Prestige Group Acquires 25-Acre Land in Chennai for ₹5,000 Cr Project
Prestige Group has acquired a 25-acre land parcel in Medavakkam, Chennai. The site has development potential for 5 million sq ft and an estimated revenue potential of over ₹5,000 crore. The acquisition reinforces the company's commitment to the Chennai market and strengthens its development pipeline.
The acquisition of a large land parcel with a high revenue potential and its strategic importance for future growth in a key market like Chennai will have a significant impact on the company's business.
The acquisition of a significant land parcel with substantial revenue potential indicates positive business development and expansion for the company.
Prestige Estates Projects Limited announced the acquisition of a 25-acre land parcel in Medavakkam, Chennai. This acquisition is a significant business development for the Group and reinforces its commitment to the Chennai real estate market.
The acquired land parcel has a development potential of approximately 5 million square feet, with an estimated top-line revenue potential exceeding ₹5,000 crore. The site is planned to be developed into a large-format project, aligning with Prestige Group's focus on scale and planning efficiency.
Medavakkam is identified as a rapidly developing residential micro-market in Chennai, benefiting from its proximity to the OMR IT corridor, improved road infrastructure, and upcoming metro connectivity. This location offers a blend of accessibility, affordability, and growing social infrastructure, which is expected to support sustained residential demand.
Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, commented that this acquisition aligns with the company's long-term view of Chennai as a crucial market. He highlighted that the location is well-suited to meet the city's sustained mid-segment housing demand, supported by infrastructure improvements and proximity to key employment hubs. This addition is expected to strengthen the development pipeline and position the Group for future growth in Chennai.
Further details regarding the project's configuration and development timeline will be announced in due course. Prestige Group has a legacy of almost four decades and has delivered 310 projects spanning 202 million square feet, with a current pipeline of 130 projects across 199 million square feet as of September 2025.
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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.
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See the model portfoliosA plain-language summary of a public exchange filing by Prestige Estates Projects Limited. Read the original for the full detail.