Prestige Estates Eyes Rs 12,000 Crore Revenue From Indirapuram Extension Township, Marks NCR Debut
Prestige Estates Projects Ltd has set an ambitious revenue target for its first major residential venture in the National Capital Region. The Bengaluru-headquartered developer is targeting Rs 12,000 crore in revenue from a 62.5-acre township at Indirapuram Extension, Ghaziabad, formally announcing its entry into the Delhi-NCR residential market. Prestige Estates is already developing a commercial project at Delhi's Aerocity, making this residential launch a natural extension of the group's northern expansion.
The development, named The Prestige City, Indirapuram, was unveiled through a regulatory filing in which the company announced its entry into the National Capital Region residential market with the launch of the first phase of the project. With all approvals secured, the group has begun marketing the first phase of this township project named 'Oakwood and Mulberry' which together represent a Gross Development Value of over Rs 9,000 crore. When the second phase, Mayflower, is launched, it will take the total GDV of the entire residential development to Rs 12,000 crore.
The scale of the first phase alone is significant: it will have 3,421 homes across 19 towers, with unit sizes ranging from 1,681 sq ft to 6,026 sq ft. The township is spread across 62.5-acre in Indirapuram Extension on National Highway 24, placing it within easy reach of Delhi, Noida, and the Delhi-Meerut Expressway corridor. The project traces back to March 2024, when Prestige Estates first acquired the land at a cost of Rs 468 crore, along with a revenue share with the landlord, with saleable area of 10 million sq ft earmarked primarily for residential use, complemented by education and retail components.
Irfan Razack, Chairman and Managing Director of Prestige Group, called the launch a landmark moment for the company, stating, "Today marks a monumental chapter for Prestige Group. We are thrilled to make our debut in the vibrant NCR residential market with The Prestige City, Indirapuram. This project embodies the scale, ambition, and integrated lifestyle that Prestige stands for." The township will also feature substantial retail and leisure infrastructure, including two grand clubhouses spread over 100,000 sq. ft., and an integrated Forum Mall covering 1.18 million sq. ft. of retail and entertainment experiences.
Market response to the launch has been strong. According to reports, the company said it has sold 1200 units worth Rs 3000 crore within seven days out of the 3421 units launched in the first phase. This rapid absorption reflects broader momentum in the Ghaziabad residential market, where new supply rose by 212% to 7012 units in Ghaziabad in 2024 as compared to 2244 units in 2023, while sales rose 11% to 5860 units in the same period.
The Ghaziabad launch comes at a pivotal time for Prestige Estates. The company's sales bookings declined 19 per cent to Rs 17,023 crore in the last fiscal, a dip the group attributed to delays in project approvals. Razack has indicated that FY26 is set to be a defining year for Prestige Group as we expand into newer markets, launching marquee projects in NCR and Mumbai and achieving our maiden residential completions in Mumbai. The Indirapuram Extension township, therefore, is being viewed both as a growth driver and a proof point for Prestige's ability to replicate its southern and western India success in the historically dominant NCR market, long led by players such as DLF, Godrej Properties, and local Ghaziabad-Noida developers.
For homebuyers, the project signals the arrival of a nationally recognised, quality-focused developer in a corridor that has seen mixed execution track records among regional builders. With connectivity via NH-24, proximity to the Delhi-Meerut Expressway, and a masterplan that folds in retail, schooling, and clubhouse infrastructure, The Prestige City, Indirapuram is positioned as a long-term township play rather than a standalone residential tower — a format Prestige has used to strong effect in Bengaluru, Hyderabad, and Mumbai.
