Prestige Office Ventures, the office vertical of Prestige Group, has announced an ambitious office expansion across India’s top metros, aiming for a 30 million square feet (msf) portfolio and annual rentals of ₹3,200 crore by FY28. This strategic move includes large-scale development in Mumbai, Bengaluru, Hyderabad, Chennai, and Delhi-NCR, alongside a bold entry into data centre infrastructure. The plan positions Prestige as a driver of commercial real estate growth in India’s evolving urban landscape.
Expansion Pipeline: Scale & Locations
Prestige Group is set to operationalise 17–18 msf of new office space by April 2028, with 7.5 msf under construction in Mumbai and another 10 msf in Bengaluru, Hyderabad, and Chennai. Delhi-NCR will soon see further additions beyond the recently completed 0.7 msf Aerocity campus, through upcoming projects in Gurugram and Noida.
Massive Investment & Rental Targets
The Rs 12,000 crore expansion budget will fuel the development of nearly 20 msf new offices, expecting to lift Prestige’s net operating income to ₹3,200 crore per annum by FY28. Office markets such as Bengaluru’s Outer Ring Road already command over ₹100 per sq ft, with Grade-A rentals rising to $1.20–$1.50 psf.
Data Centres: A New Growth Frontier
Prestige Group is diversifying its portfolio, entering the data centre business by leveraging its core real estate strengths. Landmark deals include a 100 MW data centre for NTT in Bengaluru and an MoU with Maharashtra to deliver data centre shells near Pune for hyperscalers like AWS and NTT. Project timelines are forecast for completion within 3–5 years.
Surging Office Demand Drives Rents Higher
Strong demand from global capability centres (GCCs), technology firms, and large domestic corporates is driving up rentals in prime micro-markets. Office rents in Bengaluru, Hyderabad, and Gurugram are expected to rise 15–20% in the coming year, as consolidation and preference for energy-efficient, premium workspaces intensify.
Prestige Group: A Key Market Mover
Prestige Office Ventures’ aggressive pipeline, strategic portfolio mix, and adaptability to new asset classes (data centres) have positioned the brand as a cornerstone of India’s next phase of commercial real estate development. The group’s diversified approach is attracting national attention and defining trends in the office segment.
The FlexInsights Take
Prestige Group’s Rs 12,000 crore office expansion sharpens India’s spotlight on flexible premium workspaces and digital infrastructure. Their entry into data centres shows market-savvy diversification, while rental growth promises healthy returns for commercial landlords. For corporate occupiers and global firms targeting Indian markets, such pipeline breadth signals more choice in energy-smart, consolidated offices across metros. Expect Prestige’s moves to spur both investment and innovation in office real estate well into FY28.
