige Group, founded in 1986 in Bangalore, has developed over 300 projects across residential, commercial, retail, and hospitality segments with 38 years of experience. The company holds the CRISIL DA1+ rating, the only Indian real estate developer with this distinction, reaffirmed in March 2026. The developer operates in 10 Indian cities including Bengaluru, Chennai, Hyderabad, Kochi, Mangaluru, Mumbai, Goa, and Pune.