Bengaluru-based Prestige Group plans to launch more than 12,000 residential units across India by March 2023 and invest Rs 10,000 crore for office space development in Bengaluru over the next five years.
It is eyeing Rs 2,800 crore of annual net operating revenue across the commercial segment over the next five years. Among the launches in the residential segment, about 5,000 units will be in Bengaluru and Hyderabad each, 2,000 units in Pune and about 400-700 inventories in Mumbai.
Swaroop Anish, Executive Director, Business Development, Prestige Group, told Moneycontrol, “In Mumbai, we are only looking at fewer fresh launches of Rs 2.5 crore and above. We are also looking at 200 acre-plus township development in Hyderabad over the next year under our Prestige City wing.”The company said it plans to foray into National Capital Region (NCR) for residential projects but did not share any timeline for the launches.
For Bengaluru, Prestige is looking at major developments near Whitefield and in the southern parts of the city.
The company will also launch 50 acres of plotted development in the first quarter of next year.