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Prestige Estates Projects Ltd plans to launch 25 residential projects across Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa this fiscal, covering 44.80 million sq. ft. with a projected gross development value (GDV) of INR 42,120 crore. The expansion follows a subdued FY25, when regulatory delays limited launches to 26.28 million sq. ft. (GDV: INR 26,222.8 crore). Pre-sales dropped 19% YoY to INR 17,023.1 crore, with sales volume down 38% to 12.58 million sq. ft. Despite the decline, Prestige reported strong pricing gains-apartment, villa, and commercial realisation rose 36% to INR 14,113 per sq. ft., while plot sales surged 50%. Net profit fell to INR 467.5 crore from INR 1,374.1 crore. With a robust launch pipeline and improved pricing trends, Prestige aims to regain growth momentum and reinforce its position in India's premium real estate market.
The Bengaluru-based real estate company Prestige Estates Projects Ltd. has stated that it intends to start 25 residential projects in major cities this fiscal year, including Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa. These projects collectively span approximately 44.80 million square feet of developable area, with an anticipated gross development value of around INR 42,120 crore, as highlighted in its recent investor presentation. Advertisement
The firm is pushing ahead with these ambitious launches in response to strong consumer sentiment in the housing sector. This aggressive expansion follows a relatively subdued performance in the previous fiscal year, when the company had to scale down its launch pipeline due to regulatory approval delays. Only 26.28 million square feet were rolled out in the past year, accounting for a total gross development value of INR 26,222.8 crore.
As a result of these setbacks, Prestige Estates witnessed a 19% year-on-year decline in its pre-sales for the previous fiscal, with total bookings standing at INR 17,023.1 crore. The company had earlier projected sales bookings worth INR 24,000 crore but fell short of the target. The overall sales volume also suffered a sharp 38% drop, closing at 12.58 million square feet, with 5,919 units sold during the year.
Despite the dip in sales volume, the company reported a strong uptick in average realisation across asset classes. The average realisation for apartments, villas, and commercial properties climbed to INR 14,113 per square foot - a 36% increase year-on-year - while plot sales fetched INR 7,167 per square foot, registering a 50% jump.
On the financial front, the company's net profit took a hit, plunging to INR 467.5 crore from INR 1,374.1 crore recorded in the fiscal before that. Total income also declined to INR 7,735.5 crore, down from INR 9,425.3 crore in the previous financial year.
Prestige Group, which has already delivered more than 300 projects nationwide, continues to develop several large-scale properties across major Indian states.
Although the past year was marred by regulatory delays and missed revenue targets, the significant spike in per sq ft realisations suggests an underlying robustness in the premium realty market. With renewed focus on project execution across top cities and an ambitious INR 42,120 crore launch pipeline, the company is attempting to realign its trajectory toward sustained growth and regain market dominance.
Source - PTI
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