Prestige Estates Projects Ltd has signed a joint development agreement for a land parcel measuring 17.212 acres in Sector 92, Gurugram. The deal involves development rights rather than an outright land purchase, with the company partnering the existing landowner.
The announcement was made through a regulatory filing dated April 1, 2026. The project is positioned as part of the company’s expansion in the National Capital Region (NCR).
The proposed residential development is to offer a saleable area of around 3 million square feet. The estimated gross development value of the project stands at approximately ₹4,200 crore.
The scale places it among the larger planned housing projects in the micro-market, reflecting continued supply additions in Gurugram’s residential segment.
The site is located in Sector 92, with access to the Dwarka Expressway. The corridor has seen incremental improvements in connectivity, linking the area with business districts and other parts of NCR.
Residential demand in the surrounding sectors has been supported by infrastructure progress and ongoing development activity, particularly in peripheral areas of Gurugram.
The land is owned by Sare Gurugram Pvt Ltd, a joint venture of Eka-KGK-Dhoot. Under the agreement, Prestige will undertake project execution, while the landowner remains part of the development structure.
Such arrangements are commonly used to expand project pipelines without large upfront land acquisition costs, while distributing risk between partners.
As of December 2025, Prestige Group has completed 313 projects spanning 206 million square feet. Its ongoing pipeline comprises 128 projects covering about 195 million square feet across multiple cities.
The Gurugram project adds to its residential presence in NCR, where the company has been increasing its exposure in recent years.
Read More: Prestige Estates Projects Share Price in Focus as Company Acquires ₹5,000 Crore Chennai Land Parcel!
As of April 2, 2026, at 10:33 am, Prestige Estates Projects Limited share price was trading at ₹1,097.70, down 4.12% from the previous closing price.
The addition of the Sector 92 project increases Prestige’s development pipeline in NCR, with the project size and location aligning with ongoing activity in Gurugram’s residential market.
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Published on: Apr 2, 2026, 10:57 AM IST
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