Prestige Group buys 21 acres in Bengaluru for Rs 450 crore
In a regulatory filing on Thursday, Prestige Estates Projects said the acquired land will be planned for residential development comprising about 1,800 apartments.
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NEW DELHI: Realty firm Prestige Group has acquired 21 acres of land in Whitefield, Bengaluru, for Rs 450 crore to develop a housing project and is expecting a revenue of Rs 4,500 crore over the next four years.
In a regulatory filing on Thursday, Prestige Estates Projects said the acquired land will be planned for residential development comprising about 1,800 apartments. Prestige Group CMD Irfan Razack said, “The prime land in Whitefield, Bengaluru presents an excellent opportunity for us to expand our presence in a large IT corridor. This large-format project spans over 4 million sq ft of area for development, with a projected gross development value of Rs 4,500 crore.”
The group has completed 300 projects spanning a development area of 188 million sq ft.
