Prestige & Arihant Group Acquire Chennai Land Parcel for ₹5,000 Cr GDV Project
Prestige Group and Arihant Group jointly acquired a 16.331-acre land parcel in Padi, Chennai. The project, undertaken via a joint venture, is expected to generate ₹5,000 crore in revenue. This marks one of the largest land deals in Chennai in the past decade.
The acquisition of a prime land parcel for a ₹5,000 crore GDV project, described as one of the largest land deals in Chennai in a decade, is likely to have a significant impact on the company's future revenue and market position.
The announcement details a significant land acquisition for a large-scale residential project with substantial revenue potential, indicating positive business expansion and growth prospects.
Prestige Group, in collaboration with Arihant Group, has jointly acquired a prime 16.331-acre land parcel in Padi, Chennai. The acquisition was executed through Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations and Housing Ltd.
The proposed development on this land parcel includes a premium residential project estimated to have a total saleable area of approximately 3.6 million square feet, with an anticipated revenue potential of ₹5,000 crore.
Strategically situated in Padi, near the sought-after residential area of Anna Nagar, the site is well-supported by robust social infrastructure and connectivity. This transaction is noted as one of the largest land deals in Chennai over the last decade and is expected to significantly influence the residential market in the micro-market.
Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, expressed optimism about Chennai's market, citing stable demand, improving infrastructure, and evolving residential preferences. He emphasized the company's focus on expanding its presence in the city with high-quality developments and timely execution.
Mr. Kamal Lunawath, Managing Director of Arihant Group, highlighted the consistent growth of Chennai's residential market, driven by end-user demand. He believes the project's scale and prime location near Anna Nagar position it well to capitalize on this demand for a premium development.
Prestige Group has a legacy of nearly four decades, with a portfolio encompassing residential, commercial, retail, hospitality, and integrated townships. As of December 2025, they have delivered 313 projects totaling 206 million sq ft, with a pipeline of 128 projects covering 195 million sq ft.
Arihant Group, based in Chennai, brings over four decades of experience and has delivered more than 25 million sq ft of residential and commercial projects, known for quality, transparency, customer-centricity, and timely execution.
What to do with a filing like this
Prestige Estates Projects Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Prestige Estates Projects Limited. Read the original for the full detail.