Prestige Estates Projects Limited has secured a strategic land parcel in Gurugram through a co-group partnership arrangement, marking another significant expansion in the National Capital Region (NCR). The acquisition demonstrates the company's continued focus on prime locations with strong infrastructure connectivity and growth potential.

Land Acquisition Details

The company has entered into a Joint Development Agreement (JDA) for the land parcel located in Sector 92, Gurugram. The acquisition represents a substantial addition to Prestige Group's NCR portfolio, positioning the developer to capitalize on the region's growing residential demand.

Strategic Location Advantages

The land parcel benefits from its strategic positioning in Sector 92, Gurugram, with close proximity to the Dwarka Expressway. This location offers several key advantages:

• Enhanced connectivity to key business districts
• Improving infrastructure in the surrounding area
• Growing residential demand in the micro-market
• Long-term development potential

The project is envisaged as a modern, thoughtfully planned residential community that aligns with Prestige Group's established focus on quality development and execution excellence.

Management Commentary

Mr. Irfan Razack, Chairman and Managing Director, Prestige Group, emphasized the strategic nature of this acquisition: "This addition in Gurugram aligns with our broader strategy of strengthening our presence across key markets such as the NCR. While the region continues to see steady demand, we remain measured in our approach, focusing on locations with improving infrastructure and long-term potential. As always, we remain focused on disciplined execution and timely delivery, which continues to be appreciated by our customers and partners."

Mr. Ajay Munot, Founder, Eka Life, representing the landowners M/s Sare Gurugram Private Limited (JV of Eka-KGK-Dhoot), shared his perspective on the partnership: "This strategic land parcel presents a compelling development opportunity, and we are excited about our partnership with Prestige Group. We are confident in their ability to execute, and their approach to planning and development aligns well with the potential of this location. We believe this project will contribute meaningfully to the micro-market and create long-term value for all stakeholders."

Company Portfolio Strength

Prestige Group maintains its position as one of India's most respected and diversified real estate developers, with a legacy spanning almost four decades. The company's portfolio encompasses residential, commercial, retail, hospitality, and integrated townships across major cities.

This Gurugram acquisition is expected to further enhance Prestige Group's residential portfolio in NCR and reflects the company's continued focus on expanding across key urban markets with a calibrated and execution-led approach.

Arihant Foundations & Housing Limited has filed a regulatory disclosure under Regulation 30 regarding its joint acquisition of a prime land parcel in Chennai with Prestige Group. The formal press release, dated March 26, 2026, confirms the acquisition of a 16.331 acre land parcel in Padi, Chennai, with an estimated gross development value of ₹5,000 crores.

Regulatory Filing Details

The disclosure was submitted to BSE Limited under scrip code 531381, with CEO Arun Rajan signing the regulatory communication. The filing includes the official press release detailing the joint venture structure and project specifications.

Joint Venture Structure

The land acquisition has been executed through Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations and Housing Ltd. This partnership combines Prestige Group's pan-India expertise with Arihant Group's deep local market knowledge in Chennai.

Strategic Location and Development Plans

The acquired land parcel is strategically positioned in Padi, close to Anna Nagar, one of Chennai's most sought-after residential micro-markets. The site benefits from well-established social infrastructure, strong connectivity networks, and proximity to Chennai's key commercial and social hubs. The development is planned as a premium residential project catering to Chennai's evolving residential preferences.

Management Commentary

Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, emphasized the company's Chennai market focus: "Chennai continues to be a key market for us, and we see strong long-term potential driven by its stable demand, improving infrastructure, and evolving residential preferences. We remain focused on expanding our presence in the city through well-located, high-quality developments that cater to the aspirations of homebuyers, while maintaining our emphasis on execution and timely delivery."

Mr. Kamal Lunawath, Managing Director of Arihant Group, highlighted the project's positioning: "Chennai's residential market has demonstrated consistent growth, supported by end-user demand and a well-established ecosystem. This project, given its scale and strategic location near Anna Nagar, is well-positioned to tap into this demand. We see strong potential for a premium development that aligns with the expectations of today's homebuyers in the city."

Company Track Records

Prestige Group brings nearly four decades of real estate development experience across multiple segments. As of December 2025, the Group has delivered 313 projects spanning 206 million square feet and maintains a pipeline of 128 projects across 195 million square feet.

Arihant Foundations and Housing Limited contributes over four decades of Chennai-focused experience with a delivery track record exceeding 25 million square feet. The company has established a reputation for high-quality residential and commercial projects emphasizing transparency, customer-centricity, and timely execution.