Dear Stakeholders,
As we reflect on the FY 24, I am delighted to share that Prestige Group has achieved
remarkable milestones, marking this year as one of the most successful in our history.
Building upon our strong legacy, we have established a robust business model that enables
us to consistently deliver on our commitments and confidently move forward towards the
exciting prospects that await us. With a strong focus on environmental stewardship,
resource efficiency, and cutting-edge designs, we are committed to driving growth while
contributing to a sustainable and prosperous future.
Financial Highlights
Our financial performance for the year has been outstanding, reflecting the strength
and resilience of Prestige Group:
• Total Revenue: Achieved a record total revenue of Rs.9,425 Cr
• EBITDA: Our EBITDA for the year stood at Rs.4,047 Cr
• Net Profit: Net Profit for the year was Rs.1,628 Cr
Strategic Acquisitions and Partnerships
Our strategic acquisitions and partnerships have strengthened our portfolio and are set
to expand our market reach and footprint in the upcoming years:
• Acquired a sizeable land parcel in Indirapuram Extension, spanning 62.5 acres,
with a development potential of 10 mn sft and a gross development value of approximately
Rs.10,000 Cr.
• Acquired 24 acres of land in Hyderabad with a development potential of 8 mn sft
and sales potential of approximately Rs.6,500 Cr.
• Secured a deal with ADIA Kotak AIF for raising Rs.2,001 Cr to further expand our
portfolio.
• Partnered with Marriott International for six hotels across India.
• Signed a significant deal with BNY Mellon for Prestige Alphatech, Pune,
occupying the entire building.
• Acquired 100% stake in office developments in BKC 1 and The Prestige Mahalakshmi
in Mumbai.
• Launched the largest single project in Hyderabad, The Prestige City Hyderabad,'
spanning over 13 mn sft.
• Completed one of the largest office developments in Hyderabad, Prestige Skytech,
covering 3.6 mn sft.
• Opened the first Marriott branded 128-key 'Moxy Hotel' in South Asia.
• Inaugurated Forum Mall in Kochi, spanning an area of 1.02 mn sft.
• Our market capitalisation surged from Rs.16,000 Cr to a peak of Rs.55,000 Cr
during FY 24.
Sustainability in Modern Spaces
We take immense pride in our extensive portfolio of LEED- certified buildings,
showcasing our commitment to sustainability. In the last 5 years alone, we have
successfully delivered 14 projects with a built-up area of approximately 15 mn sft,
featuring Gold and Platinum certifications.
Some of the notable Prestige projects that have been certified as Green Buildings are:
• Prestige Cyber Towers, Chennai - Platinum
• Prestige Tech Pacific, Bengaluru- Gold
• Prestige Technopolis, Bengaluru - Platinum
• Prestige Technostar, Bengaluru-Platinum Wefirmlybelievethat aligning
environmental consciousness with responsible practices is essential to making a meaningful
impact. To achieve this, we have implemented sustainable features across our projects that
enhance the quality of life, including smart systems that reduce power consumption,
advanced technologies for efficient water use, and integrated waste management practices.
Looking Ahead
With a dedication to excellence and a clear vision, Prestige is poised for success,
ready to embark on an even more promising journey of growth and prosperity. We have
entered new markets, broadened our portfolio, and have a strong lineup of exciting
projects ahead. The road ahead is filled with exciting opportunities, and with our
strategic vision and operational prowess, we are well-positioned to seize them.
Best wishes,
Zayd Noaman
Executive Director - CMD's Office
Prestige Estates Projects Limited