The Prestige Group of Bangalore and WS Industries To Build Six and a Half Acre IT Park in Mount Poonamalle Road, Chennai

On July 5, 2023 Prestige Group, a developer headquartered in Bengaluru, said in a regulatory filing that it had formed a joint venture (JV) with WS Industries Limited to build an IT park on 6.53 acres in western Chennai. 

Mount Poonamalle Road, a premium location in the city, will be the site of the development, which is expected to have a buildable area of 1.1 million square feet. 

A premium location in Chennai, Mount Poonamalle Road is an ideal location for this development.

Prestige Exora Business Parks Limited, a completely owned subsidiary of the Prestige Group, has joined the JV. According to the document, WS Industries intends to carry out the project through its wholly-owned subsidiary, WS Insulators Private Limited.

The project has been proven to have a development potential of above 1 msf. There is no indication of the selling price in the official filing.

The Prestige Group acquired two DB Group companies, Prestige (BKC) Realtors Private Ltd and Turf Estate Joint Venture LLP, for a total of Rs 1,176 crore in June 2023.

About the Tamil Nadu-based WS Industries Among the many fields that WS Industries excels in is that of "software technology parks," "special economic zones," and "export-oriented units" (EOUs).