Prestige Estates Projects Ltd has confirmed the utilisation of ₹4,579 crore from the ₹5,000 crore Qualified Institutional Placement (QIP) it raised in 2024. The funds were deployed towards land acquisition, construction, and expansion of large-scale residential and mixed-use developments.
The company stated that the remaining ₹471 crore from the QIP proceeds is temporarily parked in deposits until future project utilisation. The fund deployment highlights Prestige Group’s commitment to expanding its national footprint while maintaining transparency and financial discipline.
Among its upcoming projects, the Group has prioritised the launch of Prestige Evergreen in Whitefield, whose EOI is currently open, and Prestige Fernvale and Prestige Eaton Park, both beginning EOIs on December 5th. These projects represent the Group’s strategic reinvestment of capital into Bengaluru’s rapidly growing residential market, catering to both end-users and investors seeking affordable luxury.
The QIP utilisation demonstrates Prestige Group’s focus on strengthening its development portfolio while ensuring liquidity for timely project execution. With expanding demand in the residential sector and its recent financial results showing robust margins, Prestige continues to solidify its position among India’s leading developers.
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