Prestige Group Secures Prime Land Parcel in Gurugram with ₹4,200 Crore GDV Potential

Prestige Estates Projects Limited ("Prestige Group"), one of India's leading real estate developers, has secured a prime land parcel in Sector 92, Gurugram, further strengthening its presence in the National Capital Region (NCR).

The Company has entered into a Joint Development Agreement (JDA) for a 17.212-acre land parcel. The proposed development is expected to have a saleable area of approximately 3 million square feet, with an estimated Gross Development Value (GDV) of around ₹4,200 crore.

Strategically located in Sector 92, Gurugram, with close proximity to the Dwarka Expressway, the project is well-positioned to benefit from the area's improving infrastructure, enhanced connectivity to key business districts, and growing residential demand. The development is envisaged as a modern, thoughtfully planned residential community aligned with Prestige Group's focus on quality and execution.

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

Commenting on the development, Mr. Irfan Razack, Chairman and Managing Director, Prestige Group, said: "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."

Sharing his perspective on behalf of the landowners, M/s Sare Gurugram Private Limited (JV of Eka-KGK-Dhoot), Mr. Ajay Munot, Founder, Eka Life said: "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."

Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1145.00 as compared to the previous close of Rs. 1126.20. The total number of shares traded during the day was 23438 in over 2768 trades.

The stock hit an intraday high of Rs. 1166.40 and intraday low of 1137.25. The net turnover during the day was Rs. 26992391.00.

Source : Equity Bulls

Keywords

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