Looking to expand its residential real estate business, the Bengaluru-based realty firm, Prestige Estates Projects Limited, has focused on acquiring land parcels in the first quarter of this fiscal year, as well as partnering with landowners.
According to its latest investor presentation, the company acquired a total of 102 acres of land in Bengaluru, Hyderabad, Chennai and Mumbai, where it plans to build housing projects with a potential to generate estimated gross development value (GDV) of ₹20,400 crore.
In Hyderabad, the firm acquired two plots; one of 28 acres in Tellapur and another of 37 acres in Pulimamidi.
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In Bengaluru, the company has acquired three land parcels – 10 acres in Poojanahalli, Devanahalli; 7 acres in Kothanuru, KR Puram; and 10 acres in Ittangur, Sarjapura.
At Velachery in Chennai, the company acquired 3.48 acres, while in Mumbai, it acquired 6.3 acres of land.
Last month, the realty firm had reported a four-fold jump in its sales bookings to ₹12,126.4 crore in the first quarter of FY26, mainly due to strong demand for its housing project in Ghaziabad.
It also recently reported a 26 per cent increase in its consolidated net profit to ₹292.5 crore during the first quarter of this fiscal, as compared with a net profit of ₹232.6 crore in the year-ago period.
Additionally, its total income rose to ₹2,468.7 crore during the April-June period of this fiscal from ₹2,024.5 crore in the corresponding period of the preceding year.
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