Prestige Group Commercial Segment 2024 Update

Prestige Group, Bangalore, is a property development firm in South India that has built more than 120 commercial projects across 12+ major cities in India. Prestige Tech Park IV in Bangalore, Prestige Skytech in Hyderabad, Prestige Metropolitan in Chennai, and Prestige Cyber Greens in Cochin are their notable projects.

As of FY23, the firm has completed 281 projects across 3833 acres and has gained a turnover of INR 87,720 Million. Prestige Group owner family, Mr. Irfan Razack, leads the firm along with his brothers, Mr. Rezwan Razack and Noaman Razack. The firm portfolio is vast, and it works on projects in various elements like housing, retail, commercial, and hospitality.

As per the Prestige Group Commercial Segment 2024 Update today, the firm has completed 125 projects that set over 1124 acres. It is currently working on 12 commercial projects that are spread over 528 acres of development area. The firm has 7 more new launches whose built-up area is around 183 acres. It has 400+ happy tenants and has gained Exit Rentals of ₹5,189 Million.

Prestige Estates News Today reports the Annuity income of Prestige Group FY28 is estimated to be ₹ 33,498 Million. Its workforce includes 450,000 employees. The firm's projected Annuity income has increased from ₹ 7,160 Million in FY25 to ₹ 33,498 Million in FY28.

Ongoing Commercial Projects

In the Commercial segment, the projects mainly include IT parks, Corporate Offices, and SEZs. It is working on 12 commercial projects, in which Bangalore bags 8 projects, and the projects are:

• Prestige Tech Hub
• Prestige Tech Habitat
• Prestige Lake Shore Drive Ph I
• Prestige Tech Forest
• Prestige Waterfront
• 13° North Commercial
• Prestige Techzone
• Prestige Capital Square

The Total area of construction of these projects is around 310 acres.

There are 3 projects ongoing in Mumbai, and is built over 207 acres. Prestige Liberty Towers, Prestige 1O1 (X), and Prestige 1O1 (Y) are the three, and all are expected to be completed by 2028. The Trade Center DIAL(Aerocity) is an ongoing project in Delhi which spread over 18 acres of land and is likely to be completed by FY 2025.

Upcoming Projects

Prestige plans for 7 new commercial segments to be launched in FY25. The development area for these projects is estimated to be 183 acres. Prestige Tech Park, Prestige Landmark, and Prestige JRC Signature Tower are 3 projects coming up in Bangalore. The total area of construction is 76 acres. Shipco is a new launch project coming up in Kolar, and it is to be set over 47 acres.

Prestige Cyber Green and Prestige Vantage Point are the 2 projects to be launched in Kochi. The area of construction is 24.5 acres. The WS Industries in Porur is a new launch in Chennai that is to be set over 37 acres. As per the firm’s capital expenditure, it has a net value of 1,03,688 Million balance to spend over its ongoing and upcoming projects.

Prestige Group prelaunch apartment is Prestige Raintree Park.