Prestige Estates signs agreement to buy 16.38-acre land parcel in Chennai

Realty firm Prestige Estates Projects Ltd on Thursday (January 8) has signed an agreement to purchase a 16.381-acre land parcel in Padi, Chennai, through Canopy Living LLP, a joint venture between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd.The land parcel is located in close proximity to Anna Nagar, one of Chennai’s established residential micro-markets. The area is known for its strong social infrastructure, connectivity and mature residential character, making it a key urban location for residential development.
The acquisition aligns with Prestige Group’s strategy of strengthening its presence in high-quality urban locations while following a disciplined approach to capital allocation.
Also Read: Prestige Estates acquires 25-acre land parcel in Medavakkam to expand Chennai presencePrestige Group said it continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development plans.

Second Quarter ResultsPrestige Estates Projects reported a net profit of ₹430 crore for the quarter ended September 2025, up 124% year-on-year from ₹192 crore in the same period last year.

Revenue for Q2 FY26 increased 5.5% to ₹2,431 crore from ₹2,304 crore in Q2 FY25. EBITDA grew 44.2% year-on-year to ₹910 crore from ₹631 crore in the corresponding quarter of the previous year. The company’s EBITDA margin expanded to 37.4% from 27.4% in Q2 FY25.

Also Read: Prestige Estates shares have further upside on pan-India push, strong execution: Nomura

For the half year ended September 30, 2025 (H1 FY26), Prestige Estates Projects reported a 16.15% year-on-year rise in revenue to ₹5,166.5 crore. EBITDA grew 30.52% to ₹2,231.1 crore, resulting in an EBITDA margin of 43.18%. Profit after tax increased 42.13% to ₹769.8 crore, with the PAT margin improving to 14.9%.

Shares of Prestige Estates Projects Ltd ended at ₹1,583.80, down by ₹35.70, or 2.20%, on the BSE.