Prestige Estates to Unveil ₹30,000 Crore Projects, Targets ₹24,000 Crore in Pre-Sales.

Real estate major Prestige Estates Projects Ltd. plans to launch housing projects worth ₹30,000 crore this quarter across key cities, aiming to capitalize on strong consumer demand.

In a discussion with market analysts, Prestige Estates Executive Director Zayd Noaman confirmed that the company is set to roll out ₹30,000 crore worth of inventory in the coming weeks, with most projects already filed for RERA approvals.

The new launches will be concentrated in Bengaluru, Delhi-NCR, Chennai, and Mumbai.

Prestige Group Chairman and Managing Director Irfan Razack expressed confidence in meeting the company’s ₹24,000 crore pre-sales target for FY25, contingent on timely regulatory approvals.

Sales bookings for April–December FY25 declined 38% to ₹10,065.7 crore due to project launch delays. However, Razack emphasized that with ₹30,000 crore of inventory hitting the market, the company expects to sell 30-40% at launch, helping it reach the pre-sales target.

In the first nine months of FY25, Prestige Estates sold 8.09 million sq ft at an average price of ₹13,128 per sq ft, with 3,618 units sold and collections of ₹8,910.9 crore.

Despite the slowdown, Prestige Estates remains bullish on its upcoming launches, with large-scale projects in final approval stages expected to drive significant sales momentum.

The company reported an 85% decline in consolidated net profit to ₹17.7 crore for Q3 FY25, down from ₹116.3 crore in the same period last year, while total income fell to ₹1,697.9 crore from ₹1,970.5 crore.

Prestige Group, which operates across residential, commercial, retail, hospitality, and warehousing sectors, has completed 302 projects spanning 193 million sq ft. It currently has 59 projects under development (101 million sq ft) and 65 projects in the planning stage (96 million sq ft).

BS