Real estate developer Prestige Estates Projects Ltd has acquired a 25-acre land parcel in Chennai to develop a large-scale residential project with an estimated revenue potential exceeding Rs 50 billion. The company said the land is located in Medavakkam, a fast-growing residential corridor in the city.

In a regulatory filing, Prestige Estates stated that the acquired parcel offers a development potential of around 5 million square feet, positioning the project as a significant addition to its residential portfolio. The planned development is expected to capitalise on sustained housing demand in Chennai and contribute meaningfully to the company’s future revenue pipeline.