Prestige Group to launch housing projects worth Rs 42,000 cr in FY'26 to tap strong consumer demand

New Delhi: Realty firm Prestige Estates Projects Ltd will launch multiple housing projects across major cities this fiscal year with an estimated revenue of more than Rs 42,000 crore, as it looks to expand business to capitalize on strong consumer demand.

According to its latest investor presentation, Bengaluru-based Prestige Estates plans to launch as many as 25 residential projects having 44.80 million sq ft of developable area, with an estimated gross development value of Rs 42,120 crore, in this financial year.

These projects are lined up in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR and Goa.

During the 2024-25 financial year, the company launched a lesser number of projects due to delays in regulatory approvals.

Prestige Estates launched 26.28 million square feet during the last fiscal year, with a combined gross development value of Rs 26,222.8 crore.

Last year, the company's sales bookings or pre-sales were affected.

Prestige Estates sales bookings during the 2024-25 fiscal declined 19 per cent to Rs 17,023.1 crore, "reflecting the impact of deferred launches amid approval delays", the company had said in April.

The company was not able to achieve the targeted sales bookings of Rs 24,000 crore last fiscal.

Sales volume for 2024-25 stood at 12.58 million square feet, down 38 per cent Y-o-Y (year-on-year).

Total units sold stood at 5,919 last fiscal.

The average realisation for apartments, villas, and commercial products rose to Rs 14,113 per square feet, an impressive 36 per cent increase Y-o-Y.

Plot sale realisation increased to Rs 7,167 per square foot, registering a 50 per cent Y-o-Y growth.

On the financial performance front, during 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 year, from Rs 9,425.3 crore in the 2023-24 fiscal.

Prestige Group has developed more than 300 projects so far and is constructing a large number of properties across major states. PTI MJH DRR