Prestige Group

Prestige Estates' sales bookings rise 20% to ₹7,225 crore in Q2FY27

Prestige Group reported Rs 13,804.3 crore in pre-sales during H1FY27, with Bengaluru contributing 41 per cent, followed by Hyderabad at 32 per cent and Mumbai at 12 per cent

Prestige Estates Q2 sales bookings rise 20% to ₹7,225 cr on housing demand

Realty firm Prestige Estates Projects Ltd on Tuesday reported a 20 per cent growth in its sales bookings to Rs 7,225 crore for the quarter ended September 2026 on strong housing demand, especially for big branded players. In a regulatory filing, Bengaluru-based Prestige Estates informed that "the residential business recorded Pre-sales of Rs 72,250 million (up 20 per cent year-on-year) during Q2 FY27, with sales volume of 5.84 million square feet and 3,910 units sold." During the first half of this fiscal, the company recorded pre-sales of Rs 1,3804.3 crore with sales volume of 11.88 million square feet and 7,247 units sold. Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Our residential business continues to see healthy demand. What is particularly encouraging is the response to our new launches, a couple of which were introduced towards the end of the quarter but nevertheless saw good sales traction." Sustenance sales in the ongoing projects have also remai

Prestige Estates shelves ₹2,700 cr hotel biz IPO amid market uncertainty

Realty firm Prestige Estates has shelved plans to launch an initial public offering of its hotel business because of uncertain market conditions and other factors. In April last year, Prestige Estates Projects Ltd's subsidiary Prestige Hospitality Ventures Ltd (PHVL) filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an IPO. The company planned to raise up to Rs 2,700 crore through a public issue. In a regulatory filing on Friday, the company informed that the board of directors decided to "withdraw the DRHP on account of strategic considerations and uncertain market conditions". PHVL might consider filing a fresh draft red herring prospectus with Sebi in the future for an initial public offering of its equity shares subject to suitable market conditions, receipt of requisite approvals and other considerations. In August this year, Prestige Estates said that Canada-based investment firm CPPIB will invest up to Rs 3,000 cro

Prestige Estates Q1FY27 result: Net profit down 19% at ₹236 crore

Realty firm Prestige Estates Projects Ltd has reported a 19 per cent decline in consolidated net profit at Rs 235.9 crore for June quarter of 2026-27 fiscal year. Its net profit stood at Rs 292.5 crore in the year-ago period. Total income rose to Rs 2,835.6 crore during the quarter from Rs 2,468.7 crore a year ago, according to a regulatory filing on Wednesday. In a separate filing, Prestige Estates said it has entered into a strategic partnership to develop a residential project in Thane. It did not disclose the name of the landowner. The upcoming project is spread across 14.6 acres with development potential of over 5 million square feet. The company expects a total revenue of Rs 6,000 crore from this project. Irfan Razack, Chairman & Managing Director, Prestige Group, said: "This project marks another significant milestone in the company's continued expansion in the Mumbai Metropolitan Region." Thane has emerged as one of the region's most dynamic residential markets, driven b

Prestige Group unveils 3 housing projects with ₹12,000 cr revenue potential

Realty firm Prestige Estates Projects Ltd has launched three housing projects during the April-June quarter with an estimated revenue of Rs 12,000 crore, as part of its expansion plan amid strong demand. In its latest operational update, Bengaluru-based Prestige Estates Projects informed that the company launched four projects with a combined developable area of 20.16 million square feet. Out of four projects, three are residential properties in Hyderabad, Bengaluru and Mumbai. One commercial project with a developable area of 3 million sq ft is in Bengaluru. The company said the total revenue potential for these three residential projects is estimated at Rs 12,000 crore. Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Looking ahead, we have an exciting lineup of marquee launches across Mumbai, NCR, Bengaluru and Chennai during the festive season, which we believe will further strengthen our growth momentum." Earlier, Razack had told PTI that the company has

Prestige Q1 pre-sales fall to ₹6,579 crore as sales volume drops 37%

Prestige Estates' residential pre-sales declined on a strong year-ago base, though collections rose 6.2 per cent and Hyderabad contributed nearly half of quarterly sales

Prestige Estates acquires 50% stake in Advent Hotels for ₹504 crore

Realty firm Prestige Estates Projects Ltd has acquired 50 per cent stake in Advent Convention and Hotels International Ltd for Rs 504 crore as parts of its expansion plan. Bengaluru-based Prestige Estates has entered into an investment agreement to acquire 50 per cent stake in Advent Convention and Hotels International Ltd (ACHIL), which is undertaking development of a commercial project in Mumbai, according to a regulatory filing on July 3. Prestige and ACHIL would develop a commercial project on lands admeasuring to 21,978.22 square metre at Andheri East, Mumbai. "The project entails a total leasable area of 1.50 million sq ft and has a gross development value of Rs 4,500 crore," it said. Prestige Estates will infuse an amount of up to Rs 504 crore for the acquisition of the 50 per cent stake in ACHIL, the filing said. Prestige Estates, one of the leading real estate developers in the country, builds housing, commercial (office complexes and shopping malls) and hospitality ...

