Prestige plans mixed-use project in Hyderabad

The Prestige Group will build a mixed-use project on a 14 acre land parcel which bought in Hyderabad's Kokapet area for ₹200 crore, said chief executive Venkat K. Narayana. It will build around 1.6 million sq ft of mid-income homes as part of the residential project and another 1.8 million sq ft of commercial space. The company has a strong presence in Hyderabad, second only to Bengaluru. In October this year, Prestige and real estate firm DB Realty entered into a 50:50 joint venture to develop a mixed-use project spread across 7.7 acres in Delhi's Aerocity. In 2019-20, Prestige has already launched 7.88 million sq ft of residential, office and retail projects and has a pipeline of 18.9 million sq ft of upcoming launches in Bengaluru, Noida, Mumbai and Hyderabad.