“Prestige Group Expands Presence in Delhi-NCR with 62.5-Acre Ghaziabad Acquisition”
Real estate firm Prestige Estates Projects Ltd has announced its latest venture in Delhi-NCR with the acquisition of 62.5 acres of land in Indirapuram Extension, Ghaziabad. This strategic move marks Prestige Group’s expansion in the dynamic real estate market of NCR and is set to redefine modern living with a projected revenue potential of ₹10,000 crore.
Real estate firm Prestige Estates Projects Ltd has announced its latest venture in Delhi-NCR with the acquisition of 62.5 acres of land in Indirapuram Extension, Ghaziabad. This strategic move marks Prestige Group’s expansion in the dynamic real estate market of NCR and is set to redefine modern living with a projected revenue potential of ₹10,000 crore.
The newly acquired land will be developed into a large-scale township project spanning over 10 million square feet of saleable area. The project will primarily focus on residential developments, complemented by educational and retail facilities. Prestige Group plans to launch this ambitious project within the next two quarters and aims to complete the development in four years.
Named under the successful ‘The Prestige City’ format, this project will offer residents a comprehensive lifestyle experience within a large township. It will feature a seamless blend of residential spaces, retail outlets, educational institutions, and recreational areas, reflecting Prestige Group’s vision of creating integrated urban communities.
Irfan Razack, Chairman and Managing Director of Prestige Group, expressed excitement about the acquisition, stating that it presents an excellent opportunity for the group to strengthen its presence in the NCR region. He highlighted the success of ‘The Prestige City’ brand in Bengaluru, Mumbai, and Hyderabad, indicating the group’s commitment to delivering large-format integrated townships and developments.
Venkat K Narayana, Group CEO of Prestige Group, emphasized the project’s scale, with over 10 million square feet of saleable area and a projected Gross Development Value (GDV) exceeding ₹10,000 crore. He underlined the group’s commitment to diversifying its sales portfolio and expanding its footprint in key markets.
Prestige Group, with a legacy of over three decades in real estate development, has a diversified business model across various segments including residential, office, retail, hospitality, property management, and warehouses. The group’s operations span more than 12 major locations in India, with 300 completed projects covering a developable area of 188 million square feet.
Sources By Agencies
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