Prestige Group Strengthens Retail Presence with New Mall Portfolios
Bangalore-based listed real estate developer Prestige Group has 8 million sq ft of malls under construction in Delhi, Bangalore, Mumbai, Chennai and Hyderabad. All the malls under construction will be operational by 2028 to 2029. They have launched a lot of projects in the housing sector, too, especially their new launch project, “Prestige Southern Star” in Bangalore has a lot of demand.
In 2025, Prestige Group’s mall in Mulund of Mumbai and Indirapuram of Delhi is awaiting RERA approvals. In Mumbai's Mulund, a 2 lakh sq ft mall is planned with over 25 restaurants. In Delhi NCR, a 1 million sq ft mall is planned.
Muhammed Ali, CEO of Prestige Group's retail area, confirmed that Prestige Group has sold 4.4 million sq ft of retail space in 7 shopping malls for about ₹9,000 Crores in 2021. They hold a 15 per cent share in malls now. They sold two-thirds of retail business to Nexus Malls, backed by private equity company Blackstone, in June 2023.
Prestige Group’s malls in the pipeline
- Prestige Group has planned to launch 3 malls in Hyderabad.
- They have a land parcel in Goa, and are planning for a 6 lakh sq ft mall with food.
- In Bangalore, the Group is building a 1 million sq ft mall in Whitefield.
- They are developing a 1 million sq ft mall in Chennai’s OMR. It is designed to be part of a premium 5-star hotel
- In north Bengaluru, they are working on an 8 lakh sq ft mall with athleisure. It will have lakh sq ft of sportswear with all the top sports brands, 2.5 lakh sq ft of food and 2.5 lakh sq ft of gaming area. The mall is operational from the 1st quarter of 2027. It will mark the first mall with premium sports brands under one roof in India.
- Another upcoming mall in Banjara Hills in Hyderabad will be standalone. It will be small in size compared to the other malls.
Most of the malls in the above pipeline will be a part of an integrated township or any hotel property. Integrated malls help with rising land costs in prime areas. To maximise the floor space index, Prestige Group is building vertical developments.
