Prestige Group to buy TVS’ Anna Salai land for Rs 600 cr
Real Estate

Prestige Group to buy TVS’ Anna Salai land for Rs 600 cr

Prestige Group plans to buy a prime land parcel in Tamil Nadu stretching from Anna Salai to White's Road from Sundaram Motors of the TVS Group for Rs 550-600 crore.

A combination of retail and commercial Grade-A office space might be developed on the 89-ground plot, connecting Anna Salai to White's Road.

Other developers for the land parcel who participated are Bridge, Purvankara and Embassy, but lost to Prestige Group in the all-cash deal. It will take around 18-24 months to develop the 2.14 lakh sq ft plot.

Sources told the media that Sundaram Motors plans to sell or develop many prime land parcels in Tamil Nadu.The plots include a large plot near Poonamallee and premium property in Madurai and Trichy.

The industry experts have maintained a group of southern developers that have shown interest in the Poonamallee land parcel and other plots of the company.

Sources said these interested developers are backed by some big multinational companies (MNCs) funds. The MNC funds like Blackstone have picked up assets worth over Rs 7,000 crore from Prestige Group. Like the Anna Salai plot deal, other deals will also be all-cash deals.

Image Source

Also read: Prestige Group signs civil contract with L&T worth Rs 1,560 cr

Prestige Group plans to buy a prime land parcel in Tamil Nadu stretching from Anna Salai to White's Road from Sundaram Motors of the TVS Group for Rs 550-600 crore. A combination of retail and commercial Grade-A office space might be developed on the 89-ground plot, connecting Anna Salai to White's Road. Other developers for the land parcel who participated are Bridge, Purvankara and Embassy, but lost to Prestige Group in the all-cash deal. It will take around 18-24 months to develop the 2.14 lakh sq ft plot. Sources told the media that Sundaram Motors plans to sell or develop many prime land parcels in Tamil Nadu.The plots include a large plot near Poonamallee and premium property in Madurai and Trichy. The industry experts have maintained a group of southern developers that have shown interest in the Poonamallee land parcel and other plots of the company. Sources said these interested developers are backed by some big multinational companies (MNCs) funds. The MNC funds like Blackstone have picked up assets worth over Rs 7,000 crore from Prestige Group. Like the Anna Salai plot deal, other deals will also be all-cash deals. Image Source Also read: Prestige Group signs civil contract with L&T worth Rs 1,560 cr

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement