Pune: Prestige's Newest Growth Market
Pune has become one of Prestige Group's key expansion markets outside its home base of Bengaluru. Prestige Group has emerged as a significant and pioneering force in the Pune real estate market, particularly through its focus on lifestyle-centric and innovative residential projects, especially in high-growth corridors like Wakad, Hinjawadi, Chinchwad, and Ravet. The developer has moved beyond a single project approach, building a diversified footprint across residential, commercial, and business park formats in the city.
Kharadi has emerged as a major focus area for the group. The Prestige Group has made a significant move in Pune's real estate market by acquiring a 4.57-acre parcel of land in the Kharadi area for ₹200.20 crore. Kharadi, located in Pune, is rapidly evolving into a prominent IT and residential hub. This acquisition, executed through Prestige Exora Business Parks, signals the group's intent to build large-format commercial and mixed-use assets alongside residential offerings in the city.
Beyond Kharadi, Prestige's presence extends to other established micro-markets. Places like Magarpatta and Kharadi, Aundh, Hinjewadi are the most important communities in Pune. The city of Pune is currently developing into an IT and integration hub with countless job offers. This IT-led economy has fuelled consistent demand for quality housing near employment hubs, which is exactly the segment Prestige is targeting with its Pune portfolio.
Industry reports indicate the scale of ambition behind this expansion. The Prestige Group wants to develop 1 million square foot residential apartments in Pune, an enterprise that might earn Rs 750–Rs 1,000 crore. Focusing on the IT and tech demographic in Pune reflects a keen understanding of the local market. As a result, Pune now sits alongside Bengaluru, Hyderabad, Chennai, Mumbai and Kochi as one of the core cities in Prestige's national growth map.
