The Group is considering growing in Bengaluru, Hyderabad, Mumbai, Chennai, Delhi-NCR, Goa, and Hyderabad.. About 75 percent of its launches will be in south India, Srivastava said.
Bengaluru-based Prestige Group plans to invest Rs 10,000 crore in the residential real estate sector by the end of FY25, Praveer Srivastava. The company’s senior vice president, residential sales, told Moneycontrol.
“This includes Rs 3,000 crore to acquire more land units and Rs 7,000 crore to construct and develop upcoming projects. While some of the funds have already been committed to ongoing projects. The rest will be deployed by the end of the year,” Srivastava added.
In FY25, the listed company plans to clock sales worth Rs 25,000 crore. The gross development value (GDV) — or the anticipated revenue — of the upcoming launches is close to Rs 60,000 crore. The company had Rs 10,000 crore worth of inventory at the beginning of the current fiscal year, in terms of GDV.
South India will comprise more than 70 percent of the total sales value and about 75 percent of the launches, Srivastava said.
In Delhi-NCR, the Prestige Group has three projects in the pipeline. “We have Prestige City in Indirapuram, which is a 62-acre land parcel with a development potential of over 4,000 apartments along with retail space, including a mall. The project has a GDV of over Rs 10,000 crore. We have a land parcel in KG Marg, which is less than an acre. For ultra-premium luxury housing that is expected in the first quarter of CY2025. And we will have another project in Sector 150, Noida ,” Srivastava added.
Srivastava added it has already acquired several land parcels in central and north Goa, and is looking at townships and premium villa projects. However, it did not share further details.
In Chennai, the company has acquired two land parcels with a GDV of about Rs 5,000 crore. The projects will comprise mid-segment apartments priced upwards of Rs 1 crore.
Bengaluru to see over Rs 30,000 crore worth of launches
“In Bangalore, we are looking at launches worth over Rs 30,000 crore with a total development potential of 25 million square feet.” Srivastava added.
In the current quarter. The company has three projects in the launch pipeline comprising apartments priced between Rs 2.5 to 7 crore. Going forward, the Group plans to have a plotted development project in north Bengaluru priced upwards of Rs 1 crore.
In Hyderabad, the Group is looking at an ultra-premium luxury residential development in the prime area of Banjara Hills, and two more projects in the Budvel region.
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