Real estate firm Prestige Group is expanding its presence in the NCR region, as the company announced the acquisition of a land parcel in Gurgaon, Haryana. The acquisition forms a part of its residential development portfolio, and the area’s gross development value (GDV) stands at Rs 5,600 crore. Following the announcement, its share price rose around 3%.
Prestige Group: Project details
The Bengaluru-based real estate developer has added a 17.14-acre land parcel located in Sector 109, Gurgaon, to its residential development portfolio. The project will have a saleable area of nearly 2.8 million sq. ft and an estimated GDV of nearly Rs 5,600 crore.
The company said that the area provides connectivity to Dwarka Expressway and other key locations across Delhi and Gurgaon.
“This acquisition further strengthens Prestige Group’s presence in the National Capital Region and adds significant scale to its residential pipeline in the north. The strategic location, coupled with the region’s robust residential demand and ongoing infrastructure development, makes this an important addition to the Group’s NCR portfolio,” the company said in its exchange filing.
Prestige Group: Management commentary
Speaking on the acquisition, Irfan Razack, Chairman & Managing Director, Prestige Group, said, “With a strong portfolio of developments planned across NCR in FY27, we are steadily building scale and depth in the region. This new project in Sector 109, Gurgaon, further strengthens our pipeline and reflects our confidence in the long-term potential of NCR.”
Prestige Group share price
Prestige Group’s share price was up over 2% in Thursday’s intraday. Over the past one month, its stock has delivered a return of nearly 16%, while over the past six months, its share price has climbed around 21%.