03 Sep , 2026 By : Debdeep Gupta
Prestige Estates Projects shares jumped over 3 percent in late-morning trade on Thursday after the real estate developer announced the addition of a 17.14-acre land parcel in Gurgaon to its residential development portfolio, with an estimated gross development value (GDV) of around Rs 5,600 crore.
The Prestige Estates stock was trading around Rs 1,636, up 3.4 percent, and was among the top gainers on the Nifty Midcap index. The stock has gained 1.9 percent so far in 2026, compared with an 8.5 percent decline in the Nifty 50. The company's market capitalisation stood at around Rs 70,500 crore.
The broader realty pack was also buoyant, with the Nifty Realty index gaining 2.58 percent to emerge as the top sectoral gainer.
Prestige Group said the 17.14-acre land parcel is located in Sector 109, Gurgaon, with connectivity to the Dwarka Expressway and key residential, commercial and social infrastructure across Gurgaon and Delhi.
The proposed residential project will have a saleable area of approximately 2.8 million square feet and an estimated GDV of around Rs 5,600 crore. The addition strengthens Prestige's presence in the National Capital Region and adds scale to its residential development pipeline in northern India.
Prestige Group Chairman and Managing Director Irfan Razack said the company was steadily building scale and depth in the NCR after entering the region's residential market last year. The developer has a portfolio of projects planned across the NCR in FY27 and expects the region to become an increasingly important contributor to its sales trajectory.
The announcement comes as Prestige continues to expand its development pipeline. As of June 2026, the group had delivered 319 projects spanning 216 million square feet and had a pipeline of 137 projects covering 229 million square feet.
The gains in Prestige Estates also came amid a positive broader market. At 11:42 am, the Sensex was up 197 points, or 0.26 percent, at 76,767.61, while the Nifty 50 gained 52 points, or 0.22 percent, to 23,966.40. Market breadth was positive, with 2,382 shares advancing against 1,293 declining.
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