The Prestige Group has forayed into Kozhikode, Kerala, to launch its first residential project with a potential revenue of Rs 1,200 crore. The project called 'Prestige Ocean Pearl', as part of footprint expansion in Kerala will be handed over in May 2027.

Spanning over 1.5 million sq. ft. (msf) the project entails an investment of Rs 800 crore. The project comprises 530 luxury units in a mix of three-bedroom and four-bedroom formats spread across four towers with a ticket size of Rs 1.7-2.5 crore. With 28 floors, it is one of the largest projects in the Beach Road area.

The project is being built in joint development with Westend Avenue, and the site offers a well-developed social infrastructure with multiple schools, hospitals, and retail spaces in the area. It also has excellent road connectivity to the city. As Kozhikode is one of the trading hubs in the state, the developer expects to draw high networth individuals (HNIs) and NRIs. Around 2.5 msf of projects are currently ongoing in the state.

Prestige Ocean Pearl offers multiple leisure amenities including multipurpose hall, a gym, an infinity swimming pool, indoor games and a clubhouse. Sustainable features includes rainwater harvesting systems, solar power for common area lighting, and provision for EV charging stations.

In November, the company launched Prestige Glenbrook in Bengaluru. Towards the last quarter of FY24, it is looking to launch more residential projects with a sales value of Rs 600 crore. It is also looking to launch an 80-acre plotted development launch in Bengaluru, as well as another one in north Bengaluru.

In north India, the company is planning to expand its footprint in the NCR region, including Noida, Delhi and Gurugram.