Irfan Razack, the chairman and managing director of Prestige Estates Projects, traces his journey from humble beginnings to becoming one of India’s wealthiest individuals. Born into a family with a legacy in business, Razack’s father, Razack Sattar, founded the Prestige Group, starting with a small fabric and tailoring shop in Bengaluru in 1950.
Rise of Prestige Estates Projects
Under Razack’s leadership, Prestige Estates Projects has emerged as a prominent player in the Indian real estate sector. With a diverse portfolio spanning residential, commercial, retail, and hospitality segments, the company has completed 285 projects and has 54 ongoing projects covering a staggering 75 million square feet.
Financial Milestones
In a significant milestone, the wealth of Irfan Razack and his family surpassed $1 billion, fueled by a 60% rise in shares of Prestige Estates Projects. The company’s success positions it as India’s largest listed property firm, trailing only behind DLF. Notable tenants in Prestige properties include global brands like Apple, Caterpillar, Armani, and Louis Vuitton.
Entrepreneurial Spirit and Vision
Despite early plans for retirement after selling his second real estate project in Bengaluru in 1990, Razack’s passion for creativity and entrepreneurship led him to continue building Prestige Estates Projects into a real estate powerhouse. He attributes his success to meticulous planning and a clear vision for the company’s growth.
Expansion and Innovation
Prestige Estates Projects’ footprint extends beyond Bengaluru to cities like Chennai, Kochi, Calicut, Hyderabad, and Mumbai. With a focus on middle-class buyers, the company aims to quadruple its annual sales by 2019, reflecting Razack’s commitment to innovation and customer satisfaction.
Legacy and Family Involvement
Razack’s younger brothers, Rezwan and Noaman, play integral roles in the family business, contributing to its success and shared fortune. The entrepreneurial spirit runs deep in the Razack family, with their fabric and tailoring shop still operating alongside Prestige Estates Projects’ real estate ventures.
Personal Interests and Achievements
Beyond his business endeavors, Razack has a passion for adventure sports, reflecting his adventurous spirit and zest for life. His journey from a small clothing shop to the helm of a billion-dollar real estate empire exemplifies the power of vision, hard work, and determination.
Continued Success
As of 2024, Irfan Razack’s net worth stands at an impressive $1.3 billion, cementing his status as one of India’s most influential and successful entrepreneurs. With Prestige Estates Projects poised for further growth and innovation, Razack’s legacy continues to inspire aspiring entrepreneurs across the country.