Prestige Group Inks Agreement to Buy 16.38-Acre Land Parcel in Chennai

Prestige Estates Projects Ltd has signed an agreement to purchase a 16.38 acre land parcel in Padi, Chennai.  

The acquisition is being carried out through Canopy Living LLP, a joint venture between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd. The company disclosed the transaction to stock exchanges on January 8, 2026 . 

Site Location 

The land parcel is located in Padi, a locality situated close to Anna Nagar, a long-established residential area in Chennai.  

Padi has existing residential developments and access to basic social infrastructure such as schools, healthcare facilities and retail centres. The area is connected to other parts of the city through arterial roads and has seen steady residential use over time. 

Context of the Acquisition 

Prestige Group stated that the purchase is part of its broader land acquisition programme in urban locations. The company said it continues to review land parcels across major markets for future residential and mixed-use projects.  

No details were provided on the size of the proposed development, construction timelines or capital outlay for the Padi land. 

Prestige Estates Quarterly Financial Performance 

For the quarter ended September 2025, Prestige Estates Projects reported a net profit of ₹430 crore, compared with ₹192 crore in the same quarter last year.  

Revenue for the period increased to ₹2,431 crore from ₹2,304 crore a year earlier. EBITDA rose to ₹910 crore from ₹631 crore. EBITDA margin expanded to 37.4% from 27.4% in the year-ago quarter. 

Half-Year Results 

For the half year ended September 30, 2025, the company reported revenue of ₹5,166.5 crore, up 16.15% year-on-year.  

EBITDA increased to ₹2,231.1 crore, while profit after tax stood at ₹769.8 crore, compared with the previous year’s period. The EBITDA margin for the half year was 43.18%, and the profit margin improved to 14.9%. 

Prestige Estates Projects Share Price Performance  

As of January 9, 2026, 9:42 am, Prestige Estates Projects share price was trading at ₹1,550.40, a 2.45% down from the previous closing price. 

Read More: Balaji Amines Share Price Gains Over 12% After Securing Eligibility Certificate for Incentives Scheme! 

Conclusion 

The land purchase in Padi expands Prestige Estates’ presence in Chennai, alongside the company’s reported financial performance for the September 2025 quarter and half year.  

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