Prestige Enters Gurugram With ₹4,200 Crore Sector 92 Land Deal

Prestige Estates Projects Ltd has made its long-awaited entry into Gurugram official. In a regulatory filing dated April 1, 2026, the Bengaluru-headquartered developer confirmed it has signed a Joint Development Agreement (JDA) for 17.212 acres of land in Sector 92, targeting an estimated revenue potential of ₹4,200 crore. The announcement puts to rest months of speculation about where Prestige's next major NCR project would land.

The deal structure is a JDA rather than an outright land purchase, meaning Prestige partners with the existing landowner instead of paying upfront for the plot. The landowner in this case is Sare Gurugram Private Limited, a joint venture between Eka, KGK and Dhoot groups, described in filings as a disclosed and registered partner. Notably, the company secured development rights to this parcel through an insolvency process, as the asset had previously undergone Corporate Insolvency Resolution proceedings — a detail that underscores Prestige's comfort with navigating complex, distressed real estate situations to land prime sites.

The planned development will offer approximately 3 million sq ft of saleable residential area, positioned as a premium community. Sector 92 sits on the southern edge of Gurugram, directly benefiting from its proximity to the Dwarka Expressway — one of NCR's most closely watched infrastructure corridors, which has been steadily pulling both end-user and investor attention over the past few years due to improving road connectivity and easier access to Gurugram's key business districts.

Irfan Razack, Chairman and Managing Director of Prestige Group, weighed in on the significance of the move, emphasizing steady demand in the region as a key factor behind the timing. The company has framed the acquisition as a calibrated, execution-led expansion rather than a speculative land grab, consistent with its stated strategy of entering NCR markets where infrastructure is strengthening and long-term demand fundamentals are intact.

This Sector 92 deal does not exist in isolation. It comes on the back of Prestige's broader NCR push, which reportedly includes a Ghaziabad township project valued at over ₹10,000 crore and follows a separate Chennai land parcel deal with roughly ₹5,000 crore in potential. The company has also been linked to a second Delhi-NCR project in Sector 109, Noida. Together, these moves signal that Prestige — historically strongest in South India — is aggressively building out its North India land bank at a pace that puts it in direct competition with established NCR players like DLF and Godrej Properties.

Financially, the timing lines up with a strong run for the company. Prestige reported record Q1 FY26 sales, and its most recent quarterly results showed a sharp jump in net profit, giving it the balance sheet flexibility to pursue large-ticket JDAs without straining its capital position. Market capitalization stood at roughly ₹50,964 crore in early April 2026, and analysts have largely maintained positive ratings on the stock following the announcement, even as the shares have seen volatility earlier in the year.

For homebuyers, it's important to separate confirmed facts from early speculation. As of now, there is no official word on apartment configurations, tower count, indicative pricing, or possession timelines — brokers and third-party listings circulating figures like ₹1.4 Cr onwards or ₹13,000 per sq ft should be treated as unverified until Prestige files for RERA registration and opens formal bookings. What is certain is the location, land size, JV partner, and GDV target. Any sales launch will require RERA registration before bookings can legally open, which offers a built-in layer of protection for early buyers once the project reaches that stage. For now, Sector 92 is a location worth watching closely rather than acting on prematurely.