Prestige lines up Rs 15,000 crore of construction spend as it chases Rs 36,000-crore bookings

Prestige Estates Projects plans to invest Rs 14,000-15,000 crore in construction during 2026-27, executive director Zayd Noaman told PTI, with Rs 9,500-10,000 crore earmarked for housing and the balance for offices and malls. The spend spans South India, the Mumbai Metropolitan Region and Delhi-NCR.

Chairman Irfan Razack separately set a pre-sales target of Rs 35,000-36,000 crore for the fiscal, which would be a record. The company closed FY26 with bookings of Rs 30,024 crore, up 76 per cent on the year, making it one of the fastest-growing large developers in the country.

The MMR mention is worth registering. Prestige has been building out a Mumbai portfolio across the mid-to-premium band, and a capex programme of this size signals that the national majors intend to keep competing for land, joint developments and buyers in the region even as quarterly sales volumes cool. For local developers, the cost of land and of standing still both go up.

The usual caveats apply: construction-cost inflation has been running at mid-single digits on dearer raw materials, and targets set in July meet reality across three more quarters. But as statements of intent go, this is an aggressive one.