Realty agency Prestige Estates Projects Ltd has acquired 102 acres of land in the April-June quarter to build housing tasks, with a possible to generate income of greater than ₹20,000 crore.
Looking to broaden its residential actual property enterprise, Bengaluru-based Prestige Estates Projects has been buying land parcels outright and likewise partnering with landowners.
According to its newest investor presentation, the corporate acquired a complete of 102 acres of land in Bengaluru, Hyderabad, Chennai and Mumbai in the primary quarter of this fiscal 12 months.
These land parcels shall be used to develop residential tasks, which might have an estimated gross growth worth (GDV) of Rs 20,400 crore.
According to the presentation, Prestige Estates in Hyderabad acquired two plots — 28 acres in Tellapur and 37 acres in Pulimamidi.
In Bengaluru, the corporate has acquired three land parcels — 10 acres in Poojanahalli – Devanahalli, 7 acres in Kothanuru, KR Puram and 10 acres in Ittangur, Sarjapura.
At Velachery in Chennai, the corporate acquired 3.48 acres.
Prestige acquired 6.3 acres of land in Mumbai.
The presentation didn’t point out the price of the land.
On monetary efficiency, the corporate just lately reported a 26% improve in its consolidated internet revenue to ₹292.5 crore throughout the first quarter of this fiscal.
Its internet revenue stood at ₹232.6 crore in the year-ago interval.
The whole earnings rose to ₹2,468.7 crore throughout the April-June interval of this fiscal from ₹2,024.5 crore in the corresponding interval of the previous 12 months.
Last month, Prestige Estates Projects Ltd reported a four-fold soar in its gross sales bookings to ₹12,126.4 crore in the primary quarter of FY26, primarily due to robust demand for its housing mission in Ghaziabad.
The firm’s gross sales bookings or pre-sales stood at ₹3,029.5 crore in the year-ago interval.
During the whole final fiscal 12 months, Prestige Estates gross sales bookings declined 19% to ₹17,023.1 crore, “reflecting the impact of deferred launches amid approval delays”.
The firm has given steerage of reaching ₹27,000 crore worth of gross sales bookings throughout the present fiscal 12 months.
Prestige Group has delivered over 300 tasks and has a pipeline of round 140 tasks.
