Bengaluru-based, listed real estate developer, Prestige Estates Projects Ltd has entered into a partnership with a landowner to develop a 17-acre housing project in Gurugram, with an estimated revenue potential of ₹4,200 crore.
The company, in a regulatory filing on April 1, said that it has secured a land parcel in Sector 92, Gurugram. "The company has entered into a Joint Development Agreement (JDA) for a 17.212-acre land parcel," it said.
"Strategically located in Sector 92, Gurugram, with close proximity to the Dwarka Expressway, the project is well-positioned to benefit from the area’s improving infrastructure, enhanced connectivity to key business districts, and growing residential demand. The development is envisaged as a modern, thoughtfully planned residential community aligned with Prestige Group’s focus on quality and execution," the company said.
“This addition in Gurugram aligns with our broader strategy of strengthening our presence across key markets such as the NCR. While the region continues to see steady demand, we remain measured in our approach, focusing on locations with improving infrastructure and long-term potential. As always, we remain focused on disciplined execution and timely delivery, which continues to be appreciated by our customers and partners," Irfan Razack, Chairman and Managing Director, Prestige Group, said.
{{/usCountry}}“This addition in Gurugram aligns with our broader strategy of strengthening our presence across key markets such as the NCR. While the region continues to see steady demand, we remain measured in our approach, focusing on locations with improving infrastructure and long-term potential. As always, we remain focused on disciplined execution and timely delivery, which continues to be appreciated by our customers and partners," Irfan Razack, Chairman and Managing Director, Prestige Group, said.
{{/usCountry}}According to the company, this development is expected to further enhance Prestige Group’s residential portfolio in NCR and reflects its continued focus on expanding across key urban markets through a calibrated, execution-led approach.
“This strategic land parcel presents a compelling development opportunity, and we are excited about our partnership with Prestige Group. We are confident in their ability to execute, and their approach to planning and development aligns well with the potential of this location. We believe this project will contribute meaningfully to the micro-market and create long-term value for all stakeholders," said Ajay Munot, Founder, Eka Life, on behalf of the landowners, Sare Gurugram Private Limited (JV of Eka-KGK-Dhoot).