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Prestige Estates Projects Ltd has reported strong initial sales for its newly launched residential project in Hyderabad, indicating sustained housing demand in the city. The company sold more than 1,700 units within a short span, generating over INR 2,500 crore in sales value. The project has a large development scale and is expected to contribute significantly to the company’s future revenue pipeline. This performance also builds on the firm’s record sales bookings achieved in the previous financial year, reflecting consistent buyer interest across key markets.
Realty firm Prestige Estates Projects Ltd has reported strong sales momentum for its newly launched housing project in Hyderabad, driven by healthy demand in the residential segment. Advertisement
The company informed in a regulatory filing that its project, Prestige Golden Grove, received a positive market response soon after launch. It stated that within a span of two weeks, more than 1,700 housing units were sold, generating a total sales value exceeding INR 2,500 crore. This early traction highlights steady homebuyer interest in the Hyderabad market, particularly for large-scale developments.
The project is spread across 29 acres and will have a total of 5,120 residential units. Based on current projections, the company expects to generate around INR 9,500 crore in total revenue from this development, making it a key contributor to its upcoming earnings.
Prestige Group, which is headquartered in Bengaluru, has a strong development track record with 313 completed projects covering about 206 million sq ft. The company is also actively expanding, with a pipeline of 128 projects spanning approximately 195 million sq ft.
The latest sales performance comes after the company recorded its highest-ever annual sales bookings in the past financial year. Prestige Estates reported sales bookings of INR 30,024.5 crore, marking a 76 per cent increase compared to the previous year. During this period, the company sold a total of 11,692 housing units, indicating strong demand across its key markets.
Hyderabad has been emerging as a steady residential market due to infrastructure growth, job creation in the IT sector, and relatively competitive pricing compared to other metro cities. Large-scale projects with integrated amenities have continued to attract both end-users and investors.
Source PTI
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