Prestige Estates Reports 48% Rise In Q4 Sales Bookings

SUMMARY

Prestige Estates Projects has announced a important 48% emergence successful income bookings to astir Rs 7,000 crore for nan January-March quarter. This summation contrasts pinch an yearly decline, wherever pre-sales dropped 19% to complete Rs 17,000 crore for nan fiscal twelvemonth 2024-25.

The simplification successful yearly income bookings has been attributed to deferred launches caused by support delays, resulting successful nan institution not gathering its Rs 24,000 crore yearly target. The 4th fourth saw a 9% summation successful income volume, reaching 4.49 cardinal quadrate feet, pinch 2,301 units sold. The mean realisation for apartments, villas, and commercialized properties accrued by 25% to Rs 15,524 per quadrate foot, while plotted developments saw a 27% emergence to Rs 6,975 per quadrate foot.

Despite these challenges, Irfan Razack, Chairman and Managing Director of Prestige Group, highlighted nan company's attraction connected customer-centric offerings. Razack noted, 'FY25 brought pinch it a operation of achievements and challenges. Despite delays successful task approvals that deferred a fewer cardinal launches into nan adjacent fiscal, nan last 4th saw beardown traction successful income and an encouraging uptick successful realisations.' The wide income measurement for FY25 was 12.58 cardinal quadrate feet, a 38% alteration year-on-year. However, nan mean realisation for apartments and commercialized properties roseate sharply by 36% to Rs 14,113 per quadrate foot, pinch crippled waste realisation expanding by 50% to Rs 7,167 per quadrate foot.

Prestige Estates remains optimistic astir early growth, pinch Razack stating, 'Our attraction connected customer-centric offerings and premium positioning has besides translated into meaningful maturation successful per quadrate ft realisations. FY26 is group to beryllium a defining twelvemonth for Prestige Group arsenic we grow into newer markets, launching marquee projects successful NCR and Mumbai and achieving our maiden residential completions successful Mumbai.' He further expressed assurance successful scaling caller heights, 'With approvals progressing and nan request situation holding steady, we are optimistic astir scaling caller heights successful nan coming twelvemonth and deepening our beingness crossed cardinal geographies.'

Published on: Apr 18, 2025 1:26 PM IST