Tag: Prestige Estates Projects Ltd

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Prestige Group JV Acquires 16.38 Acres in Chennai for ₹561 Crore

Representative AI image NEW DELHI: Prestige Estates Projects Ltd, through its joint venture, has finalized the acquisition of a 16.38-acre plot in Padi, Chennai, for Rs 561 crore to develop a real estate project. The land is being sold by Sundaram-Clayton Ltd. Canopy Living LLP, a collaboration between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd, has entered into an agreement for this land parcel, according to a regulatory filing dated January 8. This purchase aligns with Prestige Group’s strategy to enhance its presence in premium urban areas. Sundaram-Clayton Ltd also communicated to the exchanges that on January…

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Sundaram-Clayton to sell 16.38 acres in Chennai for ₹560 crore

BENGALURU: Sundaram-Clayton Ltd has entered into an agreement to sell a 16.381-acre land parcel in Chennai to Canopy Living LLP, a joint venture of Arihant Foundations & Housing Ltd and Prestige Estates Projects Ltd, for approximately Rs 560 crore. This move is part of their strategy to monetize non-core assets and enhance value. In a regulatory filing on Thursday, the company announced it executed the Agreement to Sell (ATS) on January 8, 2026, for the property located in Korattur village, Ambattur taluk, a well-connected residential and industrial micro-market in northwest Chennai. Completion of the transaction is anticipated by February 11,…

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Prestige Estates Q2 FY26 Profit Soars 95% to ₹457.4 Crore

NEW DELHI: Prestige Estates Projects Ltd has announced a 95% increase in consolidated net profit, reaching Rs 457.4 crore for the September quarter, thanks to higher income and reduced expenses. In the same quarter last year, net profit was Rs 234.6 crore. The total income surged to Rs 2,697.8 crore in the second quarter of this fiscal, up from Rs 2,423.8 crore during the corresponding period last year, as reported in their Wednesday regulatory filing. Irfan Razack, Chairman and Managing Director of Prestige Group, stated that the company has delivered strong financial and operational performance. “The first half of FY26…

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Prestige Estates Q2 FY26 Sales Surge 50% to ₹6,017 Crore

NEW DELHI: Prestige Estates Projects Ltd reported a 50% increase in sales bookings, reaching ₹6,017.3 crore in the second quarter of this fiscal year, attributed to rising housing demand. In its regulatory filing, the company highlighted that robust demand across various markets and segments fueled this growth in sales bookings or pre-sales. Sales volume for the quarter totaled 4.42 million square feet, an increase of 47% year-on-year. During the July-September period, the company sold 2,069 units, with the average realization for apartments rising 8% year-on-year to ₹14,906 per square foot. Meanwhile, plots saw an impressive 43% increase in realization to…