Prestige Group Plans ₹42,000 Cr Housing Push in FY26 Despite Dip in FY25 Performance

Prestige Estates Projects Ltd, a big Bengaluru real estate player, is gearing up to roll out housing projects worth over ₹42,000 crore in FY26 making a quick recovery from the weak FY25 performance.

As per the latest investor presentation by Prestige, the company will set up 25 new residential projects amounting to 44.80 million sq. ft. in urban locations. Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa. The estimated overall gross development value (GDV) is ₹42,120 crore.

This expansionist strategy is a strong follow-on to a tough FY25, during which regulatory hold-ups halted launches and affected sales performance. The company was able to bring 26.28 million sq. ft. of space online in the previous fiscal, with a GDV of ₹26,222.8 crore.

Sales bookings were below the target of ₹24,000 crore, declining 19% YoY to ₹17,023.1 crore. Volumes too were impacted, declining 38% YoY to 12.58 million sq. ft., with 5,919 units getting sold.

Despite these drawbacks, pricing resilience was one good news. Apartment, villa, and commercial average realization increased 36% YoY to ₹14,113 per sq. ft. Plot sales averaged out at ₹7,167 per sq. ft., a 50% YoY increase.

Financially, though, the company felt the pinch. Net profit in FY25 decreased to ₹467.5 crore from ₹1,374.1 crore in FY24, while total income declined to ₹7,735.5 crore from ₹9,425.3 crore.

Prestige Group, which has handed over more than 300 projects across the country, is hopeful about the next year. As the regulatory pipeline is likely to ease and demand for urban housing is good, the company is hoping its launches shortly to prop up growth and recapture momentum.