Prestige Group Bangalore Expansion News

PRESTIGE GROUP IS TIGHTENING ITS GRIP ON BENGALURU'S GROWTH CORRIDORS. In one of its most notable recent moves, the developer acquired a 30+ acre land parcel at KIADB Aerospace Park Phase 2 in Bengaluru, a move that highlights growing interest in North Bengaluru driven by infrastructure projects like STRR and proximity to the airport. The site is significant because it is strategically located near major upcoming developments, including Brigade Group's second World Trade Center (WTC) and the Satellite Town Ring Road (STRR), positioning Prestige for another large-format residential or mixed-use rollout in the corridor.

This follows an even larger East Bengaluru bet. Prestige Group acquired 21 acres of land in Whitefield, Bengaluru, for Rs 450 crore to develop a housing project, with the company stating the project is expected to generate revenue of Rs 4,500 crore over the next four years. In regulatory disclosures, the plot will accommodate about 1,800 apartments, spanning over 4 million square feet of area. Chairman and Managing Director Irfan Razack described the rationale directly: "The prime land in Whitefield, Bengaluru presents an excellent opportunity for us to expand our presence in a large IT corridor."

These acquisitions are part of a broader, city-spanning land-banking spree. In the April-June quarter alone, Prestige Estates acquired 102 acres in Bengaluru, Hyderabad, Chennai, and Mumbai for housing projects with an estimated revenue potential of ₹20,400 crore. Within Bengaluru specifically, the company acquired three land parcels -- 10 acres in Poojanahalli - Devanahalli, 7 acres in Kothanuru, KR Puram and 10 acres in Ittangur, Sarjapura. Notably, the presentation did not mention the cost of the land, though the scale signals continued confidence in these micro-markets.

The land-buying spree comes on the back of the company's strongest-ever financial year. FY26 marks the first time the company has crossed Rs 30,000 crore in annual pre-sales, reflecting the scale and depth of its operations across markets. Razack summed up the year: the company has closed FY26 on a strong note, with steady sales momentum through the last financial year and a good finish in the fourth quarter. "Demand across our key markets has remained encouraging, and our focus on quality, location, and timely execution continues to resonate well with customers," he said. Performance was broad-based, with healthy contributions from geographies including Bengaluru, NCR, Mumbai, Hyderabad, and Chennai.

Looking ahead, the group is not slowing down. Riding the record year, Prestige Estates Projects Ltd is targeting up to 20 per cent growth in pre-sales this fiscal to Rs 36,000 crore as it remains bullish on housing demand despite global uncertainties. Razack noted that the company would continue to invest on construction activities and also on land acquisition if there is a right opportunity, and remains bullish on office, shopping malls and hotel projects as well. The scale of the pipeline is substantial: the group has delivered 313 projects spanning 206 million square feet, and has a pipeline of 128 projects across 195 million square feet.

For Bengaluru homebuyers, this translates into a steady stream of new launches across corridors — from established growth belts like Whitefield and Sarjapur Road to emerging ones like Devanahalli and the KIADB Aerospace Park zone near the airport. New land parcels typically take 18-24 months to convert into RERA-approved launches, so buyers tracking these corridors should watch for approvals through 2027 as these freshly acquired plots move from land bank to sales counter. As always, construction cost pressures are a factor Razack has flagged, noting the company's construction cost has definitely gone up due to rise in prices of many key raw materials — a trend likely to keep new-launch pricing on an upward trajectory in these micro-markets.