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Prestige Group announced the launch of its newest residential project – Prestige Pallavaram Gardens, strategically located on the Pallavaram–Thoraipakkam Radial Road in Chennai.
Set across 21.84 acres, the project features a thoughtfully planned mix of 2,069 premium apartments in 2, 3, and 4 BHK configurations, offering a total saleable area of 3.1 million square feet. With a Gross Development Value (GDV) of Rs 3,350 crore, the development is poised to become one of the marquee residential communities in the region.
The project is designed to deliver an elevated lifestyle experience, centered around a 65,000 sq. ft. clubhouse that includes two swimming pools, wellness zones, fitness areas, and multiple recreational and social spaces for residents of all age groups.
Located just minutes away from Chennai's prominent commercial hubs, IT parks, educational institutions, and healthcare facilities, Prestige Pallavaram Gardens combines unmatched connectivity with tranquil, well-planned living spaces. Its location on the fast-developing Pallavaram Thoraipakkam Radial Road offers residents excellent access to the city's key transit routes and economic centers.
The acquisition will be undertaken through their joint venture entity, Canopy Living LLP.
The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated gross development value (GDV) of over Rs 1,600 crore.
Located in one of Chennai’s most prominent and well-connected neighbourhoods, the site benefits from excellent access to IT corridors, social infrastructure, and thriving residential communities.
Irfan Razack, chairman and managing director of Prestige Group, said: 'Chennai continues to be an integral part of our national expansion strategy, and this upcoming acquisition in Velachery marks another step in our journey to deliver landmark residential developments.
Our partnership with Arihant in the region reflects a shared vision to develop high-quality, thoughtfully designed communities that resonate with evolving urban lifestyles.'
Prestige Group is one of India’s most respected and diversified real estate developers, with a legacy of over three decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. The Group has delivered 302 projects spanning 193 million square feet and currently has a pipeline of 130 projects across 203 million square feet.
The scrip fell 1.90% to end at Rs 1666.70 on the BSE on Friday.
Prestige Group and Arihant Group, a reputed Chennai-based real estate company, have entered into an agreement to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai from Rane Madras. The acquisition will be undertaken through their joint venture entity, Canopy Living LLP.
The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated Gross Development Value (GDV) of over Rs 1,600 crore.
Located in one of Chennai's most prominent and well-connected neighbourhoods, the site benefits from excellent access to IT corridors, social infrastructure, and thriving residential communities—making it a compelling location for high-end urban living.
Oberoi Realty Ltd rose 1.3% today to trade at Rs 1820. The BSE Realty index is up 0.58% to quote at 7672.48. The index is up 11.69 % over last one month. Among the other constituents of the index, Prestige Estates Projects Ltd increased 1.11% and Macrotech Developers Ltd added 0.79% on the day. The BSE Realty index went up 0.44 % over last one year compared to the 12.07% surge in benchmark SENSEX.
Oberoi Realty Ltd has added 12.03% over last one month compared to 11.69% gain in BSE Realty index and 0.02% drop in the SENSEX. On the BSE, 1162 shares were traded in the counter so far compared with average daily volumes of 25211 shares in the past one month. The stock hit a record high of Rs 2349.8 on 27 Dec 2024. The stock hit a 52-week low of Rs 1440.05 on 07 Apr 2025.
For the full year,net profit declined 65.98% to Rs 467.50 crore in the year ended March 2025 as against Rs 1374.10 crore during the previous year ended March 2024. Sales declined 6.70% to Rs 7349.40 crore in the year ended March 2025 as against Rs 7877.10 crore during the previous year ended March 2024.