Prestige Estates Projects has launched Prestige Palm Court in Madhavaram, North Chennai, with an estimated gross development value (GDV) of ₹1,330 crore.

Project highlights

The residential development spans approximately 1.38 million square feet of saleable space across 7.98 acres on the Grand Northern Trunk Road (GNT). The project marks the company's entry into the Madhavaram micro-market.

The development comprises five towers with ground plus 22 floors and two basements, offering 910 premium apartments. Unit configurations range from one to three bedrooms, with saleable areas starting from 641 square feet up to 1,827 square feet.

Expansion plans

This launch is part of Prestige Group's broader expansion strategy in the Chennai region. The developer intends to launch three to four additional residential developments in the area during this financial year.

As of June 2026, Prestige Group has delivered 319 projects spanning 216.37 million square feet. It currently maintains a pipeline of 139 projects across 247.16 million square feet.

Prestige Estates Projects confirmed that all seven resolutions tabled at its 29th Annual General Meeting (AGM) on August 20, 2026, were passed by shareholders. The approvals include the declaration of a ₹2 per share final dividend for FY26 and the issuance of Non-Convertible Debentures (NCDs) via private placement.

The company disclosed the voting results and the scrutinizer’s report dated August 21, 2026. Nagendra D. Rao served as the scrutinizer for the e-voting and poll processes. The total number of shareholders as on the cut-off date of August 13, 2026, was 1,80,051.

Voting Results Overview

The promoter group held 262,500,000 shares, representing approximately 60.9% of the total outstanding shares of 430,730,232. Promoters voted in favour of all resolutions via e-voting with 100% support. Public institutional investors held 158,934,236 shares, while public non-institutional investors held 9,295,996 shares.

Key Resolutions Passed

Detailed Voting Breakdown

For the resolution to declare the final dividend of ₹2 per fully paid equity share, 39,63,06,048 votes were cast in favour, while only 130 votes were cast against. This represents a 99.99% approval rate among polled votes.

The special resolution to approve the re-designation of Ms. Uzma Irfan as Whole Time Director received 39,39,25,524 votes in favour (99.41%), with 23,56,429 votes against (0.59%). The re-appointment of Ms. Uzma Irfan as Director saw slightly higher opposition, with 34,42,716 votes against (0.87%), though it still passed comfortably with 99.13% support.

The issuance of NCDs through private placement, a special resolution, garnered near-unanimous support with 99.99% of votes in favour (39,63,04,791 votes) against just 512 votes against.

Board and Management Presence

The following directors attended the meeting:

Chief Financial Officer Amit Mor and Company Secretary Manoj Krishna J V were also in attendance. Statutory Auditors S.R. Batliboi & Associates LLP and Secretarial Auditor Nagendra D. Rao represented their respective firms.