Real estate developer Prestige Estate has registered the highest ever sales of Rs 11007.3 crore, up by 69% yoy and Collections of Rs 5380.6 crore, up by 13% yoy.
The sales during this period are attributed to 10.7 mn sft sales volume with an average realization of Rs 10,338 per sft for apartment villas and an average realisation of Rs 4,825 per sft for plot sales.
The Group sold 5935 units during H1 FY24.
Irfan Razack, Chairman and Managing Director of Prestige Group, said, “What makes our achievements even more noteworthy is that in just the first six months of FY24, we have achieved sales of Rs 11,007 cr, which is close to the sales of the entire 12 months of FY23, of Rs 12,931 cr. We are poised for continued growth throughout the rest of the year.
We believe that the best is yet to come, and we are excited to shape the future of real estate with innovation, quality, and determination.”
During Q2 FY24, the Group registered Sales of Rs 7092.6 crore, up by 102% yoy and quarterly collections of Rs 2639.8 crore. The sales during this period is attributed to 6.84 mn sft (up by 50% yoy) sales volume with an average realization of Rs 10,369 per sft, up by 29% yoy for apartments and villas and average realization of Rs 6,753per sft, up by 62% yoy for plot sales.
The group sold 3659 units during Q2 FY24.
During the first half of FY24, the new launches totalled 16.20 mn sft. The total completions during the half year stood at 8.11 mn sft.
Venkat K Narayana, Chief Executive Officer of Prestige Group, said, “This quarter has been marked by significant launches, including Prestige Park Grove and Prestige Serenity Shores, which received overwhelming responses, contributing to over Rs 5000 cr of the quarterly sales.