Prestige Estates Projects Limited has announced the acquisition of a prime 17.212-acre land parcel in Sector 92, Gurugram, through a Joint Development Agreement. The proposed residential project is expected to generate a Gross Development Value (GDV) of approximately ₹4,200 crore. Featuring a saleable area of roughly 3 million square feet, this development aims to strengthen the company’s footprint in the National Capital Region by leveraging proximity to the Dwarka Expressway.
Expanding Presence in NCR
On April 1, 2026, Prestige Group confirmed the signing of a Joint Development Agreement (JDA) to develop a strategic land parcel in Sector 92, Gurugram. This move is part of the company’s long-term strategy to expand its residential portfolio in high-growth urban markets, specifically within the National Capital Region (NCR).
Development Highlights and Strategic Value
The site covers 17.212 acres and is slated to deliver a total saleable area of about 3 million square feet. With an estimated Gross Development Value (GDV) of ₹4,200 crore, the project will feature a modern, thoughtfully planned residential community. The location is highly advantageous due to its connectivity to key business districts and its proximity to the Dwarka Expressway, which serves as a major infrastructure driver for the area.
Leadership Perspective
Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, emphasized that the decision aligns with the company’s disciplined approach to growth. By targeting locations with improving infrastructure and long-term potential, the company continues to focus on execution-led value creation. Mr. Ajay Munot, Founder of Eka Life (partnering via M/s Sare Gurugram Private Limited), expressed confidence that the partnership will contribute significantly to the local micro-market and provide lasting value for stakeholders.
Portfolio Strength
This development underscores the continued growth of the Prestige Group, which boasts a strong legacy of nearly four decades. As of December 2025, the Group has successfully delivered 313 projects covering 206 million square feet, with a robust ongoing pipeline of 128 projects spanning 195 million square feet.
Source: BSE
