Prestige Shifts Focus to Mid-Income Housing

Prestige Group is scaling up its emphasis on mid-income housing to power sales volumes, while still serving the luxury segment in India's robust real estate landscape. The Bengaluru developer aims for residential sales of Rs.27,000 crore in FY26, from Rs.17,023 crore in FY25, with the strength of a robust launch pipeline across cities.

"High-end projects have specialized buyers. But I think it is mid-income housing projects that are generating high sales volumes," said Irfan Razack, Chairman and MD, Prestige Group. "We have a large launch pipeline, good mix of products for various types of buyers.”

Prestige led listed developers in Q1 FY26 with sales of Rs.12,126 crore, driven by high-ticket launches and robust demand within the NCR.

Key highlights:

• Prestige Group aims for Rs.27,000 crore residential sales in FY26, up from Rs.17,023 crore in FY25, driven by a strong pipeline of mid-income housing projects
• The company is expanding its presence in suburban Mumbai and Bengaluru with more affordable units priced between Rs.1.5 to 1.8 crore to meet growing demand
• Alongside mid-income homes, Prestige is launching major projects like The Prestige Place in Mumbai's Worli and Rs.3,500 crore worth of plotted developments across South India

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Although luxury developments such as Nautilus in Mumbai saw good traction, Razack highlighted the group's shift towards more budget-friendly options.

In suburban Mumbai’s Dahisar, Prestige plans to launch smaller apartments priced at Rs. 1.7 to 1.8 crore. “In Mumbai, where approval costs are high, it is tough to build and sell anything below that,” Razack explained.

In Bengaluru, Prestige will offer Rs.1.5 to 2.5 crore homes at its Raintree Park project, a shift from previous Rs. 4 to 5 crore units.

The company has also initiated several plotted developments of over Rs. 3,500 crore, and is on the lookout for additional land in Bengaluru, Chennai, and Hyderabad. "There is very good demand for plots," Razack said. 

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Prestige is also gearing up for a huge luxury launch in Worli, Mumbai—The Prestige Place—a 17-acre mixed-use development with a Waldorf Astoria hotel.