Page 2 - Prestige Estates

Prestige Estates Q4 results: Net profit declines 82% to Rs 25 crore

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

Prestige Estates share zooms over 6% in trade on Monday; check reasons here

Prestige Estates shares rose after the company said that it has entered into a 'Framework Agreement' with Arihant Foundations, to collaborate and jointly develop real estate projects in Chennai

Prestige Estates to invest Rs 10K cr in 62 acre Ghaziabad township project

Realty firm Prestige Estates Projects Ltd will invest around Rs 10,000 crore over the next six years to develop a 62.5 acre township at Ghaziabad, Uttar Pradesh as it remains bullish on housing demand in Delhi-NCR market. On April 29, Bengaluru-based Prestige Group announced its entry into Delhi-NCR's residential market. It is already developing a commercial project at Delhi's Aerocity comprising hotels and office spaces. "We have entered into Delhi-NCR's housing market with our first project 'Prestige City, Indirapuram'. We want to rewrite the way real estate is done in this region. We do not want to be the biggest but definitely the best developer in the NCR market," Prestige Estates Chairman and Managing Director Irfan Razack told reporters here. He said the company will focus on quality with timely delivery, which has been a problematic issue in the Delhi-NCR property market. Razack said the company will develop around 10 million square feet area, comprising 4,041 homes and aro

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 Estates Q4 sales rise 48% to Rs 7K cr, FY25 bookings fall 19%

Realty firm Prestige Estates Projects Ltd sales bookings rose 48 per cent to nearly Rs 7,000 crore in January-March quarter, but pre-sales declined 19 per cent to over Rs 17,000 crore in the last fiscal. Prestige Estates attributed the fall in annual sales bookings numbers to lower launches of housing projects due to a lack of approvals from development authorities. As a result, the company has failed to achieve the annual sales bookings guidance of Rs 24,000 crore. In a regulatory filing, Bengaluru-based Prestige Estates shared its operational performance for the fourth quarter of the last fiscal and the full 2024-25 financial year. The company's sales bookings stood at Rs 6,957.4 crore in the January-March quarter of the last fiscal, an increase of 48 per cent year-on-year (y-o-y). Sales volume stood at 4.49 million square feet, a 9 per cent increase Y-o-Y. Total units sold during the fourth quarter stood at 2,301. The average realisation for apartments, villas, and commercia

DLF, Sobha: Realty stocks down up to 50% this year; time to buy or wait?

The Nifty Realty index has shed 25% thus far in 2025; technical chart suggests the index can potentially slide another 19% from here on. Check key levels on top 5 realty stocks here.

Prestige Group announces residential launches with GDV of Rs 16,133.8 cr

The Group's launches spanned key cities such as Bengaluru, Mumbai, and Hyderabad, covering a total developable area of 14.03 million square feet and comprising 4,548 units

Oberoi Realty, Sobha: Nifty Realty falls 4%; What's worrying investors?

Oberoi Realty, Godrej Properties, Prestige Estates were down over 3 per cent, Macro Tech Developers, Phoenix Mills, DLF, Sobha, and Brigade Enterprises slipped 2 per cent

Listed realtors report mixed bag Q3 as home sales moderate in top cities

Project approvals slow down but most companies expect to meet their annual guidance

Prestige Estates to launch Rs 30K-cr projects, aims Rs 24K-cr pre-sales

Real estate firm Prestige Estates Projects Ltd is planning to launch Rs 30,000 crore of housing projects this quarter across major cities to tap robust consumer demand. According to a transcript of company's discussion with market analysts, Bengaluru-based Prestige Estates Executive Director Zayd Noaman said the company will launch "a total of Rs 30,000 crore worth of inventory" in this quarter. "We are saying this with utmost confidence as most of these projects have been logged in for RERA and should be launched in the next few weeks," he added. Noaman said the company would be launching projects mainly in Bengaluru, Delhi-NCR, Chennai, and Mumbai. Asked whether the company would be able to meet sales guidance of Rs 24,000 crore for this entire fiscal year, Prestige Group CMD Irfan Razack said it was possible provided the company gets regulatory approvals to launch projects. Prestige Estates' sales bookings have declined 38 per cent to Rs 10,065.7 crore during April-December per

Prestige Estates' Q3 result: Sales fall 43% amid absence of new launches

The company's revenue from operations also declined by 7.9 per cent YoY

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

Adani Enterprises, Zomato, SpiceJet: 15 stks dip 27% below their QIP price

These 15 companies accounted for 70 per cent of total fund mobilisation of Rs 93,453 crore via QIP route in the past six months, according to PRIME Database.

Nifty Realty stocks trade below 200-DMAs; index down 18% in Jan; what next?

Technical charts suggest that stocks such as Prestige Estates, Lodha and Sobha can fall up to 32 per cent from here on, while the Nifty Realty index can crack by another 14 per cent.

BSE Realty index hits 10-month low; Oberoi, Prestige, Lodha fall up to 7%

The BSE Realty index was trading at its lowest level since March 26, 2024, and has corrected by 23 per cent from its December 2024 high.

Nifty Realty records sharpest intraday fall in 7 months; tanks 6% today

Shares of Phoenix, Macrotech Developers, Sobha, Brigade, Raymond, DLF, Oberoi Realty, Prestige Estates Projects and Godrej Properties were down in the range of 4 per cent to 9 per cent

UBS initiates coverage on DLF, Oberoi & Prestige, says sector in sweet spot

UBS has set a target price of Rs 1,005 for DLF; Rs 2,175 for Prestige Estates; and Rs 2,230 for Oberoi Realty

Nifty Realty gains 2%; Godrej Properties, Oberoi Realty rise up to 4%

Among others, Godrej Properties and Macrotech Developers (Lodha) gained over 3 per cent. DLF and Phoenix Mills advanced over 2 per cent

Prestige Estates to launch Rs 52,000 cr housing projects by March 2025

Realty firm Prestige Estates Projects Ltd plans to launch housing projects worth Rs 52,000 crore by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 52,114 crore. According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 24,000 crore. During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 21,040 crore. Prestige Estates recorded sales of Rs 4,022.6 crore in the September quarter as against Rs 7,092.6 crore in the year-ago period. During the April-September period, the company's sales bookings fell to Rs 7,052.2 crore as against Rs ...

Prestige Estates to invest Rs 7,000 cr to develop township in Ghaziabad

Realty firm Prestige Estates Projects Ltd will invest around Rs 7,000 crore to develop a township in Ghaziabad as it looks to expand business in Delhi-NCR property market. Bengaluru-based Prestige Estates is building a commercial project at Aerocity in the national capital. It has also forayed into Delhi-NCR housing market by acquiring three land parcels in Delhi, Noida and Siddharth Vihar, Ghaziabad. Prestige Group Chairman and Managing Director Irfan Razack is bullish on Delhi-NCR residential market and said there is a potential to achieve Rs 10,000 crore worth of housing sales annually if the company is able to acquire land parcels consistently. In March, Prestige Estates Projects acquired 62.5 acres at Siddharth Vihar, Indirapuram Extension, Ghaziabad to develop a township. The township project 'Prestige City' is expected to be launched this quarter after getting all the necessary approvals. "We bought this land parcel for more than Rs 450 crore. We will be developing 10 milli