Prestige Estates Acquires 102 Acres Across 4 Cities in Q1 FY26 for Rs 20,400 Cr GDV
Prestige Estates Projects Ltd has kicked off FY26 with a major land-banking push. According to the company's investor presentation, Prestige Estates acquired 102 acres of land in the April-June 2025 quarter through direct acquisitions and joint ventures with landowners in Bengaluru, Hyderabad, Chennai, and Mumbai, to build new housing projects expected to have a gross development value of Rs 20,400 crore.
Hyderabad received the largest share of this land banking exercise. The company acquired 28 acres in Tellapur and 37 acres in Pulimamidi. In Bengaluru, Prestige picked up 10 acres in Poojanahalli-Devanahalli, 7 acres in Kothanuru-KR Puram, and 10 acres in Ittangur-Sarjapura. Chennai and Mumbai saw smaller but strategic buys, with 3.48 acres acquired in Velachery, Chennai and 6.3 acres in Mumbai. Notably, the cost of these acquisitions was not disclosed.
This land-banking spree fits into a broader pattern for the Bengaluru-based developer. Looking to expand its residential real estate business, Prestige Estates has been acquiring land parcels outright and also partnering with landowners. The Tellapur parcel in Hyderabad has already moved from acquisition to launch — reports indicate Prestige has rolled out Prestige Golden Grove on this land, a project spanning roughly 28.6 acres with over 5,000 units and a revenue potential exceeding Rs 9,500 crore, with ticket sizes between Rs 1 crore and Rs 3 crore.
The land buys came alongside a strong operating quarter. In Q1 FY26, the company's net profit rose 26% to Rs 292.5 crore from Rs 232.6 crore last year, while total income grew 22% to Rs 2,468.7 crore. On the sales side, momentum was even sharper: Prestige Estates reported a four-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of FY26, mainly due to strong demand for its housing project in Ghaziabad, up from Rs 3,029.5 crore in the year-ago period.
This rebound followed a soft FY25. During the entire last fiscal year, Prestige Estates sales bookings declined 19 per cent to Rs 17,023.1 crore, reflecting the impact of deferred launches amid approval delays, and the company had given guidance of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year. Executive Director Zyad Noaman pointed to the turnaround, noting that Q1 had already seen a strong start with the launch of The Prestige City Indirapuram, a marquee township development in NCR with a GDV of Rs 9,000 crore, of which the company had already sold over Rs 6,500 crore. Chairman Irfan Razack struck a cautious tone on targets, telling analysts "the strategy is I would rather under-promise and over-deliver."
Scale remains the company's calling card. Prestige Group has delivered over 300 projects and has a pipeline of around 140 projects. The 102-acre haul strengthens that pipeline further, giving the developer fresh inventory in high-growth corridors — Devanahalli and Sarjapura in Bengaluru sit near the airport and IT hubs, while Tellapur and Pulimamidi in Hyderabad are within the city's western IT and financial districts.
The momentum has continued well beyond Q1. By Q3 FY26, Prestige Estates reported a 39 per cent increase in sales bookings to Rs 4,183.6 crore, taking pre-sales for the first nine months of the fiscal year to over Rs 22,327.3 crore. For the full year, Prestige Estates achieved record sales bookings of Rs 30,024 crore during FY26, up 76% from the preceding year.
For homebuyers, this land acquisition news is a signal of where Prestige's next wave of launches will land. Micro-markets like Tellapur, Devanahalli, Sarjapura, and Velachery are worth watching over the next 12-18 months as these parcels move from land bank to RERA-registered projects, typically following an 8-12 month runway from acquisition to launch.
