The Prestige Group, based in Bengaluru, plans to invest ā¹10,000 crores in the development of office space.
Story so far: The Prestige Group, based in Bengaluru, intends to build more than 12,000 residential units around India by March 2023 and to invest ā¹10,000 crores in Bengaluru’s office space development over the next five years.
- Over the next five years, it plans to generate ā¹2,800 crores in net operating revenue annually from the commercial segment.
- In the residential market, there will be launches of roughly 5,000 units each in Bengaluru and Hyderabad, 2,000 units in Pune, and 400ā700 inventories in Mumbai.
Company plans: The company stated that it intended to construct residential projects in the National Capital Region (NCR). However, it did not provide a debut date. Prestige is considering major development around Whitefield and in the southern regions of Bengaluru. The company will also begin plotted development on 50 acres in the first quarter of 2023.