In a bid to develop housing projects, Bengaluru-based Prestige Estates Projects Ltd has secured 102 acres of land during the April-June quarter, which could potentially yield revenue exceeding Rs 20,000 crore. Aiming to broaden its residential real estate operations, the company has been purchasing land parcels outright and forming partnerships with landowners.

The company acquired a total of 102 acres of land across Bengaluru, Hyderabad, Chennai, and Mumbai in the first quarter of this fiscal year. These land parcels are intended for the development of residential projects, which are projected to have an estimated gross development value (GDV) of Rs 20,400 crore.

As per its recent investor presentation, Prestige Estates in Hyderabad acquired two plots — 28 acres in Tellapur and 37 acres in Pulimamidi.

In Bengaluru, the company has acquired three land parcels — 10 acres in Poojanahalli – Devanahalli, 7 acres in Kothanuru, KR Puram and 10 acres in Ittangur, Sarjapura. At Velachery in Chennai, the company acquired 3.48 acres. Prestige acquired 6.3 acres of land in Mumbai. The presentation did not mention the cost of the land.

On financial performance, the company recently reported a 26 per cent increase in its consolidated net profit to Rs 292.5 crore during the first quarter of this fiscal.

Its net profit stood at Rs 232.6 crore in the year-ago period.

The total income rose to Rs 2,468.7 crore during the April-June period of this fiscal from Rs 2,024.5 crore in the corresponding period of the preceding year.

Last month, Prestige Estates Projects Ltd reported a four-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of FY26, mainly due to strong demand for its housing project in Ghaziabad.

The company’s sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago period.

During the entire last fiscal year, Prestige Estates sales bookings declined 19 per cent to Rs 17,023.1 crore, “reflecting the impact of deferred launches amid approval delays”.

The company has given guidance of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year.

Prestige Group has delivered over 300 projects and has a pipeline of around 140 projects.