Prestige Estates to launch Rs 52,000-cr housing projects by March 2025 amid strong demand
Prestige Estates Projects Ltd plans to launch housing projects worth Rs 52,000 crore by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 52,114 crore.
According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 24,000 crore.
During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 21,040 crore.
Prestige Estates recorded sales of Rs 4,022.6 crore in the September quarter as against Rs 7,092.6 crore in the year-ago period.
During the April-September period, the company's sales bookings fell to Rs 7,052.2 crore as against Rs 11,007.3 crore in the corresponding period last year.
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