prestige estates Expansion Chennai New project ₹1,330 Cr

Prestige Estates Projects Limited has announced its latest residential development, Prestige Palm Court, in Madhavaram, North Chennai, located on the Grand Northern Trunk (GNT) Road. 🏗️ KEY PROJECT METRICS 🔹 Land Parcel: 7.98 Acres 🔹 Towers: 5 Towers | Ground + 22 Floors | 2 Basements 🔹 Apartments: 910 Premium Homes 🔹 Configurations: 1, 2 & 3 BHK 🔹 Saleable Area: 641–1,827 sq. ft. 🔹 Total Saleable Area: ~1.38 Million sq. ft. 🔹 Estimated GDV: ₹1,330 Crore 🏙️ WHAT'S HAPPENING? Prestige Palm Court adds a sizeable residential project to Prestige Group's Chennai portfolio, with 910 apartments across a 7.98-acre development. The launch is part of Prestige Group's broader Chennai expansion strategy, with the company planning to launch 3–4 residential developments in the region during the current financial year. As of June 2026, the group had delivered 319 projects covering 216.37 million sq. ft., while its pipeline stood at 139 projects covering 247.16 million sq. ft. 📊 INVESTOR TAKEAWAY The launch is positive for Prestige Estates from a development and future presales perspective, adding an estimated ₹1,330 Cr GDV to its Chennai residential portfolio. However, the headline GDV alone does not represent immediate revenue or profit. The key monitorable will be booking momentum, sales velocity and execution of the project. The planned pipeline of 3–4 Chennai residential launches also highlights the company's continued focus on the region. 🟢 AFS VIEW Project Scale: Strong Chennai Expansion: Positive Revenue Visibility: Positive Near-Term Earnings Impact: To be monitored Strategic Impact: Positive 📌 Key Trigger: Track booking momentum, sales velocity and execution of the Chennai project pipeline. What are your thoughts on the growth potential of North Chennai's residential real estate market? Please conduct your own research or consult a SEBI-registered investment adviser before making investment decisions.