HSBC to develop 1.2 mn sq ft integrated campus in Bengaluru with Prestige

The integrated campus on Bengaluru's Outer Ring Road will bring together HSBC employees from multiple locations and is designed with a focus on collaboration, sustainability and wellbeing

Prestige Group holds ₹65,000 cr unrecognised revenue on pre-sales: Chairman

Realty firm Prestige Estates Projects Ltd has around Rs 65,000 crore of unrecognised revenue in its account, driven by strong sales of its housing properties during the last three financial years. Prestige Estates achieved a record sales bookings of Rs 30,024 crore during the 2025-26 fiscal, up 76 per cent from the preceding year. In an interview with PTI, Prestige Estates Chairman Irfan Razack said, "We have got about Rs 65,000 crore of unrecognised revenue in the book. It is not a small amount". He mentioned that the company follows the completion method for recognition of revenues. This means that revenue gets recognised once the real estate project gets completed. However, Razack said the company is in discussion with auditors to shift towards the percentage of completion method. On the outlook for the current fiscal, the company's chairman was hopeful that sales bookings and new launches would be better than those in 2025-26, as housing demand continues to be good despite glo

Prestige, BACL plan integrated convention destination in Bengaluru

The 1.5 million sq ft development near Bengaluru airport will house a convention centre, performing arts venue, hotels, offices and retail spaces, with completion targeted by 2031

Real-estate major Prestige group may look at Reit as office rentals rise

Land prices remain key factor

Prestige Estates FY26 pre-sales rise 76% to hit record ₹30,024 crore

Realty firm Prestige Estates Projects Ltd's pre-sales rose 10 per cent to Rs 7,697 crore in the fourth quarter of the last fiscal on better demand for its housing properties. According to its latest operational update, the company's pre-sales or sales bookings stood at a record Rs 30,024 crore in the 2025-26 fiscal, up 76 per cent from the preceding year. Irfan Razack, Chairman and Managing Director, said the company has closed FY26 on a strong note, with steady sales momentum through the last financial year and a good finish in the fourth quarter. "Demand across our key markets has remained encouraging, and our focus on quality, location, and timely execution continues to resonate well with customers," he said. Razack said the company has a robust pipeline of upcoming launches across geographies and hence optimistic about sustaining this momentum during the current fiscal. Prestige Estates said the sales momentum remained consistent across both new launches and ongoing inventory,

Prestige Group plans Delhi NCR expansion with new projects in 2026

Planning new projects in Gurgaon, Delhi and Noida in 2026

Prestige Group eyes ₹2,000 cr revenue from new housing project in Mumbai

Prestige Estates Projects Ltd targets about Rs 2,000 crore revenue from its new residential project in Mumbai. In a regulatory filing on Tuesday, the company said it has launched a new residential project - 'Prestige Garden Trails' located at Dahisar-Mira Road corridor on the Western Express Highway in Mumbai. Spanning across 5.2 acres, the project offers a total carpet area of about 10 lakh sq ft, comprising 1,324 units, with a Gross Development Value (GDV) of about Rs 2,000 crore. Irfan Razack, Chairman and Managing Director of Prestige Group, said: "Mumbai continues to be one of our key focus markets." The upcoming project reflects the company's confidence in the strong demand for quality mid-segment housing in the Mumbai Metropolitan Region (MMR). Recently, Prestige Estates launched 620 flats for sale in Ghaziabad with an estimated revenue of Rs 2,200 crore, as part of its strategy to expand business amid strong demand for premium residential properties. Founded in 1986, Pres

Prestige Estates' strong H1 puts it on course to top FY26 guidance

Realty major Prestige Estates' record H1 sales and strong Q2 demand boost investor confidence as brokerages expect it to exceed its FY26 sales guidance

Forum Malls to expand in India with 14 new centres, eyes festive rush

The firm, which operates 11 malls, including eight with Nexus, is doubling down on metro cities and plans to open the centres across Delhi, Mumbai, Bengaluru, Chennai and Hyderabad

28 listed Indian realty firms sell ₹53k crore in properties, Prestige leads

India's 28 listed real estate companies have together sold properties worth nearly Rs 53,000 crore in the April-June quarter, with Prestige Estates achieving the highest sales bookings. According to the data compiled from regulatory filings, the total combined sales bookings of these 28 listed realtors stood at Rs 52,842 crore in the first quarter of the current financial year. In terms of sales bookings, Bengaluru-based Prestige Estates Projects Ltd emerged as the leading listed player in the April-June quarter of FY26, with pre-sales of Rs 12,126.4 crore. DLF Ltd, the country's biggest realty firm in terms of market capitalisation, stood at the second position, with pre-sales of Rs 11,425 crore, driven by the Gurugram luxury home market. Mumbai-based Godrej Properties clocked sales bookings of Rs 7,082 crore, while Lodha Developers sold properties worth Rs 4,450 crore during the June quarter. Delhi-NCR-based Signature Global achieved sales bookings of Rs 2,640 crore in the June

Prestige Estates acquires 102 acres in Q1, to build homes worth ₹20,400 cr

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, ...

Prestige Group eyes ₹3,350 cr revenue from new housing project in Chennai

Prestige Estates Projects Ltd is targeting Rs 3,350 crore revenue from its upcoming housing project in Chennai. The company has launched a residential project Prestige Pallavaram Gardens - on the PallavaramThoraipakkam Radial Road in Chennai. The 21.84-acre project has 2,069 premium apartments, offering a total saleable area of 3.1 million (31 lakh ) square feet and a "a Gross Development Value (GDV) of Rs 3,350 crore. Irfan Razack, Chairman & Managing Director, Prestige Group, said: "Chennai has emerged as one of the most dynamic real estate markets in South India, and we are delighted to strengthen our presence here." Bengaluru-based Prestige Group has a portfolio of residential, commercial, retail, hospitality, and integrated townships across major cities. The group has delivered 302 projects spanning 193 million square feet and has a pipeline of 130 projects covering 203 million square feet area. Prestige Estates Projects Ltd has set a target to sell properties worth Rs ...

Prestige Group, Chennai-based realtor form JV to develop ₹1,600 cr project

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