Archive · 6 Oct 2026
Prestige Estates Targets Rs 4,000 Crore Rental Income by FY30
Prestige Estates is a company that builds homes, offices, and hotels.
Its chairman, Irfan Razack, says the company is building many new commercial properties.
He expects rent from those properties to grow from about Rs 860 crore today to more than Rs 4,000 crore by 2030.
The company is also expanding its hotels, with help from a large investment by CPP Investments.
Prestige says buyers have been responding well to some of its new housing projects.
Razack says the company will launch projects when they are ready and approved.
He believes well-designed homes in good locations can still attract buyers, even as more luxury homes enter the market.
He says the West Asia conflict has not caused a major business impact so far.
Prestige Estates says its commercial portfolio of about 35 million square feet under development could lift annual exit rental income from Rs 860 crore to more than Rs 4,000 crore by FY30.
The company’s hospitality business has about 1,445 operating keys and a pipeline of more than 4,000 keys across several Indian markets.
CPP Investments is investing Rs 3,000 crore in Prestige’s hospitality arm for a 27% stake, providing capital to develop its pipeline and consider acquisitions.
Chairman Irfan Razack says recent residential launches have seen strong sales, including more than Rs 3,000 crore in launch-quarter sales for Prestige Golden Grove in Hyderabad.
Razack says the West Asia conflict has not materially affected operations; temporary supply-chain uncertainty has largely eased.
- Who
- Prestige Estates Projects and its chairman and managing director, Irfan Razack; CPP Investments is investing in its hospitality arm.
- What
- Prestige outlined plans to expand its commercial, hospitality and residential businesses, including a goal of more than Rs 4,000 crore in rental income by FY30.
- When
- The rental-income target is for FY30; the interview also discusses the start of FY27 and the approaching festive period.
- Where
- The company’s projects and pipeline span Bengaluru, Mumbai, Delhi/NCR, Kochi, Chennai, Kolar, Hyderabad, Goa and other markets.
- Why
- Prestige says it aims to grow its portfolios by completing projects, using capital efficiently, and pursuing demand for well-located, differentiated developments.
Market concerns
Prestige Estates’ view
Luxury housing supply and demand
Market concerns
Some experts have said luxury projects are oversupplied in Mumbai, Bengaluru and other markets.
Prestige Estates’ view
Razack says demand remains strong for differentiated luxury projects in suitable locations and at appropriate prices; he cites positive responses to Prestige’s projects.
Whether to delay launches
Market concerns
Some developers are calibrating launches because of approval delays and market softness.
Prestige Estates’ view
Razack says Prestige launches projects once approvals are in place and the project is ready, and does not believe current demand warrants holding back launches.
- Current exit rental income
- Around Rs 860 crore
- Rental-income target
- More than Rs 4,000 crore by FY30, after completion of the commercial portfolio
- Commercial portfolio under development
- Around 35 million square feet
- CPP Investments deal
- Rs 3,000 crore investment for a 27% stake in Prestige’s hospitality arm
- Operating hospitality keys
- Around 1,445, currently in Bengaluru
- Hospitality pipeline
- More than 4,000 keys across multiple markets
- Prestige Golden Grove launch-quarter sales
- More than Rs 3,000 crore