Prestige Group is a top real estate developer based in Bangalore, Karnataka. The Prestige Group owner is Razack Sattar. The company was founded in 1986 and has completed over 285 projects covering more than 170 million square feet. It operates across residential, commercial, retail, and hospitality sectors and employs over 3,000 people. It serves nine major cities in South and West India.

History

Razack Sattar began his career with a fabric and tailoring shop in Bangalore in the 1950s. He founded Prestige Group in 1986, shifting focus from retail to property development. The group’s first project was Prestige Court on Kempe Gowda Road. By 2011, it had delivered 192 projects spanning 64 million square feet. Today, it holds a land bank of around 700 acres for future developments.

Leadership

Irfan Razack serves as chairman and managing director. Rezwan Razack is the joint managing director, overseeing key strategic initiatives. Noaman Razack leads the retail division as director. Independent directors support governance and compliance. The Razack family remains central to the company’s vision and decision making.

Areas Served

Prestige Group operates in Bangalore, Chennai, Kochi, Calicut, Hyderabad, Mumbai, Mangalore, Goa, and Mysore. It maintains a strong presence in both South and West India. Plans are underway to expand into additional cities over the next few years.

Projects

The company has completed more than 285 projects, totalling 170 million square feet of developed space. It currently has 54 ongoing projects covering 75 million square feet. Signature developments include UB City, Prestige Shantiniketan, and Prestige Golfshire. The portfolio spans shopping malls, office parks, hotels, apartments, villas, and integrated townships.

Residential Projects

Prestige Group offers apartments, villas, and townships for diverse customer segments. It delivers both affordable housing and luxury residences. Developments include gated communities and high rise towers. The company also undertakes plotted layouts and row house projects.

Commercial Projects

The group develops modern office spaces and technology parks. UB City stands as one of India’s first luxury mixed use commercial landmarks. To date, it has delivered over 150 million square feet in the commercial sector. Projects cater to multinational corporations, IT firms, and start ups alike.

Retail Projects

Under The Forum brand, Prestige Group builds and manages shopping malls. Key properties include The Forum Vijaya in Chennai and The Forum in Bangalore. In 2012, the company acquired a stake in CapitaLand’s mall business. Its retail portfolio now spans multiple cities and includes modern lifestyle centres.

Hospitality Projects

Prestige Group partners with global hotel brands to develop and operate premium hotels. Collaborations include JW Marriott, Sheraton Grand, and Conrad. The group also owns and manages leisure assets such as the Prestige Golfshire course near Bangalore.

Financials

Annual revenue for Prestige Group Bangalore stands at approximately USD 1.2 billion. The company earns between INR 8,000 crore and INR 10,000 crore each year. Market capitalization is around INR 46,950 crore. Chairman Irfan Razack’s personal net worth exceeds USD 1 billion. The group’s 700 acre land bank underpins future growth.

Certifications

Prestige Group holds ISO 9001 certification. It adheres to stringent quality management and safety standards in all projects.

Awards The company won the Real Estate Excellence Award in 2008. It received the Best Developer Award in 2009. In 2010, it earned the Entrepreneur Extraordinaire Award.

Recent Developments

In June 2024, the board approved raising INR 50 billion through a share issue to monetize hospitality assets. A sub committee was formed to oversee the listing process. JM Financial, JP Morgan, and CLSA were appointed as transaction advisers. The funds will support new hotel and mixed use projects.

Conclusion

Prestige Group stands among India’s foremost property developers. It continues to expand across residential, commercial, retail, and hospitality sectors. With a strong leadership team and substantial land bank, the company plans to launch new projects in existing and emerging markets over the coming years.

Prestige Group pre launch new project is Prestige Autumn Leaves