Prestige Estates Eyes NCR Dominance with ₹4,200 Cr Gurugram Project

Introduction

Bengaluru-based Prestige Estates Projects Ltd. has announced a significant expansion of its presence in the National Capital Region (NCR) by entering into a Joint Development Agreement (JDA) for a large-scale residential project in Gurugram. This move, confirmed on April 1, 2026, involves a 17.2-acre land parcel with an estimated revenue potential of ₹4,200 crore. The new venture follows the company's highly successful entry into the NCR market with its township project in Ghaziabad, signaling a strategic push to establish a dominant position in North India's real estate landscape.

New Residential Venture in Gurugram

Prestige Group has partnered with landowner Sare Gurugram Private Limited to develop a modern residential community on a 17.212-acre site in Sector 92, Gurugram. The project is strategically located with close proximity to the Dwarka Expressway, a key infrastructure corridor that enhances connectivity to major business hubs and commercial centers. The development is planned to have a saleable area of approximately 3 million square feet. Irfan Razack, Chairman and Managing Director of Prestige Group, stated that this addition aligns with the company's strategy of strengthening its presence in key markets. He emphasized a measured approach, focusing on locations with improving infrastructure and long-term growth potential, while maintaining a commitment to disciplined execution and timely delivery.

The Ghaziabad Success Story

The confidence for this expansion stems largely from the exceptional performance of 'The Prestige City – Indirapuram' in Ghaziabad. This 62.5-acre township marked the company's grand entry into the NCR residential market. The first phase of the project, with a Gross Development Value (GDV) of around ₹11,000 crore, witnessed a near sell-out, with the developer selling inventory worth over ₹8,000 crore shortly after its launch. This strong market reception prompted the company to launch the next phase, named 'MayFlower', which is expected to add another ₹2,200 crore to the project's GDV. The project features 3,421 premium apartments across 19 high-rise towers, catering to strong end-user and investor demand.

NCR Emerges as a Core Market

The strategic focus on the National Capital Region has already yielded substantial results, transforming it into Prestige Group's top-performing market. In the first half of the financial year 2026 (H1 FY26), Delhi-NCR accounted for 45% of the company's total sales, surpassing its traditional strongholds of Bengaluru and Mumbai. This performance underscores the robust demand for high-quality, branded residential projects in the region. The company's ability to quickly capture a significant market share reflects its brand equity and execution capabilities, which have resonated well with homebuyers in North India.

Strong Financial Momentum and Outlook

Prestige Group's financial performance reflects its aggressive and successful expansion. The company's sales bookings have shown remarkable growth, setting a solid foundation for future projects. The following table summarizes key performance indicators:

These figures highlight a significant year-on-year growth trajectory. The company's sales of ₹18,143 crore in the first six months of FY26 have already surpassed the entire FY25 sales of ₹17,000 crore, indicating a potential full-year growth of 50-60%.

A Pan-India Expansion Blueprint

While NCR is a key focus, Prestige Group's growth strategy is national. The company is simultaneously launching several other large-scale projects across India. These include 'Prestige Garden Trails' in Mumbai's Mira Road corridor with a GDV of ₹2,000 crore, and 'Prestige Pallavaram Gardens' in Chennai with a GDV of ₹3,350 crore. Furthermore, new projects are planned in Bengaluru with a combined GDV of ₹7,500 crore and a massive 5,000-plus apartment complex in Hyderabad's Kollur area, also valued at a GDV of ₹7,500 crore. This multi-city approach diversifies the company's portfolio and mitigates regional market risks.

Leadership's Vision for North India

Praveer Srivastava, Senior Vice President of Prestige Group, confirmed the company's long-term commitment to the NCR. "We are already working on some proposals in Gurgaon, Delhi as well as in Noida. Definitely, we are there for the long term and looking at deepening and widening our footprint," he said. He noted that despite a discerning customer base, the demand for well-planned communities by reputed developers remains high. This trend is particularly evident in plotted developments, where Prestige commands a premium due to its focus on creating integrated communities with superior infrastructure.

Market Impact and Analysis

Prestige Group's successful foray into Delhi-NCR is a significant event in the Indian real estate sector. It demonstrates the ability of a major southern developer to penetrate and succeed in the competitive North Indian market. This expansion taps into the rising demand for large-format townships and branded residences, a segment where established players with a strong track record of delivery have a distinct advantage. The company's focus on execution and quality is a key differentiator that has helped it build customer trust quickly in a new market.

Conclusion

Prestige Estates' strategic expansion into the NCR is proving to be a highly successful venture, driven by strong sales and an ambitious project pipeline. The new ₹4,200 crore project in Gurugram builds on the momentum generated by its Ghaziabad township. With firm plans for further projects in Gurgaon, Delhi, and Noida, Prestige Group is positioning itself not just as a participant but as a leading force in one of India's most important real estate markets, reinforcing its status as a pan-India developer.