Prestige Estates records 48% YoY growth in new sales in Q4; collections at Rs 3,155 crore

Prestige Estates Projects said that its new sales for Q4 FY25 aggregated to Rs 6,957.4 crore, marking a 48% year-on-year (YoY) growth, driven by strong customer response to launches and premium offerings.

Sales volume for the period under review stood at 4.49 million square feet, a 9% increase YoY, reflecting healthy absorption. The company sold 2,301 units in Q4 FY25.

The average realization for apartments, villas, and commercial properties was Rs 15,524 per square foot, representing a 25% YoY increase.

For plotted developments, the average realization rose to Rs 6,975 per square foot, a 27% increase from the same quarter last year.

Collections for Q4 FY25 were Rs 3,155.1 crore, representing a 9% decline on YoY basis.

The company launched 14.03 million square feet during the quarter, spanning four projects- Prestige Suncrest and Prestige Southern Star-Ph 1in Bengaluru, Prestige Nautilus in Mumbai and Prestige Spring Heights in Hyderabad, with a combined GDV potential of Rs 16,133.8 crore.

Full-year new sales stood at Rs 17,023.1 crore, a 19% decline YoY, reflecting the impact of deferred launches amid approval delays. Sales volume for the year was 12.58 million square feet, down 38% YoY.

Collections for the full year totalled Rs 12,084 crore, indicating a 1% growth over FY24.

In the Office segment, gross leasing for FY25 stood at 4.10 million square feet across the portfolio. Portfolio-wide Occupancy levels remained strong at over 90%.

In the Retail segment, the companys malls recorded a gross turnover (GTO) of Rs 2,264 crore during FY25. Total footfalls across the retail portfolio stood at 18 million. Portfolio-wide occupancy remained high at 99%.

Irfan Razack, chairman and managing director, Prestige Group, said: FY25 brought with it a mix of achievements and challenges. Despite delays in project approvals that deferred a few key launches into the next fiscal, the final quarter saw strong traction in sales and an encouraging uptick in realizations.

The appetite for quality real estate remains robust, as evidenced by the outstanding response to our recent launches.

FY26 is set to be a defining year for Prestige Group as we expand into newer marketslaunching marquee projects in NCR and Mumbai and achieving our maiden residential completions in Mumbai.

Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments, viz., residential, office, retail, hospitality, property management, and warehouses, with operations in more than 13 major locations in India.

The scrip fell 1.28% to currently trade at Rs 1192.45 on the BSE.

Powered by Capital Market - Live News