Prestige Estates Projects, the Bengaluru-based real estate developer, has announced a significant investment deal with Abu Dhabi Investment Authority (ADIA) and Kotak AIF worth ₹2,001 crore. The investment will be utilized for residential projects spanning across four major cities in India, with a gross revenue potential of ₹18,000 crore.
The identified land parcels for these residential developments are located in Goa, Bengaluru, Mumbai, and the National Capital Region (NCR), totaling an area of 14 million square feet. Venkat K Narayana, Group CEO of Prestige Group, highlighted the growth opportunities and demand momentum driving this strategic investment.
Under the terms of the deal, Prestige Group will contribute 30-40% of the investment, including land, with the remainder being funded by ADIA and Kotak AIF. The projects are scheduled to be launched within 9-12 months, with one project planned for each quarter, and completed over the next 3-4 years. The Mumbai project is positioned as premium, while Goa's is mid-level, and Bengaluru and NCR's projects target upper mid-income segments.
This collaboration is part of Prestige Group's organic growth strategy and aims to develop early-stage residential projects to meet the growing demand for housing. The confidence shown by institutional investors, including ADIA and Kotak AIF, reflects positively on Prestige Group's market reputation and growth trajectory
Chairman and Managing Director Irfan Razack emphasized the company's expansion across India, particularly in Mumbai and the NCR real estate markets, underscoring its commitment to delivering successful projects nationwide.
Prestige Estates Projects continues to strengthen its position as a leading player in the Indian real estate sector, leveraging strategic partnerships and innovative developments to cater to evolving market demands.
