Irfan Razack, the man behind the meteoric rise of Prestige Estates Projects, has taken his business beyond its comfort zone to become one of India’s leading real estate groups. With his bold strategy, business acumen and strategic vision, he has built a $6 billion fortune, making Prestige Estates a respected brand in the market.

The Big Move – Entering Mumbai

Five years ago, Irfan Razack made a landmark decision: expanding Prestige Estates into the vibrant but competitive real estate market of Mumbai. This is where industry giants like Lodha’s Macrotech Developers, Godrej Properties and Oberoi Realty converge. Breaking into this market was not easy, especially since Prestige was already familiar with success in South India.

However, despite the challenges, Prestige quickly established itself in Mumbai. The company’s signature falcon logo now appears on billboards across the city, from luxury projects in South Mumbai to central office parks and emerging urban areas in the north. The company currently has 11 projects in Mumbai, totaling about 32 million square feet, scheduled to be completed in phases between 2025 and 2031.

A Risky But Smart Strategy

The secret to Razack’s success lies not only in his foresight but also in his smart approach. He saw opportunities in troubled projects, using his financial leverage to buy projects from developers who were short on cash. At the same time, he built a strong team of experienced professionals who understood the local market.

“We have the market, we have the buyers, we have the brand and we have a management team that can deliver impressive numbers,” Razack shares.

The facts show that. In the financial year ending March 2024, Prestige achieved a record sales of 210 billion rupees ($2.6 billion), with Mumbai contributing 15%, up from nearly 7% two years ago. In the current financial year, sales in Mumbai are expected to increase 54% to 50 billion rupees.

Expanding the Market – From Mumbai to Hyderabad

Not stopping in Mumbai, Irfan Razack continues to expand Prestige Estates beyond its traditional market in South India. In addition to Mumbai, the company is building a strong presence in Hyderabad – one of the fastest growing cities in India.

Persistence, sound strategy and quick adaptation to the market have helped Irfan Razack to make Prestige Estates one of the leading real estate groups in India. With this growth momentum, Prestige has not only continued to expand but also consolidated its position as a trusted real estate brand, continuing to make a strong mark in the market in the years to come.