Prestige Group anticipates the first quarter of FY26 to be one of its best ever with record-high top-line sales, according to Chairperson Irfan Razack.
The real estate "phenomenal growth" over the past four years. In FY25, the Bengaluru-based firm saw a brief dip due to delayed approvals from the Real Estate Regulatory Authority, not lack of demand, the managing director told NDTV Profit in a conversation on Thursday.
"I think this quarter will be the largest the company has ever done. I don't want to say any number just now, but the market will be quite surprised," the CMD said.
"We've done a large amount of top-line sales. It will be one of the best quarters we've ever had," he said. "It's due to spillover and pent-up demand from last quarter, which we brought in this time."
On recent projects, Razack said Prestige City Indirapuram was a major success. Moreover, Prestige Gardenia Estate in Bengaluru sold out quickly and a large Chennai project, Prestige Pallava Gardens, is set to launch following the clearance of pending RERA approval. "Once that comes in, there's good pent-up demand for it. It's a large project, expected to generate a revenue of around Rs 3,500 crore," he said.
Overall, Razack expressed optimism about FY26, citing strong performance across residential, office, retail and hospitality sectors, and continued momentum in multiple markets. He explained that approval delays in FY25 were largely due to nationwide elections, which diverted officials to election duties. However, he now expects smoother processing.
On the luxury segment, he doesn't think there is any stress in the market, pointing out that luxury is a niche with limited buyers, but there is a steady appetite. "If the location, product, and price are right, there will always be demand."
Watch
RECOMMENDED FOR YOU
Vodafone Idea COO Abhijit Kishore Re-Elected As COAI Chairperson
Jul 09, 2025
Nandan Nilekani At Infosys AGM: Uncertainty Unlike Anything Seen Before
Jun 25, 2025
Timex Share Price Hits Lower Circuit As Promoter Announces Plan To Offload 15% Stake
Jun 25, 2025
Adani Group To Invest $15-20 Billion Annually For Next Five Years Across Businesses: Gautam Adani
Jun 02, 2025
POPULAR