Prestige Group is realigning its residential strategy to focus on the mid-market housing segment priced between ₹2 crore and ₹3 crore, responding to increasing demand from salaried homebuyers in major Indian cities. The Bengaluru-based developer sees this category as a “sweet spot” for professionals seeking well-located, quality homes with modern amenities.
According to Prestige Group’s Senior Vice President, Praveer Srivastava, the shift is a deliberate response to steady absorption in the mid-income segment, especially in Bengaluru and Hyderabad. While the company’s earlier focus had been on high-end properties such as Prestige White Meadows and Raintree Park, with prices reaching ₹6.5 crore, it is now tailoring its upcoming launches to fit the ₹2–3 crore bracket. The current year’s Bengaluru pipeline includes launches in Whitefield, Bannerghatta Road, and Kanakapura Road, collectively valued at ₹2,000 crore.
At the same time, the company is preparing to re-enter the high-end villa segment with new projects in Bengaluru, Hyderabad, and Goa. In Bengaluru, the villas will be developed as standalone homes, while in Hyderabad they will be part of the larger Prestige City township. In Goa, the group is designing a mix of independent villas and gated communities. These projects are targeted at affluent buyers and will be priced between ₹10 crore and ₹15 crore.
In the plotted development segment, Prestige Gardenia in North Bengaluru, a project offering approximately 800 plots priced at ₹1.5 crore each, is nearing full absorption. Encouraged by this demand, the group is planning to launch ₹1,500 crore worth of new plotted development projects across Bengaluru in the ongoing fiscal year. The company is tapping into the demand for land parcels in planned, infrastructure-ready layouts among buyers preferring custom-built homes.
Looking ahead, Prestige Group has set an aggressive target of achieving ₹50,000 crore in home sales by FY28-29. The group closed FY24 with ₹17,000 crore in sales and expects the current quarter to be its most productive yet. Srivastava confirmed that the company has already launched over ₹10,000 crore worth of projects in Q1 and aims to cross ₹14,000–15,000 crore by the quarter’s end. For the full year, Prestige plans to launch projects with a gross development value (GDV) of ₹50,000 crore across Bengaluru, Hyderabad, Goa, Chennai, Delhi, and Mumbai.
The company is also preparing for geographic expansion beyond its existing footprint. It is now actively evaluating entry into Pune, Gurugram, and Noida—markets where it had not previously ventured. These cities, Srivastava said, are witnessing significant demand for professionally executed, mid-segment housing and present a compelling opportunity for developers with execution capability and brand recognition.
Despite the strategic tilt towards the mid-income market, Prestige Group maintains that it will continue to build marquee luxury developments in prime locations. The company intends to balance scalability with brand aspiration, retaining its identity as a builder of high-end, landmark properties while responding to the broader housing market’s structural demand shifts.
With this multipronged approach, combining volume-driven mid-market projects with selective luxury offerings, Prestige Group is positioning itself to serve a wider spectrum of homebuyers across India’s top cities while targeting sustained growth over the next four to five years.
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