Prestige Estates Projects has planned a substantial capital expenditure plan of Rs 8,000-10,000 crore over the forthcoming two to three years to enhance its portfolio in West India, particularly concentrating on the Mumbai Metropolitan Region (MMR) and Pune.
The firm has already initiated residential projects valued at Rs 25,000 crore in MMR, with six projects currently in progress covering an area of 8.81 million sq. ft. (msf). In Pune, Prestige possesses a 50-acre land parcel and is actively seeking new opportunities.
CEO Tariq Ahmed emphasized the potential for more than 15 new projects within the next two years, with the objective of achieving a balance between residential and commercial development.
The West India division of the company accounts for 20 percent of its total revenue, and the company is also interested in redevelopment initiatives, which include slum rehabilitation and society redevelopment. Its strategic focus encompasses micro-markets in Thane, Navi Mumbai, Goregaon, Borivali, and Andheri.
