Prestige Estates Shares Gain Over 3% After Unveiling ₹5,600 Crore Residential Project in Gurgaon

Prestige Estates Projects saw gains of over 3% for Thursday's trading session following an announcement from the real estate developer of the acquisition of a 17.14-acre plot of land in Gurgaon. This new project is projected to have a gross development value of about ₹5,600 crore. 

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The stock price was trading at about ₹1,636, which is a 3.4% increase and one of the biggest gainers on the Nifty Midcap index. Despite the progress that is being made currently, the stock price of Prestige Estates has registered an increase of 1.9% from the beginning of the year 2026, while the Nifty 50 has witnessed a fall by 8.5%. The market capitalization of the firm is around ₹70,500 crore. 

This latest land acquisition is located in Sector 109, Gurgaon, with access to Dwarka Expressway and infrastructure present within Gurgaon and Delhi cities. The project, according to the company, would have a saleable area of nearly 2.8 million sq. ft. with a GDV of about ₹5,600 crores. 

The management of Prestige Estates has stated that the new project will help the company improve its footprint in the NCR and provide scale to their residential development projects in the North of India. 

Talking about the expansion, Irfan Razack, Chairman & Managing Director, Prestige Group, has stated that the company has gradually developed a scale in the NCR region since the company started its operations in the residential segment of the NCR region last year. He added that several projects are planned across the NCR during FY27 and that the region is expected to become an increasingly important contributor to the company's sales growth. 

Until June 2026, the Prestige Group had completed 319 projects totaling 216 million square feet and had 137 projects totaling 229 million square feet in its project pipeline. 

The increase in the shares of Prestige Estates took place on the back of gains for the entire real estate sector. The Nifty Realty index rose by 2.58% to become the best performing sectoral index of the day. 

The overall market too saw gains. By 11:42 am, the Sensex was higher by 197 points or 0.26% to 76,767.61 and the Nifty 50 had risen by 52 points or 0.22% to 23,966.40. The overall market breadth stood favorable with 2,382 stocks rising against 1,293 falling.