Prestige Estates achieves record sales bookings in FY'24 at Rs 21,040 crore
Prestige Estates Projects Ltd on Monday reported a 63 per cent annual increase in sales bookings during the last financial year at Rs 21,040 crore — an all time high, on strong demand for its residential properties and higher average per square feet realisation. The company's sales bookings stood at Rs 12,931 crore in the financial year 2022-23.
Among listed players, Prestige Estates is likely to become the largest real estate developer in the country in terms of sales bookings. DLF, Godrej Properties, Macrotech Developers, Prestige achieved sales bookings of more than Rs 10,000 crore in 2022-23.
In a regulatory filing, Bengaluru-based Prestige Estates informed that the company achieved the highest-ever annual sales.
«Prestige Group achieved a record-breaking sales milestone of Rs 21,040 crore for FY24, marking a growth of 63 per cent year-on-year,» it said.
The company attained the highest-ever annual collections of Rs 11,954 crore for FY24, a growth of 22 per cent year-on-year (YoY).
Prestige Estates said it achieved record sales bookings in volume terms as well totalling 20.25 million square feet in 2023-24, up 34 per cent in the previous year.
«Achieved the highest-ever number of units sold, with 10,068 units sold in FY2024; achieved the highest average realization at Rs 10,410 per square feet in FY24.
»Achieved highest-ever annual launches in a year, with total project launches totalling total development area (TDA) aggregating to 40.19 million sq ft in FY 24, up by 52 per cent YoY," the filing said.
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