Irfan Razack’s journey to success began with his father, Razack Sattar, who established the Prestige Group in Bengaluru in 1950 with a modest fabric and tailoring shop. This humble start laid the foundation for what would become a major real estate empire.
Growth and Expansion
Under Irfan Razack’s leadership, Prestige Estates Projects has transformed into a leading name in the Indian real estate market. The company has diversified into residential, commercial, retail, and hospitality sectors, completing 285 projects and managing 54 ongoing ones.
Financial Milestones
A significant turning point came when Prestige Estates Projects saw a 60% increase in its share value, pushing Razack’s and his family’s net worth past $1 billion. Today, the company is the largest listed property firm in India, second only to DLF, and serves high-profile clients including Apple, Caterpillar, Armani, and Louis Vuitton.
A Passion for Entrepreneurship
Despite his initial intention to retire after selling his second real estate project in 1990, Razack’s drive for business success led him to further expand Prestige Estates Projects. The company has since extended its reach to cities like Chennai, Kochi, Calicut, Hyderabad, and Mumbai, focusing on middle-class buyers and aiming to increase annual sales.
Family Contributions and Legacy
Razack’s younger brothers, Rezwan and Noaman, play key roles in the company’s ongoing success. The original fabric and tailoring shop remains operational alongside the real estate ventures, highlighting the enduring legacy of the family’s entrepreneurial spirit.
Current Status and Achievements
As of 2024, Irfan Razack’s net worth is a remarkable $1.3 billion (₹108,678,802,700), solidifying his position as one of India’s foremost entrepreneurs. Prestige Estates Projects reported sales of ₹12,930 crore in FY 2023, and Razack was included in Forbes’ ‘World’s Billionaires’ list for 2024, marking another milestone in his successful career.
