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Prestige Estates has recorded strong growth in sales bookings, reporting a 39 per cent rise to INR 4,183.6 crore in the third quarter, with pre-sales in the first nine months more than doubling to INR 22,327.3 crore. The company sold 1,811 units in the quarter, taking nine-month sales to 8,598 units, and achieved 16.95 million sq ft in cumulative sales volume. Mumbai, Bengaluru, and Hyderabad led the geographical mix, and the average price per sq ft rose by 6 per cent. The performance reflects strong customer confidence in the Prestige brand.
Prestige Estates Projects Ltd has reported a 39 per cent rise in its sales bookings, reaching INR 4,183.6 crore in the third quarter of the current financial year, driven by robust demand for its residential properties. Advertisement
In a regulatory filing shared midweek, the Bengaluru-based realty firm stated that its cumulative sales bookings, or pre-sales, more than doubled to INR 22,327.3 crore during the first nine months of the fiscal year.
Irfan Razack, Chairman and Managing Director of Prestige Estates, said that the record performance over the first nine months reflects strong demand for the company's portfolio and the efficiency of its execution platform. He added that achieving the highest-ever sales and collections in just nine months demonstrates the trust customers continue to place in the Prestige brand and the consistency of its market positioning.
Sales volume for the third quarter stood at 2.99 million sq ft, while cumulative sales for the first nine months reached 16.95 million sq ft. During October to December, the company sold 1,811 units, bringing total units sold in nine months to 8,598.
The geographical mix of sales remained diverse, with Mumbai accounting for 36 per cent, Bengaluru 25 per cent, Hyderabad 16 per cent, Delhi-NCR 16 per cent, Chennai 5 per cent, and Kochi 2 per cent of total sales in the third quarter. The average realisation in this period was INR 14,459 per sq ft, reflecting a 6 per cent year-on-year increase.
Prestige Group is among India's leading real estate developers, engaged in residential, commercial, and hospitality projects across major cities. As of September last year, the group had delivered 310 projects covering 202 million sq ft and maintains a pipeline of 130 projects spanning 199 million sq ft.
Source PTI
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