Prestige Estates Unveils Rs 1,330 Crore Residential Project in Chennai

Estimated GDV of Rs 1,330 crore across 1.38 million square feet of saleable area.
New development features 910 premium apartments spread across five towers in Madhavaram.

Reader Takeaway: New project adds significant inventory in a key growth market, supporting long-term revenue targets.

What just happened

Prestige Estates Projects has launched a new residential project, 'Prestige Palm Court,' in Madhavaram, North Chennai. The development sits on 7.98 acres of land and comprises five towers, each rising to 22 floors with two basement levels. The project offers a mix of 1, 2, and 3-bedroom configurations, with unit sizes ranging from 641 to 1,827 square feet. The company expects the project to generate a gross development value (GDV) of Rs 1,330 crore.

Why this matters

This launch serves as a tangible indicator of the group's execution capabilities in the Chennai market. By targeting a significant GDV in a developing micro-market, Prestige Estates is strengthening its presence in South India. The launch aligns with the company’s stated intent to roll out three to four residential projects in the region during the current financial year.

Portfolio Overview

As of June 2026, the company holds a strong operational track record. The group has successfully delivered 319 projects covering 216.37 million square feet. Furthermore, the active development pipeline is robust, currently consisting of 139 projects totaling 247.16 million square feet.

What to track next

Investors should monitor the booking velocity for this new launch, as it will signal demand trends in the North Chennai corridor. Additionally, tracking the remaining project launches scheduled for the year against the management guidance will be essential to evaluate the company's ability to sustain its current growth momentum.