Prestige group eyes Mumbai, NCR for new realty launches

Bengaluru-based Prestige Estates Projects Ltd is looking at new launches in Mumbai and the National Capital Region (NCR).

Inaugurating five residential and office properties in Bengaluru, Irfan Razack, Chairman and Managing Director, Prestige Group, said, “New launches in Mumbai and the National Capital Region (NCR) is part of our strategy to enter new geographies in the residential as well as office space.”

“I believe that our past performance, prime locations as well as efficient pricing have helped strengthen our market position,” he added.

The developer said it has consistently completed projects as scheduled, met customer expectations and retained a good growth momentum.

Razack said, “Our growth trajectory in residential real estate has been very strong. Earlier this year, when we launched Prestige Elysian, a residential apartment project in Bengaluru, it met with a resounding response, and we sold almost one-third of the project immediately. All our projects in Bengaluru and Hyderabad have garnered positive response.”

He further added, “With the government assuring more credit support to developers and working on positive policy reforms such as the Real Estate Regulation and Development Act, 2016 and the GST, there is immense scope for development and investment opportunities for the real estate sector today.”