Arihant & Prestige Join Hands for Landmark Chennai Project

Arihant Foundations has teamed up with Prestige Group to acquire a 3.48-acre plot in Velachery, Chennai—an area known for its growing real estate value thanks to its proximity to IT hubs and strong connectivity. Through their joint venture, Canopy Living LLP, the two developers plan to launch a premium residential project with an expected development of around 7.5 lakh square feet. The project’s estimated GDV is over ₹1,600 crore, making it one of the bigger upcoming plays in South Chennai. outlook: With solid experience across Chennai’s real estate landscape, Arihant seems to be shifting gears by partnering with bigger players and entering high-value zones. This collaboration could be a major value unlock, both in terms of top-line growth and brand positioning. Financially, the company has delivered strong returns over the past few years and is trading at a more reasonable valuation compared to sector peers. All signs point toward long-term value creation, especially if execution stays on track.