Irfan Razack, Chairman and Managing Director of Prestige Estates Projects, has led the company to become one of India's largest listed property firms. With a net worth exceeding $1 billion, Razack's journey from his family's humble tailoring shop to real estate mogul is an inspiring tale of entrepreneurial success.
Self-made success stories are always inspiring, particularly when someone navigates through life's highs and lows to achieve remarkable success. One clear example is Irfan Razack, Chairman and Managing Director of Prestige Estates Projects, who is now one of India's wealthiest people. He comes from a business-savvy family; his father, Razack Sattar, started the Prestige Group in 1950 with a small clothing and tailoring shop in Bengaluru.
Irfan Razack
Under his leadership, Prestige Estates Projects has emerged as a major player in the Indian real estate market. The company has successfully completed numerous large-scale projects across residential, commercial, retail, and hospitality sectors. To date, the company has completed a total of 285 projects, with work on 54 additional projects currently underway.
Prestige Estates Projects
The company's shares have surged by over 60% this year. This significant growth is one of Prestige Estates Projects' most notable achievements, pushing the net worth of Irfan Razack and his family beyond $1 billion. As a result, Prestige Estates Projects has cemented its position as India's largest listed property firm, second only to DLF.
Prestige Properties' clients include major global brands like Apple, Caterpillar, Armani, and Louis Vuitton. After successfully selling his second real estate project in Bengaluru in 1990, Irfan Razack considered retirement. However, his entrepreneurial spirit kept him from stepping away.
Company's success
He has transformed Prestige Estates Projects into a real estate powerhouse, expanding its reach beyond Bengaluru to cities like Chennai, Kochi, Calicut, Hyderabad, and Mumbai. The company is focused on boosting its annual sales by targeting middle-class buyers. Irfan Razack's younger brothers, Rezwan and Noaman, also play a key role in the company's success.
Interestingly, the clothing and tailoring shop his father started is still in operation alongside the company. As of 2024, Irfan Razack's net worth is $1.3 billion (Rs 108.7 billion), making him one of India's top entrepreneurs. The company reported sales of Rs 12,930 crore in FY2023, and Irfan Razack was also featured in Forbes' World's Billionaires list for 2024.
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