We want to build up a new portfolio Prestige 2.0 and monetise it by way of a REIT or IPO: Irfan Razack, Prestige Estate
Irfan Razack, CMD, Prestige Estate, says “momentum will continue in the next financial year also. But again, it all depends on your location, the type of product, the type of pricing that you have on the product – that is what will give you success. Of course, the players who have delivered in the past, they have benefited, including our company and we have consistently focussed on delivery and that is what has given confidence to buyers to come to us to get their housing needs.
Let us just talk about the overall demand environment and how it really has shaped up as we step into 2024. Do you believe that it is only likely to sustain? Give us an on-ground picture.
Irfan Razack: Yes, the last three years have been pretty robust.
The demand did pick up, sales did pick up, and I believe that this tendency and this momentum will continue in the next financial year also. But again, it all depends on your location, the type of product, the type of pricing that you have on the product – that is what will give you success. Of course, the players who have delivered in the past, they have benefited, including our company and we have consistently focussed on delivery and that is what has given confidence to buyers to come to us to get their housing needs.
But talking about your company specifically, the FY24 presale guidance is of around Rs 16,000 crore. You have already managed to do almost 70% of that. Are you looking at upping the guidance? Maybe you are likely to do 18,000-20,000 crores?
Irfan Razack: Yes, probably that will happen because this quarter has nearly ended.
