Prestige Estates Projects Ltd reported a 48% growth in sales bookings in Q4, touching nearly Rs 7,000 crore.
Prestige Estates Sales: The fourth quarter witnessed a 9% growth in sales volumes, reaching 4.49 million sq ft, with 2,301 units sold.
Prestige Estates Projects has announced a significant 48% growth in sales bookings for the January-March quarter, touching nearly Rs 7,000 crore.
This growth is in contrast to the annual decline, where pre-sales for FY 2024-25 fell 19% to over Rs 17,000 crore.
The decrease in annual sales bookings is attributed to deferred launches due to delays in approvals, resulting in the Company not meeting its annual target of Rs 24,000 crore.
The fourth quarter saw a 9% increase in sales volumes, reaching 4.49 million sq ft with 2,301 units sold. Average realisation for apartments, villas and commercial properties grew 25% to Rs 15,524 per sq ft, while plotted developments grew 27% to Rs 6,975 per sq ft.
Despite these challenges, Irfan Razak, Chairman and Managing Director, Prestige Group, highlighted the company’s focus on customer-centric offerings.
Razak said, “FY25 brought with it a mix of achievements and challenges. Despite delays in project approvals, which deferred some key launches to the next fiscal, the last quarter saw strong growth in sales and encouraging growth in realisations.”
However, average realisation for apartments and commercial properties grew 36% to Rs 14,113 per sq ft, while plot sale realisation grew 50% to Rs 7,167 per sq ft. Prestige Estates remains optimistic about future growth, Razak said, ‘Our focus on customer-centric offerings and premium positioning has also translated into meaningful growth in per sq ft realisation.
FY26 is going to be a defining year for Prestige Group as we expand into new markets, launch marquee projects in NCR and Mumbai and complete our first residential construction in Mumbai.’ He further expressed confidence of scaling new heights, ‘With approvals progressing and the demand environment remaining stable, we are optimistic about scaling new heights in the coming year and deepening our presence in key geographies.’
Prestige Estates reports 48% rose in sales bookings in Q4
