Introduction
The Prestige Group is one of India's most prominent real estate development firms, known for its luxurious residential, commercial, retail, and hospitality projects. From modern apartments to sprawling IT parks, Prestige Group has left a lasting mark on India's urban landscape. But who is the driving force behind this iconic company? Let’s take a closer look at the owner, his journey, and how he built Prestige Group into a real estate giant.
Who is the Owner of Prestige Group?
The owner and founder of Prestige Group is Irfan Razack, an influential Indian entrepreneur and real estate visionary. He currently serves as the Chairman and Managing Director (CMD) of the Prestige Group, which he co-founded along with his brothers, Rezwan Razack and Noaman Razack.
Name: Irfan Razack
Position: Chairman and Managing Director (CMD) of Prestige Group
Co-founders: Rezwan Razack (Managing Director) and Noaman Razack (Executive Director)
Irfan Razack is regarded as one of the most successful real estate developers in India, with decades of experience in transforming the industry. Under his leadership, Prestige Group has developed some of the most iconic residential, commercial, and retail landmarks in cities like Bengaluru, Chennai, Hyderabad, and Kochi.
About Irfan Razack – Early Life and Career
Irfan Razack was born into a family that had a strong foundation in business. His father, Inayat Razack, was a successful businessman who ran a textile business named Prestige Fashions, which specialized in garments and tailoring. This business served as a stepping stone for the future ventures of Irfan and his brothers.
After completing his education, Irfan decided to diversify the family business and entered the real estate sector. He saw the immense potential for urban development in Bengaluru, which was rapidly emerging as India's IT hub. With a focus on quality, trust, and innovation, Irfan laid the foundation for Prestige Estates Projects Limited, which is now popularly known as Prestige Group.
Key Highlights of His Career
- Visionary Leadership: Transformed Prestige from a textile business into one of India’s most successful real estate conglomerates.
- Iconic Projects: Spearheaded the development of over 270+ projects across urban metros like Bengaluru, Chennai, Hyderabad, and Kochi.
- Awards & Recognition: Recipient of several industry accolades, including "Entrepreneur of the Year" and recognition from real estate and business forums.
How Did Prestige Group Start?
The Prestige Group was founded in 1986 by Irfan Razack and his brothers. The initial focus was on developing quality commercial spaces and retail properties in Bengaluru. Over time, they expanded into residential real estate, luxury housing, malls, and IT parks.
The first major breakthrough for Prestige Group was the development of "Prestige Acropolis", a luxury residential apartment project that became a landmark in Bengaluru. It set a new standard for premium living in the city, and from there, Prestige never looked back.
Today, Prestige Group has developed properties across various sectors, including:
- Residential Projects: Apartments, villas, townships, and gated communities.
- Commercial Spaces: Office spaces, IT parks, and co-working spaces.
- Retail Spaces: Malls like Forum Mall, one of the most famous shopping malls in Bengaluru.
- Hospitality Ventures: Prestige Group owns several hotels and luxury serviced apartments.
The company was listed on the Indian stock market in 2010, making it a publicly traded company under the name Prestige Estates Projects Limited (BSE: 533274, NSE: PRESTIGE).
What Makes Irfan Razack a Successful Entrepreneur?
Irfan Razack's leadership has been crucial in turning Prestige Group into a trusted brand in the Indian real estate industry. Here’s what sets him apart as a business leader:
- Visionary Approach: He recognized early on the potential of real estate development in Bengaluru, especially with the advent of the IT sector. His forward-thinking approach helped Prestige stay ahead of the competition.
- Focus on Quality and Trust: Prestige Group is known for its commitment to quality and timely project delivery. This customer-first approach has helped build trust with homebuyers and corporate clients.
- Innovative Designs: Irfan Razack introduced contemporary design concepts, modern architecture, and world-class amenities in residential and commercial projects.
- Diversification: Instead of focusing solely on residential apartments, Irfan expanded into commercial properties, IT parks, retail malls, and even luxury hospitality.
- Awards and Recognition: Irfan Razack has been featured in industry rankings like "Most Powerful Business Leaders" and "Top Real Estate Entrepreneurs".
Key Milestones of Prestige Group Under Irfan Razack's Leadership
- 1986: Prestige Group was founded in Bengaluru.
- 1990s: Launched Bengaluru’s iconic luxury residential project, Prestige Acropolis.
- 2000s: Prestige entered the commercial real estate space and built IT parks for major corporations.
- 2010: Prestige Group was listed on the stock exchange (BSE/NSE).
- 2020s: Expanded operations to multiple Indian cities, including Chennai, Hyderabad, Kochi, Mumbai, and Goa.
Today, Prestige Group has over 270+ completed projects and is actively working on many more in major Indian cities.
Awards & Recognitions for Irfan Razack
Irfan Razack has been honored with several prestigious awards for his contribution to the real estate sector:
- Real Estate Person of the Year – CNBC Awaaz Real Estate Awards
- Lifetime Achievement Award – Credai Bengaluru
- Entrepreneur of the Year – Various industry bodies and forums
- Featured in Forbes India's List of Top Business Leaders
These accolades recognize Irfan Razack’s role in transforming the landscape of Indian real estate.
Prestige Group's Impact on Indian Real Estate
With Irfan Razack at the helm, Prestige Group has established itself as one of India’s top real estate developers. Here’s how the company has influenced the industry:
- Premium Residential Spaces: Prestige has developed iconic residential projects like Prestige Shantiniketan, Prestige Falcon City, and Prestige Lakeside Habitat, known for luxury living.
- Commercial and IT Parks: Prestige Group has built IT parks that house major companies like Accenture, Capgemini, and Oracle, contributing to India’s IT growth story.
- Retail Spaces: The development of Forum Malls in Bengaluru and other cities transformed the shopping experience for Indian consumers.
- Sustainability and Green Initiatives: Prestige has been involved in developing eco-friendly and green-certified buildings, supporting the global drive toward sustainability.
Current Net Worth of Prestige Group
The net worth of Prestige Group is estimated to be in the range of ₹40,000 crores to ₹50,000 crores. The company's value fluctuates based on market conditions and project launches. Since its listing on the BSE and NSE in 2010, Prestige Group has maintained a strong presence in the stock market.
Conclusion
The owner of Prestige Group, Irfan Razack, is a name synonymous with success, vision, and growth in the Indian real estate sector. From his humble beginnings in a family textile business to building one of India's largest real estate conglomerates, Irfan's journey is truly inspiring. His focus on quality, customer satisfaction, and timely project delivery has made Prestige Group a trusted brand for homebuyers and investors.
Under his leadership, Prestige Group continues to scale new heights, expand into new cities, and explore diverse sectors like hospitality, retail, and commercial real estate. With landmark projects like Prestige Acropolis, Prestige Shantiniketan, and the Forum Malls, Irfan Razack has solidified his legacy as a pioneer in the real estate industry.
As the company continues to grow, homebuyers and investors can expect more world-class developments from Prestige Group, driven by the vision and leadership of Irfan Razack and his brothers.
Looking to invest in a Prestige property? Check out their latest residential, commercial, and retail offerings in Bengaluru, Chennai, Hyderabad, and other metro cities!
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