Prestige Group to launch housing projects worth ₹42,000 cr in FY26
Prestige Estates Projects Ltd will launch multiple housing projects across major cities this fiscal year | Photo Credit: ROMOLOTAVANI
Realty firm Prestige Estates Projects Ltd will launch multiple housing projects across major cities this fiscal year with an estimated revenue of more than ₹42,000 crore, as it looks to expand business to capitalise on strong consumer demand.
According to its latest investors presentation, the Bengaluru-based firm plans to launch as many as 25 residential projects having 44.80 million sq ft of developable area, with an estimated gross development value of ₹42,120 crore, in this financial year.
These projects are lined up in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR and Goa.
During the 2024-25 financial year, the company launched a lesser number of projects due to delays in regulatory approvals.
Prestige Estates launched 26.28 million square feet during the last fiscal year, with a combined gross development value of ₹26,222.8 crore.
Last year, the company’s sales bookings or pre-sales were affected.
Prestige Estates sales bookings during the 2024-25 fiscal declined 19 per cent to ₹17,023.1 crore, “reflecting the impact of deferred launches amid approval delays”, the company had said in April.
The company was not able to achieve the targeted sales bookings of ₹24,000 crore last fiscal.
Sales volume for 2024-25 stood at 12.58 million square feet, down 38 per cent y-o-y (year-on-year).
Total units sold stood at 5,919 last fiscal.
The average realisation for apartments, villas, and commercial products rose to ₹14,113 per square feet, an impressive 36 per cent increase y-o-y.
Plot sale realisation increased to ₹7,167 per square foot, registering a 50 per cent y-o-y growth.
On the financial performance front, during 2024-25 fiscal, Prestige Estates net profit fell sharply to ₹467.5 crore, from ₹1,374.1 crore in the preceding year.
Total income too declined to ₹7,735.5 crore in the last fiscal year, from ₹9,425.3 crore in the 2023-24 fiscal.
Prestige Group has developed more than 300 projects so far and is constructing a large number of properties across major states.
Published on June 1, 2025