Prestige Group targeting Rs 10,000 cr annual revenue from NCR
real estate developer Prestige Group is targeting Rs 10,000 crore in annual revenue from the National Capital Region from as early as next financial year as part of its aggressive expansion plans in the region, chairman and managing director Irfan Razack said.
The company, which currently generates no revenue from the NCR, is expected to launch a mid-segment project in Ghaziabad, an uber-luxury project along Kasturba Gandhi Marg in Lutyens’ Delhi and has an under-construction hotel and office project at Aerocity near the capital’s airport.
“I believe that the NCR market, if we approach it correctly, and with the type of projects we have along with properly growing the pipeline, has the potential to generate Rs 10,000 crore in sales annually,” Razack told ET.
The Prestige Group earlier this year acquired 62.5 acres of prime land at Indirapuram in Ghaziabad for Rs 468 crore.
Its project at Indirapuram spans more than 10 million square feet of saleable area, with a projected gross development value surpassing Rs 10,000 crore.
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