Prestige Estates Buys 102 Acres in Q1, Plans ₹20,400 Cr Housing Push

Prestige Estates Projects Ltd has expanded its residential footprint, acquiring 102 acres of land across four major cities in the April–June quarter of FY26, with projects planned to generate an estimated gross development value (GDV) of ₹20,400 crore.

According to the company’s latest investor presentation, the Bengaluru-based real estate major secured parcels in Bengaluru, Hyderabad, Chennai, and Mumbai through outright purchases and joint development agreements.

In Hyderabad, Prestige acquired 28 acres in Tellapur and 37 acres in Pulimamidi. Bengaluru additions include 10 acres in Poojanahalli–Devanahalli, 7 acres in Kothanuru (KR Puram), and 10 acres in Ittangur (Sarjapura). In Chennai’s Velachery, the firm picked up 3.48 acres, while in Mumbai, it acquired 6.3 acres. The company did not disclose the acquisition cost.

The aggressive land buys come amid a broader expansion strategy to capture rising housing demand. Prestige’s residential portfolio is already one of the largest in the country, with over 300 completed projects and around 140 in the pipeline.

In terms of finances, the developer registered a consolidated net profit increase of 26% year on year, amounting to ₹292.5 crore in Q1 FY26, compared with ₹232.6 crore in the same period last year. The total income increased from ₹2,024.5 crore to ₹2,468.7 crore.

Sales bookings have catapulted more than four times to ₹12,126.4 crore in the quarter, buoyed by strong demand for the Ghaziabad housing project. Compared to the last fiscal year’s 19 percent decline in bookings to ₹17,023.1 crore as a result of deferred launches and approval delays.

The company has a very ambitious sales booking target of ₹27,000 crore for this fiscal year, factoring in good demand from most of the important urban markets.

Prestige’s latest performance is a reflection of the newly revived sentiments for the residential real estate market in India, where some of the developers are acquiring several prime land parcels aggressively for the benefit of urban housing demand. For Prestige Estates, this new asset acquisition cements the position of the company as one of the most active players in India’s property market.