Prestige Estates Aims High with New Ghaziabad Township

Prestige Estates Projects Ltd is set to expand its footprint in the Delhi-NCR residential market with the launch of a 62.5-acre township in Ghaziabad. The project, The Prestige City, Indirapuram, is anticipated to generate Rs 12,000 crore in revenue and marks a significant milestone for the company.

Prestige Estates Projects Ltd is making a bold entrance into the Delhi-NCR's bustling residential sector with its ambitious 62.5-acre township, setting a revenue target of Rs 12,000 crore. The move comes as part of the company's broader strategy to expand its market presence in northern India.

The new development, 'The Prestige City, Indirapuram', marks the firm's debut in the National Capital Region (NCR) residential market. Irfan Razack, the Chairman and Managing Director of Prestige Group, highlighted the significance of this project as the company broadens its footprint beyond southern India.

Despite a challenging fiscal year with delays impacting project launches and a 19% drop in sales bookings, Prestige Estates remains optimistic. The firm is focusing on upscale offerings and has reported an increase in average realisation prices. Looking ahead, Prestige Group plans to navigate approval processes efficiently to capitalize on the vibrant demand in 2025-26.

(With inputs from agencies.)