Prestige Group: Leaders in Indian Real Estate Development
Prestige Group is a leading and trusted real estate developer known for its award- winning projects in India. Founded in 1986 by Irfan Razack in Bangalore, the company initially focused on small housing projects in the city. With the support of his brothers, Rezwan Razack and Noaman Razack, Prestige Group has grown significantly over the past few decades, expanding into new areas of South India, including Chennai, Hyderabad, Mumbai and Goa. Today, it holds a 20% share of the real estate market in Mumbai.
The builders have become one of India's top real estate developers. It is the largest public sector real estate company in the country, with operations in 13 major cities, covering residential, commercial, retail, hospitality, and property management sectors. It holds DAQ CRISIL Grading and an ICRA A+ Stable Rating. Notably, it was the first real estate developer in Bangalore to receive ISO 9001:2000 certification.
As of the August 2024 report, the company has a legacy of over 300 completed projects spanning 4,362 acres. They also have 53 ongoing projects covering 2,112 acres and 48 upcoming projects covering 2,089 acres across India. Prestige Group's head office is at Prestige Falcon Towers, 19 Brunton Road, Bangalore Central.
Prestige Group in Bangalore is well-known for transforming the real estate industry with its commitment to excellence, innovative designs, high quality, and timely project completion. Their work has redefined luxury living and improved many lives. Prestige launched a new 100-acre township project, Prestige Raintree Park, in Whitefield, Bangalore. It is one of the largest township developments and will feature commercial spaces, shopping malls, spacious apartments, and luxury villas.
Prestige Group Market Capitalization
As of September 2024, Prestige Group net worth is Rs. 725.26 billion, and its share price is Rs. 1,808. It is ranked 1,845th globally in market capitalization. Over the past year, from 2023 to 2024, the company has experienced a growth of 230.30%.
The Market Cap of Prestige Construction for the year 2010 to 2024 - 14 years report:
| Year | Market cap | Change |
|---|---|---|
| 2024 | ₹723.82 B | 53.02% |
| 2023 | ₹473.02 B | 154.53% |
| 2022 | ₹185.84 B | -2.37% |
| 2021 | ₹190.34 B | 78.52% |
| 2020 | ₹106.62 B | -15.84% |
| 2019 | ₹126.69 B | 54.02% |
| 2018 | ₹82.25 B | -30.62% |
| 2017 | ₹118.55 B | 84.61% |
| 2016 | ₹64.22 B | -11.88% |
| 2015 | ₹72.88 B | 47.41% |
| 2013 | ₹56.80 B | -3.35% |
| 2012 | ₹58.77 B | 153.69% |
| 2011 | ₹23.16 B | 105.41% |
| 2010 | ₹11.27 B |
Prestige Group Revenue in 2024
| Year | Revenue | Change |
|---|---|---|
| 2024 (TTM) | ₹80.58B | -2.27% |
| 2023 | ₹82.45B | 5.21% |
| 2022 | ₹78.36B | 27.63% |
| 2021 | ₹61.40B | -10.66% |
| 2020 | ₹68.72B | -13.61% |
| 2019 | ₹79.55B | 57.91% |
| 2018 | ₹50.37B | -1.10% |
| 2017 | ₹50.93B | 8.42% |
| 2016 | ₹46.98B | -12.96% |
According to the most recent financial filings by Prestige Group, revenue was Rs. 81.21 billion. It follows a successful 2023 in which the business made Rs. 82.45 billion, up from Rs. 78.36 billion. This increase in revenue, which represents the entire income from products and services, highlights the company's excellent financial performance.
Annual revenue of Prestige Group from the year’s 2016 – 2024 is as follows:
Prestige Group Earnings
The latest financial reports show Prestige Group's earnings of Rs. 34.82 billion. This is a notable increase from Rs. 33.93 billion in 2023 and Rs. 24.87 billion in 2022. For 2024, the earnings are Rs. 34.54 billion, indicating that its healthy economic performance is continuing.
