Over the last decade, the Prestige Group has firmly established itself as one of the leading and most successful developers of real estate in India by imprinting its indelible mark across all asset classes. Founded in 1986, the group's turnover is today in excess of Rs 3518 Cr (for FY 15); a leap that has been inspired by CMD Irfan Razack and marshaled by his brothers Rezwan Razack and Noaman Razack. As of 30th June 2020, the group has completed 247 projects covering 134 million sft, and currently has 45 ongoing projects covering over 53 million sft, 56 mn sft of upcoming projects, and holds a land bank of 262 acres with potential developable area of 27 mn sft. The Market Capital of the company as on 30 June 2020 is INR 84,021 Mn. The group's turnover for the quarter ended June 30, 2020 is INR 12,963 Mn.
Prestige Group has presence in residential, office, retail, and hospitality segments of real estate. It has operations in 12 key locations in India.
The group has completed 249 projects with developable area of 135 million square feet and has 47 ongoing projects across segments, with total developable area of 59 million square feet.
Further, the company has 62 million square feet under planning and holds a land bank with potential developable area of over 27 million square feet.
Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore. Bengaluru-based Prestige Group and Awfis will jointly invest to set up these centres and also share revenues.He remained bullish about the growth prospects of the Indian office market.
The company has diversified over time into a number of related/non-related services, each of them spearheaded by individuals with adroit capacity. Services are as varied as the interior designing done by Morph Design Company (MDC) and the redefinition of elegance and suave in men's formal dressing by Prestige Fashions (P) Ltd. They are also the only developers in South India to boast of such a widely diverse portfolio covering the residential, commercial, retail, leisure and hospitality segments. Of the six centres, four are located in Bengaluru's prime commercial locations, namely Koramangala, Outer Ring Road and two in Whitefield. The other two centres are at Guindy in Chennai and Begumpet in Hyderabad.
With a diverse portfolio across asset classes such as office, residential, retail and hospitality, Prestige Group is well established in Bengaluru, Chennai, Hyderabad, Kochi, Mysore, Mangalore, Goa, Ahmedabad and has now forayed into Mumbai, NCR and Pune.
Prestige Group has completed 112 commercial projects spread across 36 million square feet and is developing 24 projects spread across 42 million square feet in some of the major cities of the country.
Prestige Group Chairman Irfan Razack said: "Despite the challenging environment, Prestige has recorded highest ever sales and collections during the fiscal year. The record sales were backed by the great response to our newly launched projects as well as ready to move in inventory." The strong performance reflected the increasing consumer preference to own a Prestige group's residential property, he said.
Prestige Builders And Developers Private Limited which has the Brand Name Prestige Group has been registered in Bangalore under Company Registrar.
The company has many Award Winning Residential Developments spread across the Silicon Valley of India - Bangalore City. The residential developments range from 1 Bedroom Units to Luxury 5 Bedroom Golf Mansions. The company has also developed a number of Commercial Developments. Majority of the properties are developed by Prestige Constructions. Its projects includes Commercial Office Spaces and IT Parks to SEZs. The company has a diverse portfolio providing abundant Investment Opportunity into Bangalore's Commercial Real Estate Market.
Prestige Estates Projects Ltd., Bangalore also has interests in renting/leasing out properties. One can register themselves by providing personal and property details to Prestige Property, and a team of service providers will assist them in finding a tenant, or tenants for their diverse properties. Moreover, the company has developed luxurious Retail & Hospitality spaces as well as Retail Complexes, which are highly appreciated by many.
Prestige Estates Projects Ltd. is South India's largest and well known property developer, where one can find their dream home or business properties. All of the properties are built with high end technologies and are available within various budgets.
One can visit their website and browse various sections, find images of their developed residential and commercial properties and also contact if they have any queries. Investees ans NRI who are interested in the properties can refer to Investor's Facts and NRI FAQS. Over the decades, several reputed Indians and foreigners have bought properties and made smart investment decisions. Many of them are owners of award winning Prestige properties. Read Prestige Constructions Review to know more.
Leading realty firm Prestige Estates Projects Ltd is foraying into the Delhi-NCR market and has tied up with local developer Ace Group to launch its first housing project in Noida with an investment of around Rs 500 crore on construction.
"We are entering into Delhi-NCR which is a key real estate market in the country. We have formed a joint venture with Ace Group to develop this mid-income housing project," Prestige Group CEO Venkat K Narayan told PTI in an interview.
Ace Group owns around 15 acre land in Sector 150, Noida, Uttar Pradesh. The total development potential in the upcoming project is estimated at around 2 million sq ft, comprising more than 1,000 units.
Asked about the investment, Narayan said the land is already owned by joint venture partner and the cost of construction is estimated at around Rs 500 crore.
The construction cost would be met largely through sales and advances from customers, he said.
Real estate developer Prestige Group plans to invest more than Rs 3,500 crore to develop around 7 million sq ft commercial real estate in Bandra-Kurla Complex (BKC) and Turf View at Mahalakshmi in south Mumbai. Mumbai is a well-planned city for residential development and widespread green parks. The city features world-class infrastructure and developments. Metro rail, brilliant road connectivity by highways, better power & water supply, prominent educational institutions and hospitals add to Mumbai's stature. Finding just the right property for rent or sale in Mumbai is tougher than getting a job in this city. This rising demand for a home in Mumbai has invited numerous big builders to come up with reasonably priced housing way out in Mumbai. From a surplus of job options to an enhanced way of life, you will take time to get your apartment in Mumbai. With Prestige Group you can make this journey effortless as there are a number of inhabited projects in Mumbai whose fine points are easy to get to on the portal. Mumbai is known for its nightlife and protected surroundings and therefore it is measured to be the safest situate to live in India.