Prestige Estates Projects Limited has informed the Exchange regarding a press release dated January 08, 2026, titled "Prestige Group signs Agreement to Purchase 16.38-acre land parcel in Padi, Chennai".
PRESTIGE · price
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Prestige Group, through its joint venture Canopy Living LLP (with Arihant Foundations & Housing Limited), has signed an Agreement to Sell to buy a 16.38-acre land parcel in Padi, Chennai. The land is close to Anna Nagar, one of Chennai's most established residential micro-markets with strong social infrastructure and connectivity. The acquisition is part of Prestige's strategy to expand in high-quality urban locations while maintaining disciplined capital allocation. As of September 2025, the Group had delivered 310 projects covering 202 million sq ft and has a pipeline of 130 projects covering 199 million sq ft. The financial value of the deal has not been disclosed in this announcement.
This land acquisition strengthens Prestige's residential development pipeline in the Chennai market and signals continued growth ambitions, though the absence of deal value limits assessment of financial impact on the stock in the near term.