Prestige Estates Projects Limited has successfully launched a ₹5,600 crore residential project in Gurgaum, marking a significant expansion in the National Capital Region (NCR) market. The development features a 17.14-acre land parcel in Sector 109, Gurgaum, strategically located in one of the city's prime residential sectors with excellent connectivity to the Dwarka Expressway. According to the latest announcement, this project represents a 33.33% increase in projected GDV compared to their previous Gurgaum land JDA in Sector 92, which was signed on April 1, 2026, demonstrating the company's aggressive mid-to-luxury positioning in the NCR market. Irfan Razack, Chairman and Managing Director, noted that the group's entry into the NCR residential market last year marked an important milestone, stating this new project in Sector 109 further strengthens their pipeline and reflects confidence in the long-term potential of NCR, with the region expected to play an increasingly important role in their growth trajectory.
The acquired land parcel enjoys excellent connectivity to the Dwarka Expressway, providing seamless connectivity to key residential, commercial and social infrastructure destinations across Gurgaum and Delhi. This strategic location will enhance the project's accessibility and market appeal to potential buyers. The higher GDV-to-acreage ratio of this project demonstrates that Prestige is confident in pushing premium pricing in Gurgaum, moving up the value curve from its previous mid-market focus in Sector 92, with the company targeting the Dwarka Expressway corridor to capitalize on NCR's fast-improving connectivity. The strategic location aligns with ongoing infrastructure upgrades in the region, which the company cites as a driver for robust residential demand, with the project being anticipated to meet growing residential demands and contribute significantly to Prestige Group's ongoing success in the NCR market.
Prestige Estates Projects Limited has delivered 319 projects covering 216 million square feet and maintains a current pipeline of 137 projects across 229 million square feet as of June 2026. The company posted consolidated net pre-sales of ₹65,793 million (₹6,579.3 crore) in Q1 FY27, with Hyderabad contributing 49% of the sales. The stock was among the top gainers on the Nifty Midcap index, with Prestige Estates shares jumping over 3 percent following the announcement. The stock was trading around ₹1,636, up 3.4 percent, with the broader realty sector benefiting as the Nifty Realty index gained 2.58 percent to emerge as the top sectoral gainer. The acquisition will expand the developer's massive ₹65,000 crore unrecognized revenue pipeline through this asset-light growth strategy.
The upcoming residential project will feature a saleable area of approximately 2.8 million sq. ft., representing a substantial development footprint in the Gurgaum market. According to the latest announcement, the project carries an estimated Gross Development Value (GDV) of approximately ₹5,600 crore, indicating the significant scale and potential returns from this acquisition. The addition strengthens Prestige's presence in the National Capital Region and adds scale to its residential development pipeline in northern India, with the company successfully launching and RERA registering the Sector 109 housing project. The disclosed GDV of ₹5,600 crore represents a material addition to the group's development pipeline, which already stood at 229 million sq. ft. across 137 projects as of June 2026.
As part of its growth strategy, Prestige Estates is actively expanding its footprint across the Delhi-NCR region, with additional projects underway in Ghaziabad and Noida. The entry of marquee Bengaluru developers like Prestige into Gurgaum's luxury segment intensifies competition for established local giants like DLF, as part of a broader trend where pan-India developers are actively accumulating land along premium growth corridors. Oberoi Realty recently entered Gurgaum with its ₹6,000 crore 'Three Sixty North' housing project in Sector 62, while Whiteland Corporation partnered with Marriott to invest ₹5,600 crore in the Westin Residences in Sector 103. With rising land prices, projects of this scale are expected to sustain high ticket prices, keeping the premium residential market in Gurgaum highly buoyant. The government's continued investment in expressway and metro connectivity in the NCR region has supported residential demand in sectors along these corridors, with the Dwarka Expressway corridor attracting several large-format residential projects from national developers.
