Prestige Estates Projects reported property pre-sales of Rs 1,38,043 million in the first half of FY27, driven by residential demand and project launches across key markets. The real estate developer also expanded its development pipeline, taking total launches during the six-month period to 30.25 million square feet.
Residential pre-sales stood at Rs 72,250 million in the September quarter, marking a 20% year-on-year increase. Sales volume reached 5.84 million square feet, with 3,910 units sold during the quarter.
For the April-September period, residential pre-sales totalled Rs 1,38,043 million, covering 11.88 million square feet and 7,247 units.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Bengaluru remained the largest contributor to sales in H1 FY27, accounting for 41% of the total. Hyderabad followed with 32%, while Mumbai and Chennai contributed 12% and 8%, respectively. Other markets accounted for the remaining 7%.
During the September quarter, Prestige launched three residential projects with a combined developable area of 5.91 million square feet and a gross development value (GDV) of around Rs 40,200 million.
Also Read | Prestige Eyes Four Separate Listings As It Scales Hospitality To 5,500 Keys: CMD Razack
These included Prestige Palm Court in Chennai, Garden Breeze at TPC in Bengaluru and Prestige Parklane, also in Bengaluru.
The company completed three residential projects covering 4.27 million square feet during the quarter. Collections remained strong at Rs 52,941 million in Q2, taking H1 collections to Rs 1,00,963 million.
Beyond housing, Prestige continued to expand its commercial, retail and hospitality portfolios. Its office business recorded gross leasing of 1.7 million square feet in the first half, while retail malls generated gross turnover of Rs 7,210 million in Q2, up 10% year-on-year. Mall footfalls reached 5.2 million, with occupancy at 99%.
The hospitality business reported 70% occupancy and average room rates of Rs 15,143 during H1 FY27.
Prestige also announced a Rs 30,000 million investment by CPP Investments for an approximately 27% stake in Prestige Hospitality Ventures, aimed at supporting expansion in the hospitality segment.
Also Read | Prestige Estates Plans Rs 60,000-Crore Launches, Holds Rs 90,000-Crore Land Pipeline
Chairman and Managing Director Irfan Razack said the company had a launch pipeline exceeding Rs 4,00,000 million planned across major markets over the next two quarters.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