Earnings history of Prestige Group for the Year 2016 to 2024 is as follows:
| Year | Earnings | Change |
|---|---|---|
| 2024 (TTM) | ₹34.54 B | 1.81% |
| 2023 | ₹33.93 B | 36.41% |
| 2022 | ₹24.87 B | -9.73% |
| 2021 | ₹27.55 B | 100.32 % |
| 2020 | ₹13.75 B | -26.68% |
| 2019 | ₹18.76 B | 48.25% |
| 2018 | ₹12.65 B | 14.13% |
| 2017 | ₹11.08 B | 40.07% |
| 2016 | ₹7.91 B |
Highlights of Prestige Group
- Market Presence: One of India’s top real estate developers with a strong reputation for excellence and innovation.
- Financial Performance: As of 2024, the company’s revenue is Rs. 81.21 billion, with earnings of Rs. 34.82 billion, reflecting significant growth from previous years.
- Project Portfolio: Over 300 completed projects covering 4,362 acres, 53 ongoing projects on 2,112 acres, and 48 upcoming projects spanning over 2,089 acres in India.
- New Developments: Launching a major 100-acre township project, Prestige Raintree Park, in Whitefield, Bangalore, featuring commercial spaces, shopping malls, and luxury apartments.
- Global Ranking: Ranked 1,845th globally in market capitalization with a net worth of Rs. 725.26 billion and a share price of Rs. 1,808.
- Growth: Achieved a 230.30% increase in market performance over the past year (2023-2024).
- Certification and Ratings: First in Bangalore to receive ISO 9001:2000 certification and holds DAQ CRISIL Grading and an ICRA A+ Stable Rating.
Prestige Estates Projects Ltd. Company History
- Founded: 1986 by Irfan Razack in Bangalore, India.
- Early Focus: Began with small residential projects in Bangalore.
- Expansion: Entered Chennai, Hyderabad, and Goa in the 2000s, supported by brothers Rezwan Razack and Noaman Razack.
- Diversification: Expanded into commercial spaces, retail, hospitality, and property management in the 2010s.
- Major Projects: Launched significant developments, including luxury residential complexes and large township projects.
- Recent Milestones: As of 2024, it has over 300 completed projects, 53 ongoing projects, and 48 upcoming projects across India.
- Certifications: First in Bangalore to receive ISO 9001:2000 certification, with DAQ CRISIL Grading and ICRA A+ Stable Rating.
Prestige Group Owner
Irfan Razack, born October 30, 1953, is a Bangalore-born Indian billionaire entrepreneur. He is the Managing Director and Chairman of Prestige Group, one of India's most reputable real estate developers. With a wealth of $1.23 billion, he ranked 77th among Indians on the 2014 Forbes India Rich List. Prestige was the country's second-largest listed real estate company.
For his business excellence, he has won numerous awards, including:
- The Confederation of Real Estate Builders Association of India's Entrepreneur Extraordinary Award (2010).
- The Builders Association of India's Real Estate Excellence Award (2008).
- The Karnataka State Town Planning Development's Best Developer Award (2009).
In addition, he serves as Chairman and Co-Founder of Bangalore's Inventure Academy. He was Chairman of CREDAI, President of Bangalore Commercial Association (BCA), and Honorary Secretary of Al-Ameen Educational Society.
Prestige Group Awards and Recognition
The Prestige Group has received many awards for its dedication to real estate. The company is known for its skill in creating top-notch projects and its commitment to improving residents' lifestyles.
- International Hospitality Council London (IHC): In 2023, Irfan Razack received the IHC London & IIHM Lifetime Achievement Award.
- Retail & Shopping Centre: Forum Falcon City won the Most Admired Shopping Centre Launch of the Year award.
- Retail & Shopping Centre: Forum Thomson Mall was recognized as the Upcoming Mall of the Year.
- Retail & Shopping Centre Congress & Awards: UB City was awarded Best Thematic Decoration.
- SAP Ace Awards 2022 Indus: Prestige Group - Best Customer Experience Transformation.
- CWAB 2022: Prestige Estates Projects Limited has been named one of India's top builders.
- The Best of Bharat Awards 2022: Prestige Estates Projects Limited was given an e4m Pride of India Brands.
Prestige Group Bangalore
Prestige Group is a leading real estate developer based in Bangalore, known for its focus on sustainable projects. All major decisions, from launches to financial planning, are made at their headquarters in Bangalore. They have completed 150 residential projects covering 127 million sq. ft. and are currently working on 37 more projects in the city.
Some of the best projects of Prestige Group are:
