Prestige Group

Prestige Group is one of India's leading real estate developers, headquartered in Bengaluru, Karnataka. Established in 1986 by Razack Sattar, the company has been instrumental in shaping the urban landscape of South India, particularly in Bengaluru.

Highlights of Prestige Group:

• Founders: Razack Sattar, with sons Irfan, Rezwan, and Noaman Razack playing pivotal roles.
• Headquarters: Bengaluru, Karnataka.
• Industry: Real Estate Development.
• Market Presence: Active in major cities including Chennai, Kochi, Hyderabad, Mumbai, Mangalore, Goa, and Mysore
• Completed Projects: Over 300 developments spanning residential, commercial, retail, hospitality, and leisure sectors.
• Ongoing Developments: Approximately 56 projects covering 75 million square feet.
• Land Bank: Over 710 acres as of June 2023.
• Ratings: CRISIL DA1+ and ICRA A+ (long-term), A1+ (short-term).

🏗️ Key Projects

• Prestige Shantiniketan: An integrated township in Whitefield, Bengaluru, featuring residential, commercial, and hospitality components.
• UB City: A luxury mixed-use development in Bengaluru, comprising office spaces, retail outlets, and service apartments.
• Prestige Golfshire: A 275-acre golf community near Nandi Hills, offering luxury villas and a golf course.
• Nexus Koramangala (formerly Forum Mall): Bengaluru's first shopping mall, developed by Prestige Group.

🏨 Hospitality Ventures : Prestige Group has expanded into the hospitality sector, operating hotels in Bengaluru and Kochi, including brands like JW Marriott and Sheraton Grand. In 2024, the company approved a $599 million fundraise to monetize its hospitality assets, potentially through an initial public offering.

📊 Recent Developments :

• Q2 2024 Performance: The company reported a 3% increase in revenue to ₹23.04 billion, though profits declined by 77% due to delayed approvals impacting property launches in Bengaluru.
• Strategic Partnerships: In April 2024, Prestige Estates signed a $240 million deal with Abu Dhabi Investment Authority and Kotak Alternate Investment Fund to develop residential projects in Bengaluru, Mumbai, Goa, and the National Capital Region.

Prestige Group prelaunch apartment is Prestige Huyilalu.