Prestige Estates Projects has made a significant strategic move in the Chennai real estate market by acquiring 25 acres of prime land in Medavakkam. This acquisition represents a major expansion of the company's portfolio in Chennai and demonstrates its commitment to strengthening its presence in key South Indian markets.

Land Acquisition Details

The newly acquired property spans 25 acres in Medavakkam, a rapidly developing area in Chennai. This substantial land parcel provides Prestige Estates Projects with significant development opportunities and positions it well for future growth in the region.

Development Potential and Revenue Projections

The acquired land offers impressive development potential with approximately 5 million square feet of developable area. This substantial development capacity positions the project as one of the significant upcoming developments in Chennai's real estate landscape.

The estimated revenue potential from this project exceeds ₹5,000.00 crore, highlighting the scale and commercial viability of the proposed development. This revenue projection underscores the strategic value of the land acquisition and its potential contribution to the company's future financial performance.

Strategic Market Expansion

Medavakkam is a rapidly developing residential micro-market in Chennai, benefiting from proximity to the OMR IT corridor, improving road infrastructure, and upcoming metro connectivity. The area offers a balanced-mix of accessibility, affordability, and growing social infrastructure, supporting sustained residential demand.

The site is proposed to be developed into a large-format project in line with Prestige Group's focus on scale and planning efficiency. The project will be planned and executed in line with Prestige Group's established standards for design, quality, and timely delivery.

Management Commentary

Commenting on the acquisition, Mr. Irfan Razack, Chairman and Managing Director, Prestige Group, said: "This land acquisition in Medavakkam aligns with our long-term view on Chennai as an important market for the Group. The location is well suited to address the city's sustained mid-segment housing demand, supported by improving infrastructure and proximity to key employment hubs. This addition strengthens our development pipeline, positioning us well for the next phase of growth in Chennai."

Company Portfolio

Prestige Group is one of India's most respected and diversified real estate developers, with a legacy of almost four decades. The Group has delivered 310 projects spanning 202 million square feet and currently has a pipeline of 130 projects across 199 million square feet. The company's portfolio spans residential, commercial, retail, hospitality, and integrated townships across major cities.

Prestige Estates Projects has announced a strategic acquisition through its subsidiary units, which have purchased partnership stakes in Bharatnagar Buildcon LLP. The transaction was completed on December 10, 2025, resulting in the company gaining significant indirect ownership in the entity.

Acquisition Details

The partnership stake acquisition involved two subsidiary companies of Prestige Estates Projects. The following table summarizes the key aspects of this transaction:

The ownership structure shows Prestige Falcon Realty Private Limited, a wholly-owned subsidiary, holding 63.12% partnership interest, while Prestige Projects Private Limited, another subsidiary, holds 3.81% partnership interest in Bharatnagar Buildcon LLP.

Target Entity Profile

Bharatnagar Buildcon LLP, incorporated in 2011, operates in the construction and real estate development sector. The entity's financial performance over the past three years demonstrates its operational scale:

Strategic Implications

This acquisition represents a consolidation strategy for Prestige Estates Projects, allowing the company to strengthen its position in the real estate development sector. The substantial investment of ₹938.75 crores through capital and current account contributions indicates the company's commitment to expanding its operational footprint.

The transaction aligns with the company's growth strategy of building a diversified portfolio through selective acquisitions and partnerships. By securing majority control through its subsidiaries, Prestige Estates Projects can leverage its expertise while expanding into new development opportunities through established entities in the real estate sector.