Prestige Estates sales bookings decline 38% to Rs 10,000 cr in Apr-Dec
Real estate firm Prestige Estates Projects' sales bookings have declined 38% to Rs 10,065.7 crore during the April-December period of this fiscal year as it launched fewer housing projects due to delay in regulatory approvals.
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Bengaluru-based Prestige Estates is one of the leading real estate developers of the country.
According to its latest investors presentation, the company sold 8.09 million sq ft area at an average sales realisation of Rs 13,128 per sq ft during the first nine months of the 2024-25 fiscal year.
The number of units sold was 3,618, while sales value stood at Rs 10,065.7 crore and collection from customers at Rs 8,910.9 crore.
Despite fall in total sales bookings in the first nine months of this fiscal year, Prestige Estates is confident of achieving Rs 24,000 crore pre-sales in the full fiscal year as housing demand continues to be strong. In the 2023-24 fiscal year, Prestige Estates Projects reported a 63% annual increase in sales bookings at record Rs 21,040 crore from Rs 12,931 crore in the preceding financial year.
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