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Prestige Estates
Prestige Estates Projects Ltd has reported a 95 per cent increase in consolidated net profit to Rs 457.4 crore for the latest September quarter on higher income and lower expenses. Its net profit stood at Rs 234.6 crore in the year-ago period. Total income rose to Rs 2,697.8 crore during the second quarter of this fiscal year, from Rs 2,423.8 crore in the corresponding period of the preceding year, according to a regulatory filing on Wednesday. Irfan Razack, Chairman and Managing Director, Prestige Group, said the company has achieved steady financial and operational performance. "The first half of FY26 has been particularly encouraging, with robust sales momentum and strong cash flows underscoring the enduring trust that homebuyers and investors place in the Prestige brand. Our focus remains on timely delivery, prudent capital allocation, and expanding our footprint across key growth markets," he said. With a healthy launch pipeline ahead, Razack said the company is well-position
Realty firm Prestige Estates Projects Ltd has acquired 102 acres of land in the April-June quarter to build housing projects, with a potential to generate revenue of more than Rs 20,000 crore. Looking to expand its residential real estate business, Bengaluru-based Prestige Estates Projects has been acquiring land parcels outright and also partnering with landowners. According to its latest investor presentation, the company acquired a total of 102 acres of land in Bengaluru, Hyderabad, Chennai and Mumbai in the first quarter of this fiscal year. These land parcels will be used to develop residential projects, which would have an estimated gross development value (GDV) of Rs 20,400 crore. According to the presentation, Prestige Estates in Hyderabad acquired two plots -- 28 acres in Tellapur and 37 acres in Pulimamidi. In Bengaluru, the company has acquired three land parcels -- 10 acres in Poojanahalli - Devanahalli, 7 acres in Kothanuru, KR Puram and 10 acres in Ittangur, ...
Realty firm Prestige Estates Projects Ltd on Wednesday reported a 4-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of this fiscal, mainly on strong demand for its housing project in Ghaziabad. The company's sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago period. In a regulatory filing, the company informed that it has "kicked off FY26 with its strongest quarterly performance to date, clocking an all-time high of Rs 12,126.4 crore in sales in the quarter ended June 30, 2025 (Q1 FY26), marking a 300 per cent growth over the same period last year". The company sold 4,718 units, translating to a sales volume of 9.55 million square feet, up 234 per cent year-on-year. The average price realisation stood at Rs 13,339 per square feet for apartments while plotted developments fetched Rs 7,343 per square feet. Irfan Razack, Chairman and Managing Director of Prestige Group, said the April-June quarter has been a milestone quarter for Prestige,
Prestige Group and Arihant Foundations and Housing Ltd will jointly develop a 3.5-acre residential project in Chennai with a revenue potential of more than Rs 1,600 crore. According to a regulatory filing, Prestige Estates Projects Ltd and Arihant Foundations and Housing Ltd have formed a joint venture to buy 3.48-acre land in Velachery, Chennai from Rane (Madras) Ltd. The acquisition will be undertaken through JV entity Canopy Living LLP. "The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated Gross Development Value (GDV) of over Rs 1,600 crore," the filing said. On Friday, Rane (Madras) Ltd informed that it has sold a 3.48-acre land parcel in Velachery, Chennai to the JV firm for Rs 361 crore. The land deal was facilitated by real estate consultant CBRE. Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Chennai continues to be an integral part of o
Prestige Estates Projects Ltd has set a target to sell properties worth Rs 27,000 crore this fiscal year, an increase of 59 per cent from the previous year, as it remains bullish on housing demand. Bengaluru-based Prestige Estates Projects' sales bookings declined 19 per cent annually to Rs 17,023 crore in the 2024-25 fiscal year on delays in regulatory approvals to launch its projects. The company had given a sales bookings guidance of Rs 24,000 crore for the last fiscal year, but it missed the target by a huge margin. In a conference call with analysts, Prestige Estates Chairman Irfan Razack said the company has set a conservative pre-sales target of Rs 27,000 crore for the current fiscal year. "So the strategy is I would rather under-promise and over-deliver," Razack told analysts, as per the call transcript uploaded on the stock exchanges. "...see, now what has happened is we had kept a target of Rs 24,000 crore for FY25, which of course, we fell short of. But I think this fi
Realty firm Prestige Estates Projects Ltd has posted an 82 per cent decline in its consolidated net profit to Rs 25 crore in the quarter ended March. Its net profit stood at Rs 140 crore in the year-ago period. Total income fell to Rs 1,589.3 crore in the fourth quarter of the last financial year from Rs 2,232.5 crore in the corresponding period of the preceding year, according to a regulatory filing on late Thursday. During the 2024-25 fiscal, Prestige Estates' net profit fell sharply to Rs 467.5 crore from Rs 1,374.1 crore in the preceding year. Total income too declined to Rs 7,735.5 crore in the last fiscal from Rs 9,425.3 crore in the 2023-24 fiscal. Prestige Estates has also partnered with Valor Group to develop an office complex worth Rs 4,500 crore in Mumbai. Prestige Estates informed that it has entered into a framework agreement with Valor Estate Ltd and its wholly owned subsidiaries for jointly developing a project on lands admeasuring in the aggregate 21,978.22 square