The Prestige Group is poised to make a significant impact on India’s hospitality landscape with its upcoming INR 3,500 crore IPO. In a recent interview with a news channel the real estate giant revealed that the proceeds from the IPO will be primarily utilised to eliminate the hospitality division’s debt, setting the stage for future acquisitions and expansions. This strategic financial maneuver is expected to free up substantial capital, enabling aggressive growth in a sector Irfan Razack, Chairman and Managing Director of the Prestige Group, believes holds immense potential.
“Our focus is on delivering world-class hospitality experiences while leveraging strategic locations to maximise growth,” said Razack. “The IPO is not just a financial milestone but a step toward redefining Prestige’s position in the Indian hospitality sector.”
The decision to clear existing debt will provide the Prestige Group with greater financial flexibility, allowing them to pursue new opportunities and further solidify their presence across key urban centers and high-demand tourist destinations. This IPO signals a strong commitment from Prestige Group to expand its luxury and business hotel portfolio, which currently includes partnerships with leading global brands like Marriott International and Hilton. The move is anticipated to enhance their capacity for larger-scale projects and acquisitions.
One of Prestige Group’s flagship projects is the Delhi Aerocity hotel, poised to be the largest in India by room count. This ambitious development will feature the St. Regis and Marriott Marquis brands, complemented by a 225,000 sq. ft. convention and exhibition center. The project underscores Prestige’s commitment to blending luxury and functionality, targeting both business and leisure travelers.
As of December 2024, the Prestige hospitality portfolio includes seven operational hotels with 1,445 keys, featuring prominent properties like JW Marriott Bengaluru Prestige Golfshire, Conrad Bengaluru, and Sheraton Grand Hotel & Convention Centre in Whitefield. Additionally, 12 projects are under various stages of development across major urban and tourist hotspots such as Goa, Mumbai, Bengaluru, Hyderabad, and Chennai. Noteworthy among these is the Morjim, Goa project, which combines a Marriott-managed hotel with luxury residences on a sprawling 75-acre estate.
