The rise and rise of Prestige Estates: How the realty firm bucked the trend

At the end of last year, Irfan Razack, chairman and managing director, Prestige Estates Projects, a real estate firm in Bengaluru, made it to the list of new-minted billionaires. The company’s share prices soared over 2019 and the Razack family’s 70 per cent stake in it ballooned to a value of Rs 8,800 crore.  In other words, in a market where most real estate players are struggling, where pending IPOs have been scuttled and high-value customers have hit the brakes on spending because of economic uncertainty, Prestige Estates has been flying high.  How di.....

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