Prestige Group to deploy premium mixed-use brand
Copyright © HT Digital Streams Limited All rights reserved. The Prestige Group plans to develop two premium mixed-use development projects in Hyderabad in Mumbai. Summary The real estate group has so far earmarked two such projects in Mumbai and Hyderabad. Each project will have a luxury hotel, branded residences, premium homes, offices and a shopping mall. Bengaluru: The Prestige Group, a leading developer, plans to develop premium, mixed-use development projects in key real estate markets under a new sub-brand called The Prestige Place, a top company official said. Each project will feature a luxury hotel, branded residences, premium homes, office space and a shopping mall under Prestige’s own Forum brand. It earmarked one in two such projects. Mumbai. Bengaluru-based Prestige is known for its residential projects, business parks and malls, and is steadily building a multi-city real estate footprint outside its home turf. “We have created this brand, The Prestige Place, which will have a combination of different real estate products within one project. In addition to Mumbai and Hyderabad, going forward, in the future, we will explore important similar geCR project opportunities and -National project opportunities for us in (National-)Bengaluru,” Prestige Group chairman and managing director Irfan Razack said in an interview. In Hyderabad, Prestige plans to develop a mixed-use project spread over about 15 acres in the Budvel area. The project will create a St. Regis hotel, a Forum mall, offices, residences and more. Razack said the project is currently in the planning stages. The developer is in a more advanced stage of launching the Mumbai project under The Prestige Place sub-brand. The Jijamata Nagar slum redevelopment project spans 17 acres in the city’s upscale Worli neighborhood. It will be developed in partnership with Valor Estate Ltd (formerly DB Realty), and will feature a Waldorf Astoria hotel and branded residences, a Hilton hotel, apartments, retail and office. Among the top listed developers, Prestige reported the highest sales at ₹12,126 crore in the April-June quarter, driven by the launch of the national capital a high performance regional projects and (NKR). In the current financial year, the developer aims to achieve around ₹27,000 crore worth of residential sales, on the back of strong housing demand and a large launch pipeline. It achieved ₹17,023 crore in sales for FY25. As Prestige expands its portfolio, it also diversifies by creating differentiated product categories beyond the usual residential, office and mall segments. For example, it plans to develop golf-themed luxury resorts in Goa, Lonavla and Hyderabad as it aims to replicate its signature Gulfshire property near Bengaluru, Mint reported earlier. It is also developing integrated townships under the Prestige City sub-brand across cities. creating destination developments that are self-sustaining projects. “Prestige’s portfolio already has different types of projects. With a new brand under Prestige’s larger real estate brand, it can create a distinct identity for a certain type of project. In this case, it is a hybrid brand that will cater to hospitality, housing and commercial real estate requirements,” added Thakur. Get all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download the Mint News app to get daily market updates. more topics #Prestige Estates #Real Estate Read next story