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Prestige Estates Projects Ltd reported residential sales bookings of INR 6,579.3 crore for the first quarter of FY27, a 46% decline from the record INR 12,126.4 crore achieved in the corresponding period last year, primarily due to a high base created by a major launch in the Delhi-NCR market. The Bengaluru-based developer sold 6.04 million sq ft across 3,337 units during the quarter, with Hyderabad contributing nearly half of total pre-sales. The company completed three projects covering 4.37 million sq ft and maintained its FY27 pre-sales guidance of INR 35,000–36,000 crore. Prestige Group also highlighted its extensive development pipeline comprising 135 projects spanning 227 million sq ft across multiple markets.
Prestige Estates Projects Ltd reported a 46% year-on-year decline in residential sales bookings for the first quarter of FY27, with pre-sales falling to INR 6,579.3 crore from the record INR 12,126.4 crore reported in the corresponding period last year. The company attributed the decline to a high base effect, as the year-ago quarter included the launch of a large residential project in the Delhi-NCR region that significantly boosted bookings.
According to the company's regulatory filing released during the past week, Prestige sold 6.04 million sq ft of residential space during the April–June quarter, comprising 3,337 housing units across its projects. Despite the lower year-on-year comparison, the company described the performance as a strong start to the financial year, supported by healthy demand across key markets.
Hyderabad emerged as the largest contributor to quarterly pre-sales, accounting for 49% of the company's total bookings. Bengaluru followed with a 27% share, while Mumbai contributed 12%. The Delhi-NCR market accounted for 7% of sales, with the remaining 5% generated from other operating markets.
The developer achieved an average realisation of INR 11,193 per sq ft for apartments during the quarter. Plotted developments recorded an average realisation of INR 8,043 per sq ft, reflecting the company's presence across multiple residential product categories.
During the quarter, Prestige completed three projects with a combined developable area of 4.37 million sq ft, adding to its delivered portfolio. The company currently has a development pipeline of 135 projects spanning approximately 227 million sq ft. To date, Prestige Group has completed 316 projects covering around 212 million sq ft across residential, commercial, retail and mixed-use developments.
Chairman and Managing Director Irfan Razack said the company was encouraged by the response to Prestige Golden Grove in Hyderabad, which supported the quarter's sales performance. He added that Prestige has scheduled several major residential launches across Mumbai, Delhi-NCR, Bengaluru and Chennai during the festive season, which are expected to contribute to sales during the remainder of the financial year.
Prestige Estates recorded its highest-ever annual pre-sales of INR 30,024 crore in FY26, representing a 76% increase over the previous financial year. Building on that performance, the Bengaluru-based developer has retained its guidance of achieving residential sales bookings of INR 35,000–36,000 crore during FY27, supported by a pipeline of planned launches across its key markets.
Source - PTI
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