Prestige Estates to Unveil Rs 52,000-Crore Housing Projects by March 2025

Prestige Estates Projects Ltd plans to launch housing projects worth Rs 52,000 crore by March 2025, tapping into strong demand for residential properties. These developments, spanning Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR, will cover over 53 million sq. ft. with a sales potential of Rs 52,114 crore, as per the company’s investor presentation.

CMD Irfan Razack expressed optimism about achieving the fiscal year sales target of Rs 24,000 crore, following a record-breaking Rs 21,040 crore in sales bookings in 2023-24. Despite a dip in sales to Rs 7,052.2 crore during April-September 2024 compared to Rs 11,007.3 crore the previous year, Razack remains confident in exceeding targets, citing robust demand in the mid-income housing segment.

The company’s new launches in the first half of this fiscal year contributed Rs 10,000 crore to the gross development value, with Rs 8,600 crore from the second quarter alone. Prestige plans to unveil Rs 25,000 crore worth of projects this quarter and the remainder in the fourth quarter of FY25, according to CFO Amit Mor.

Prestige Estates, with a diversified portfolio across residential, office, retail, hospitality, property management, and warehousing, operates in over 13 cities. The group has completed 302 projects encompassing 193 million sq. ft. of developable area as of September 2024.

Razack emphasized the company’s commitment to securing project approvals swiftly to meet market demand. “The market remains favorable as long as we deliver quality products in prime locations,” he added.