Prestige Estates Expands Chennai Footprint with 16.38-Acre Land Deal, Reports Strong Q2 Profit

• Prestige Estates acquired a 16.38-acre land parcel in Padi, Chennai, through a JV with Arihant Foundations & Housing Ltd for residential development.
• The land, located near Anna Nagar, is strategically important due to its strong social infrastructure and connectivity.
• This acquisition aligns with Prestige Group’s strategy to strengthen its presence in high-quality urban locations.
• The company reported a 124% YoY rise in Q2 FY26 net profit to ₹430 crore, with revenue increasing 5.5% to ₹2,431 crore.
• Prestige Estates' shares closed down 2.20% on the BSE following the announcement.

Why It Matters: Prestige Estates expands Chennai presence with new land acquisition, reports strong Q2 profit growth.