Prestige Estates Expands in NCR with ₹4,200 Crore Gurugram Project

Introduction to the New Development

Prestige Estates Projects Ltd, a prominent real estate developer, has announced a significant expansion in the National Capital Region (NCR) by entering into a Joint Development Agreement (JDA) to develop a large-scale housing project in Gurugram. The project, located on a prime 17.212-acre land parcel in Sector 92, is projected to generate revenues of approximately ₹4,200 crore. This strategic move underscores the company's focus on strengthening its presence in key high-growth markets across India.

Project Details and Strategic Location

The agreement, finalized on April 1, 2026, involves a partnership with landowner Sare Gurugram Pvt Ltd. The proposed development is planned to have a saleable area of around 3 million square feet. The choice of Sector 92 is strategic, given its proximity to the Dwarka Expressway, a major infrastructure corridor that has significantly enhanced connectivity and real estate potential in the region. This location is expected to attract strong interest from homebuyers looking for modern residential communities with access to key business hubs and social amenities.

Leadership Vision

Irfan Razack, Chairman and Managing Director of Prestige Group, commented on the development, stating, "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." Representing the landowner, Ajay Munot, Founder of Eka Life, added, "This strategic land parcel presents a compelling development opportunity. We are confident in Prestige Group's ability to execute, and their approach to planning and development aligns well with the potential of this location."

Ambitious Nationwide Launch Pipeline for FY26

The Gurugram project is part of a much larger expansion plan for the current financial year. According to its latest investor presentation, Prestige Estates intends to launch 25 new residential projects with a combined developable area of 44.80 million square feet. These launches, spread across Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa, are estimated to have a total Gross Development Value (GDV) of ₹42,120 crore. This aggressive pipeline signals the company's intent to capitalize on the sustained demand for housing in India's major urban centers.

Review of Previous Fiscal Performance

This ambitious launch plan follows a challenging financial year in 2024-25. The company experienced a sharp decline in net profit, which fell to ₹467.5 crore from ₹1,374.1 crore in the preceding year. Total income also decreased to ₹7,735.5 crore from ₹9,425.3 crore. Sales bookings were affected as well, declining by 19% to ₹17,023.1 crore, falling short of the company's internal target. Prestige Estates attributed this weaker performance primarily to delays in securing regulatory approvals for new projects, which impacted its launch schedule.

Key Project Highlights

To provide a clear overview, the table below summarizes the key metrics of the new Gurugram project and the company's broader launch plans.

Market Impact and Future Outlook

The new Gurugram project and the extensive FY26 launch pipeline are critical for Prestige Estates' growth trajectory. By significantly expanding its portfolio, the company aims to recover from the previous year's slowdown and strengthen its market position. The focus on high-potential corridors like the Dwarka Expressway in Gurugram demonstrates a calculated strategy to leverage infrastructure growth for real estate development. As of December 2025, the Prestige Group has a proven track record, having delivered 313 projects spanning 206 million square feet, with a current pipeline of 128 projects covering 195 million square feet.

Conclusion

Prestige Estates' entry into Sector 92, Gurugram, with a ₹4,200 crore housing project marks a significant step in its NCR expansion strategy. Supported by an aggressive plan to launch projects worth over ₹42,000 crore nationwide this fiscal, the company is positioning itself to meet strong consumer demand and drive future growth. Investors and homebuyers will be watching closely as these planned developments move from announcement to execution, especially following the operational challenges faced in the previous year.