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Prestige Estates Projects Ltd launched three residential projects and one commercial development during the April–June quarter of FY2026–27, adding over 20 million sq ft of developable area to its portfolio. The three housing projects in Hyderabad, Bengaluru and Mumbai have an estimated revenue potential of INR 12,000 crore. Despite a 46% year-on-year decline in quarterly sales bookings due to a high base from the previous year, the Bengaluru-based developer remains focused on expansion, with a pipeline of marquee residential launches planned across Mumbai, NCR, Bengaluru and Chennai during the festive season. The company has also retained its annual pre-sales guidance of INR 35,000–36,000 crore.
Prestige Estates Projects Ltd launched three residential projects with an estimated revenue potential of INR 12,000 crore during the first quarter of FY2026–27, alongside a commercial development in Bengaluru, as the company continued to expand its project portfolio amid sustained demand for housing.
In its latest operational update released recently, the Bengaluru-based developer said it launched four projects during the April–June quarter with a combined developable area of 20.16 million sq ft. The launches comprised three residential developments located in Hyderabad, Bengaluru and Mumbai, while the fourth project is a commercial development in Bengaluru with a developable area of 3 million sq ft.
The company stated that the three residential projects together are expected to generate an estimated revenue of INR 12,000 crore.
Commenting on the company's upcoming pipeline, Chairman and Managing Director Irfan Razack said Prestige Estates has a series of marquee residential launches planned across Mumbai, the National Capital Region (NCR), Bengaluru and Chennai during the festive season, which the company expects will support its growth momentum. Razack had earlier told PTI that Prestige has a residential launch pipeline valued at around INR 60,000 crore, although the timing and number of project launches will depend on obtaining the necessary regulatory approvals.
Despite the fresh launches, Prestige Estates reported a decline in quarterly sales bookings. Pre-sales during the April–June quarter fell 46% year-on-year to INR 6,579.3 crore compared with INR 12,126.4 crore in the corresponding period of the previous financial year.
The company attributed the decline to a high base effect, as the first quarter of FY2025–26 included the launch of a large residential project in Delhi-NCR, which helped it achieve record quarterly pre-sales.
Hyderabad emerged as the company's largest contributor to quarterly sales, accounting for 49% of the total booking value. Bengaluru followed with a 27% share, while Mumbai contributed 12%. The National Capital Region accounted for 7% of sales, with the remaining 5% generated from other markets.
Prestige Estates also reported an average sales 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.
The developer recorded its highest-ever annual sales bookings of INR 30,024 crore during FY2025–26, representing a 76% increase over the previous financial year. Building on that performance, the company has set a pre-sales target of INR 35,000–36,000 crore for FY2026–27.
Prestige Group has completed 316 projects covering approximately 212 million sq ft and currently has a development pipeline comprising 135 projects with a total development potential of 227 million sq ft across multiple asset classes and markets.
Source - PTI
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