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Eye on acquisitions, Prestige Estates plans to foray into NCR, Mumbai, Pune

Prestige and its partners expect to have rental income of Rs 10 billion in FY19

Irfan Razack, chairman and managing director, Prestige Estates
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Irfan Razack, chairman and managing director, Prestige Estates

Raghavendra Kamath Mumbai
Prestige Estates plans to become a pan-India office property developer, to take advantage of the booming segment and its large client base.

The Bengaluru-based developer is looking to enter several cities, such as those in the National Capital Region (NCR), Mumbai and Pune, among others, says Irfan Razack, chairman and managing director.

Recently, Singapore-based sovereign fund GIC signed a term sheet with Prestige to buy a stake in the subsidiary of the latter which owns assets of eight million sq ft.  Prestige is also set to start an 800,000 sq ft information technology (IT) park in Pune and had started