Prestige Estates Projects is sitting on one of the biggest land pipelines in Indian real estate, worth Rs 80,000-90,000 crore, and is gearing up to fire off close to Rs 60,000 crore in fresh project launches this year, Chairman and Managing Director Irfan Razack announced while in conversation with NDTV Profit.
He, however, was careful to distinguish land banking from land hoarding, insisting Prestige moves fast to convert acquisitions into revenue rather than letting parcels sit idle.
"We do not touch land just to buy it and keep it because that I believe is a drag on the balance sheet. We like to convert whatever we do as quickly as possible, bring it to the market and also get into the revenue," he said, describing the model as the company's guiding principle.
That turnaround, from acquiring land to launching a project, takes nine months at the company's most aggressive course, and no more than 15-18 months even in the ordinary course, Razack said.
Prestige has recently added parcels in Chennai, Hyderabad, Goa and Mumbai to its Bangalore home base, though he stressed every deal is stress-tested first.
"We are not sort of cavalier in the sense we make sure that whatever we buy, whatever we commit, come at proper and decent numbers," he said, calling it "a very careful strategy."
Some launches have already hit turbulence. Four Bangalore projects slated for the previous quarter were delayed on approvals, but Razack said they are now lined up for this quarter, and struck a bullish note on demand more broadly.
"The market is good, there is demand, if the product is in a good location offered at a good number, people are buying. So there's no issue on that. The only issue is how quickly can we get the product to the market," he said.
The land pipeline wasn't the only big number on the table.
Razack also flagged that Prestige is sitting on Rs 65,000 crore of unrecognised revenue — sales already contracted with customers but yet to hit the P&L, pending project completion under accounting norms.
"There is a lot of revenue that is there which is not being seen. And the investors also need to understand that... and that's where the profits are," he said, calling the figure "a pot of gold at the end of the rainbow."
That number is split across Bangalore (over Rs 30,000 crore), Mumbai (nearly Rs 15,000 crore) and Hyderabad (over Rs 11,000 crore), and follows record FY26 pre-sales of almost Rs 30,000 crore.
For FY27, Razack said Prestige is targeting pre-sales of Rs 36,000-37,000 crore, with both pre-sales and collections projected to grow 15-20%.
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