Prestige

Prestige Group aims ₹12,000 cr revenue from Ghaziabad township project

Real estate firm Prestige Estates Projects Ltd is targeting Rs 12,000 crore revenue from a 62.5-acre township at Ghaziabad, marking its entry into the Delhi-NCR growing residential market. Prestige Estates is already developing a commercial project at Delhi's Aerocity. In a regulatory filing on Tuesday, the company announced its entry into the National Capital Region (NCR) residential market with the launch of the first phase of 'The Prestige City, Indirapuram'. With all approvals secured, Prestige Group has begun marketing the first phase of this township project named 'Oakwood and Mulberry' which together represent a Gross Development Value (GDV) of over Rs 9,000 crore. When the second phase "Mayflower" is launched, it will take the total GDV of the entire residential development to Rs 12,000 crore, it added. The first phase will have 3,421 homes across 19 towers, with unit sizes ranging from 1,681 sq ft to 6,026 sq ft. The township is spread across 62.5-acre in Indirapuram

Prestige Hospitality Ventures files DRHP to raise ₹2,700 cr through IPO

The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹1,700 cr and an offer for sale of shares worth up to ₹1,000 cr by the parent company, Prestige Estates Projects

TTK Prestige to grow stores by 30% in 4 years, says CEO Vijayaraghavan

Expansion plan comes at a time when consumer spending is slowing in urban India, which in part resulted in a 6.4 per cent annual drop in the company's profit in the October-to-December period

Real estate firms dominate QIP market in 2024, raise Rs 22,320 cr: Report

Institutional investors 'extremely bullish' about sector's growth potential, it says

Budget 2025: Realty stocks gain on Rs 96.77-cr outlay for urban development

Nifty Realty index surged 1.88 per cent in intra-day trade, driven by investor optimism after Finance Minister Nirmala Sitharaman announced a Rs 96,777 crore allocation for urban development

Prestige Estates Q3 results: Profit down 85% to Rs 17.7 cr on lower income

Real estate firm Prestige Estates Projects Ltd on Friday reported an 85 per cent decline in consolidated profit to Rs 17.7 crore for the December quarter on lower income. Its net profit stood at Rs 116.3 crore in the year-ago period. Total income fell to Rs 1,697.9 crore in the third quarter of this fiscal year from Rs 1,970.5 crore in the corresponding period of the previous year, according to a regulatory filing. "Despite the absence of new launches during the quarter, Prestige Group achieved sales of Rs 3,013.5 crore in Q3, FY25, with a total area of 2.23 million sq ft sold across 888 units. The company maintained strong pricing, with an average realisation of Rs 13,684 per sq ft, and recorded healthy collections of Rs 3,257.5 crore during the (December) quarter," the company said. For the nine months ended December 31, 2024, the company reported total sales of Rs 10,065.7 crore, with 8.09 million sq ft area sold across 3,618 units. The average realisation for the period stood a

Prestige Estates Projects Q1 results: Net profit down 3.4% at Rs 307 crore

The realty firm's revenue from operations stood at Rs 1,862.1 crore in Q1 FY25 against Rs 1,680.9 crore in the corresponding period last year

Prestige Estates Q4 result: Profit falls 70% to Rs 140 cr on lower income

Prestige Estates Projects has posted 70 per cent decline in consolidated net profit at Rs 140 crore for the quarter ended March 2024 on lower income. Its net profit stood at Rs 468.4 crore in the year-ago period. Total income fell to Rs 2,232.5 crore in the quarter from Rs 2,938 crore in January-March FY23, according to a regulatory filing late Tuesday. During 2023-24 fiscal year, net profit rose to Rs 1,374.1 crore from Rs 941.8 crore in the preceding year. Total income increased to Rs 9,425.3 crore from Rs 8,772 crore in 2022-23. Prestige Estates is one of the leading real estate developers in the country. It has a significant presence in South India. The company has entered into Mumbai and Delhi-NCR markets.

Quite a design rethink done to stay relevant, says Prestige Group CEO

Consumer needs and requirements have changed, and differ from city to city. We need to take into consideration what the people of a select city need and then do it accordingly, Venkat K Narayana said

Prestige Group eyes mall expansion in Mumbai and Goa amid retail boom

Prestige Group currently operates four malls in Bengaluru and Kochi, it plans to develop eight more malls across various stages in cities such as Chennai and Hyderabad

Wipro, Prestige, Eco Space: Big names on list of encroachers in Bengaluru

The list was made by the state government, after severe flooding in the parts of Bengaluru, to find the names of buildings that have closed nearly 700 drains in the city

We expect positive momentum in realty sales in year ahead: Pavitra Shankar

'We plan to launch 8 million square feet in residential projects and 2 million square feet in commercial projects in FY23'

Blackstone nears $2 billion India property deal with Prestige: Report

The US private equity group is in advanced talks to acquire Prestige Estates Projects' rent-yielding assets including offices and operating malls

Realty check: Prestige to Sobha, south Indian developers hold the edge

Prestige, Sobha top picks given their exposure to Bengaluru, other southern markets

A matter of Prestige

The Bachchan couple brings star power to an old brand, helps the TTK Group strengthen its mass appeal