Prestige Group has finalised a landmark acquisition by securing an 11-acre land parcel in Hyderabad’s Knowledge City for ₹1,556.5 crore, establishing a national record for commercial real estate pricing, as per the news reports. This move highlights the increasing demand for premium office spaces in tech-driven regions like HITEC City.
On October 6, 2025, Prestige Group won a high-stakes auction held by the Telangana Government, obtaining 11 acres in Raidurg, part of Hyderabad’s Knowledge City. The price touched ₹141.5 crore per acre, making it the most expensive land transaction in the city's history. This location, adjacent to HITEC City and Gachibowli, is witnessing sharp rental growth and minimal vacancy rates.
The Telangana State Industrial Infrastructure Corporation (TSIIC) conducted the auction, which fetched a record ₹3,135 crore from just 2 high-value land parcels. Prestige Group’s acquisition is positioned amid Hyderabad's transformation into a global hub for tech and services, drawing increasing interest from top-tier multinational corporations and Global Capability Centres (GCCs).
Hyderabad’s commercial zones, especially HITEC City and surrounding areas, are experiencing a rental surge of 20-30% year-on-year. Rental prices in top office areas have reached ₹100-₹150 per square foot, reflecting strong leasing interest and limited supply. GCCs are driving this demand due to the city's robust infrastructure and skilled talent pool.
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Prestige Office Ventures, the office development arm of Prestige Group, plans to expand its office portfolio to 30 million sq ft by April 2028. With over 17 million sq ft under construction across Mumbai, Bengaluru, Hyderabad, and Chennai, the firm targets an annual rental income of ₹3,200 crore by December 2028.
On October 7, 2025, Prestige Estates Projects share price opened at ₹1,541.50 on NSE, above the previous close of ₹1,541.30. During the day, it surged to ₹1,551.50 and dipped to ₹1,530.90. The stock is trading at ₹1,536.60 as of 10:39 AM. The stock registered a marginal change of -0.30%.
Over the past week, it has declined by 0.36%, over the past month, it has declined by 0.40%, and over the past 3 months, it has declined by 5.65%.
Prestige Group’s ₹1,556 crore investment in Hyderabad’s Knowledge City represents a strong vote of confidence in the city’s commercial potential. As the demand for premium office space continues to escalate, this acquisition positions Prestige at the centre of Hyderabad’s growing business ecosystem.
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Published on: Oct 7, 2025, 3:31 PM IST
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