Prestige Group Acquires 102 Acres of Land for Rs 20,000 Crore Housing Projects

Prestige Estates Projects has acquired 102 acres of land in Q1 to build housing projects worth over Rs 20,000 crore. The company has land parcels in Bengaluru, Hyderabad, Chennai, and Mumbai, with a potential revenue of Rs 20,400 crore. Prestige Estates reported a 26% increase in net profit to Rs 292.5 crore in Q1 and a four-fold jump in sales bookings to Rs 12,126.4 crore due to strong demand for its housing project in Ghaziabad.

Prestige Estates Projects Ltd. has significantly expanded its residential portfolio by acquiring 102 acres of land across key cities like Bengaluru, Hyderabad, Chennai, and Mumbai. The company aims to develop housing projects with a potential gross development value (GDV) exceeding Rs 20,400 crore [1].

The acquisitions, made during the April-June quarter, include 28 acres in Tellapur and 37 acres in Pulimamidi in Hyderabad, 10 acres in Poojanahalli - Devanahalli, 7 acres in Kothanuru, KR Puram, and 10 acres in Ittangur, Sarjapura in Bengaluru, 3.48 acres in Velachery, Chennai, and 6.3 acres in Mumbai [1].

On the financial front, Prestige Estates reported a 26% increase in its consolidated net profit to Rs 292.5 crore during the first quarter of this fiscal year, compared to Rs 232.6 crore in the year-ago period. The company also witnessed a four-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of FY26, primarily driven by strong demand for its housing project in Ghaziabad [1, 3].

Prestige Estates has given guidance of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year. The company has delivered over 300 projects and has a pipeline of around 140 projects, indicating its robust growth trajectory [1].

References:
[1] https://m.economictimes.com/industry/services/property-/-cstruction/prestige-group-acquires-102-acres-of-land-in-q1-to-build-homes-worth-rs-20000-cr/articleshow/123203876.cms
[2] https://economictimes.indiatimes.com/industry/services/property-/-cstruction/prestige-group-acquires-102-acres-of-land-in-q1-to-build-homes-worth-rs-20000-cr/articleshow/123203876.cms
[3] https://ca.finance.yahoo.com/news/prestige-estates-projects-ltd-bom-110039667.html
[4] https://www.business-standard.com/companies/quarterly-results/prestige-estates-q1fy26-profit-rises-revenue-up-expansion-plans-125080501945_1.html