Prestige Group

Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore, Irfan Razack, Chairman and MD of Prestige Estates said

Realty firm Prestige Estates on Monday reported over four-fold jump in its sales bookings at Rs 3,012 crore during the first quarter of this fiscal year on better demand and lower base effect

The listed company, which has a presence in the southern market and has delivered over 250 projects, will develop both residential and commercial projects in the financial capital

Real estate firm Prestige Estates Projects Ltd on Monday reported an 88 per cent year-on-year growth in its sales bookings at Rs 2,111.9 crore for the quarter ending September on better housing demand

Increasing demand for luxe housing, accommodative state policies and decadal-low home loan rates could be some of the triggers

This comes on the back of better demand for its properties

Realty firm Prestige Estates Projects on Tuesday said it has signed definitive agreements with global investment firm Blackstone to sell 12 assets/undertakings comprising completed office, retail and hotel properties in the first phase of Rs 9,160-crore deal. In November last year, the Bengaluru-based firm had signed term sheet to sell a large portfolio of completed as well as under-construction office, retail and hotel properties to Blackstone for an enterprise value of Rs 9,160 crore. The company will use the fund to retire its debt and future expansion. In a regulatory filing, Prestige Estates Projects informed that the company on Tuesday executed the asset specific agreements or definitive documents with 'BREP Acquirers' (Backstone entities) for sale of twelve assets/undertakings comprising of completed retail, office and hotel assets as Phase I of the proposed transaction. "Upon consummation of the transactions contemplated in the Definitive Documents, further intimation will

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

Realty firm Prestige Estates Projects' sales bookings rose 9 per cent year-on-year to Rs 1,123.3 crore during September quarter on better demand for its residential properties

Prestige Estates Projects Ltd has partnered with Brigade group to jointly develop a commercial project, comprising a shopping mall and a hotel, in Bengaluru

Real estate developers may raise more than USD 25 billion over the next three years by listing their rent-yielding commercial properties through the Real Estate Investment Trusts (REITs) route, according to realty consultant Anarock. Earlier this year, global investment firm Blackstone and realty firm Embassy group launched India's first REIT to raise Rs 4,750 crore. Their joint venture firm Embassy Office Parks listed its rental assets on the exchanges. "Commercial REITs may raise over USD 25 billion for Indian real estate over the next three years. This involves the listing of more than 150 million sq ft of rent-yielding Grade A office properties across top seven cities - covering 25-30 per cent of the overall Grade A office space in these cities," said Shobhit Agarwal, MD & CEO Anarock Capital. Currently, the top seven cities -- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune -- have close to 550 million sq ft Grade A office supply - of which 310-320 million

Sterling Urban Infraprojects owns around 59 acres of land at outer ring road-Sarjapour, Bengaluru

The Singapore-based CapitaLand had entered into agreement with the Prestige group in 2008 to invest in its malls

The company already has 33.34 per cent stake in Prestige Projects Pvt Ltd, which has 180 acres of land in Bengaluru.