Prestige Estates Signs JV Deal in Pune for Office Complex

Prestige Estates Signs JV Deal in Pune for Office Complex

Prestige Estates to Develop First Commercial Project in Pune. Prestige Estates Projects, a Bengaluru-based real estate firm, is venturing into Pune with a new commercial project. Prestige Estates has Signed a JV Deal in Pune for  the Office Complex.

• Project Details:
  • Investment: Rs 350 crore (approx.)
  • Size: 1 million sq ft office complex
  • Timeline: Completion in 3 years
  • Partner: Local firm (name not disclosed)

Significance:

• Marks Prestige’s first project in Pune.
• Expands their existing portfolio of 107 office complexes (33 million sq ft).

Other Company Highlights:

• Achieved strong sales bookings (over Rs 1,000 crore) in Q1 of FY20 despite slow market demand.
• Launched three new projects (total developable area: 6.57 million sq ft) in Q1.
• Delivered four projects (total area: 10.33 million sq ft) in Q1, including three housing projects with 3,892 units.
• Currently constructing 48 projects (nearly 50 million sq ft) across verticals.
• Has 36 projects in the pipeline with a development potential of 55 million sq ft.
• Entering Delhi-NCR market with a housing project in Noida (investment: Rs 500 crore) in partnership with Ace Group.

Overall, this expansion reflects Prestige’s continued growth and diversification in the Indian real estate market.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in