Latest news with #ThePrestigeCity
Business Upturn
10-07-2025
- Business
- Business Upturn
Prestige Estates shares rise as Q1 FY26 sales surge 300% to Rs 12,126 crore, highest-ever quarterly performance
By Aditya Bhagchandani Published on July 10, 2025, 09:38 IST Shares of Prestige Estates Projects Ltd. traded higher by over 1.2% at ₹1,670 on Wednesday morning after the company reported its best-ever quarterly sales and collections for the first quarter of FY26. In its business update, the real estate developer announced that sales in Q1 FY26 aggregated to ₹12,126.4 crore, registering an impressive 300% year-on-year growth. Sales volume also jumped sharply to 9.55 million square feet, up 234% YoY, with 4,718 units sold during the quarter. Average realization stood at ₹13,339 per square foot for apartments and ₹7,343 per square foot for plotted developments. Collections for the quarter also climbed by 55% YoY to ₹4,522.7 crore, further demonstrating strong operational performance. Prestige Estates launched four residential projects spanning 14.94 million square feet, including its first-ever project in the NCR market — The Prestige City, Indirapuram — which saw about 80% of its inventory sold at launch, reflecting robust demand and growing brand presence in North India. Commenting on the milestone quarter, Irfan Razack, chairman and managing director, said, 'Q1 FY26 has been a milestone quarter for Prestige, with significant progress across multiple fronts. The launch of The Prestige City in NCR received an exceptional response, showcasing customer confidence and our rising brand equity in the region. This achievement, coupled with our first completions in Mumbai, reinforces our execution capabilities in India's most dynamic markets.' The company's strong performance this quarter underscores its growing footprint in key markets, backed by a mix of plotted developments, integrated townships, and premium apartments, catering to diverse homebuyers. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Standard
09-07-2025
- Business
- Business Standard
Prestige Estate records 300% YoY growth in sales in Q1
Prestige Estates Projects said that its sales for Q1 FY26 aggregated to Rs 12,126.4 crore, marking a 300% growth over the same period last year. Sales volume for the period under review stood at 9.55 million square feet, a 234% increase YoY. The company sold 4,718 units in Q1 FY26. Average realization stood at Rs 13,339 per square foot for apartments while plotted developments fetched Rs 7,343 per square foot in Q1 FY26. The collections jumped 55% YoY to Rs 4,522.7 crore in Q1 FY26. The company launched four residential projects totaling 14.94 million square feet during the quarter, including its first-ever launch in the NCR region. These launches featured a mix of plotted developments and integrated townships, catering to diverse homebuyer segments. Irfan Razack, chairman and managing director, Prestige Group, said: Q1 FY26 has been a milestone quarter for Prestige, with significant progress across multiple fronts. We made a strong entry into the NCR market with the launch of The Prestige City, Indirapuram, which received an exceptional response with about 80% of the inventory sold at launcha clear reflection of customer confidence and our growing brand equity in North India. This played a key role in delivering our highest-ever quarterly sales and collections. We also marked our first completions in Mumbai, further reinforcing our execution capabilities in Indias most dynamic cities. In parallel, the filing of the DRHP for our hospitality platform signals our intent to unlock long-term value across verticals. This quarter reflects the momentum, diversification, and execution strength driving the next phase of Prestiges growth. Prestige Group is one of Indias most respected and diversified real estate developers, with a legacy of almost four decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. The companys consolidated net profit declined 82.1% to Rs 25 crore on 29.4% fall in net sales to Rs 1528.40 crore in Q4 FY25 over Q4 FY24. The counter declined 0.66% to settle at Rs 1649.35 on the BSE.
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Business Standard
09-07-2025
- Business
- Business Standard
Prestige Estates Q1 pre-sales surges on robust demand for Ghaziabad project
Realty firm Prestige Estates Projects Ltd on Wednesday reported a 4-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of this fiscal, mainly on strong demand for its housing project in Ghaziabad. The company's sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago period. In a regulatory filing, the company informed that it has "kicked off FY26 with its strongest quarterly performance to date, clocking an all-time high of Rs 12,126.4 crore in sales in the quarter ended June 30, 2025 (Q1 FY26), marking a 300 per cent growth over the same period last year". The company sold 4,718 units, translating to a sales volume of 9.55 million square feet, up 234 per cent year-on-year. The average price realisation stood at Rs 13,339 per square feet for apartments while plotted developments fetched Rs 7,343 per square feet. Irfan Razack, Chairman and Managing Director of Prestige Group, said the April-June quarter has been a milestone quarter for Prestige, with significant progress across multiple fronts. "We made a strong entry into the NCR market with the launch of The Prestige City, Indirapuram, which received an exceptional response with about 80 per cent of the inventory sold at launch - a clear reflection of customer confidence and our growing brand equity in North India," he added. The NCR project played a key role in delivering its highest-ever quarterly sales, Razack said. As of March 2025, the group has delivered 302 projects spanning 193 million sq ft and currently has a pipeline of 130 projects across 203 million square feet. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
08-05-2025
- Business
- Mint
NCR is an important market for Prestige, says chairman Irfan Razack
Bengaluru: Prestige Group, one of the fastest growing real estate firms, has entered the National Capital Region (NCR) residential property market as it looks to broaden its presence across geographies. The Bengaluru developer has launched the first phase of 'The Prestige City' – a 62.5 acre, mixed-use township in Ghaziabad's Indirapuram Extension. The project, which will have a total gross development value (GDV) of ₹ 12,000 crore, is Prestige's biggest launch this year. The real estate firm said it had already sold around 1,200 units for around ₹ 3,000 crore within a week of launching the project. The Delhi-NCR property market is not entirely new for the Prestige Group. It is currently developing a mixed-use project at Delhi's Aerocity. The project will have two hotels under the 'St Regis' and 'Marriott Marquis' brands, along with convention and office space. Prestige now wants to make it big as a residential developer in the market. 'NCR is an important market for us. Each property market has its own nuances, price points and customer preferences and we have to plan projects accordingly. The location of a project is also a key factor. I think we have priced the Indirapuram project sensibly, and it has found favour among customers,' Prestige Group's chairman and managing director Irfan Razack told Mint in an interview. The apartments at Prestige City-Indirapuram are priced between ₹ 1.5 crore and ₹ 4 crore. It will also have villaments, and 4000-6000 sq ft penthouses. Unlike MMR, a property market that it entered a little over three years ago, where sourcing land is an issue, Prestige pursued the redevelopment route to expand its portfolio. Razack said in the NCR market, it will look to build the business through greenfield projects. It will do a mix of outright land buying and joint developments. Besides the Indirapuram project, Prestige plans to develop a niche luxury project in KG Marg, Delhi, going forward, and has another project lined up in Noida's Sector 150. Both projects need to receive regulatory approvals. 'We are looking at more opportunities in Gurugram, Delhi and other places, but we will acquire land only if it makes sense to us,' Razack said. Prestige's entry into NCR, once India's largest property market, is during a time when residential sales have been strong, and large, branded developers have gained market share. In NCR, Prestige will compete with the likes of DLF Ltd, India's largest real estate firm in Gurugram, and Godrej Properties Ltd in Noida, among others.
Time of India
07-05-2025
- Business
- Time of India
Prestige Estates shares in focus after Rs 3,000 crore debut in NCR with The Prestige City
Live Events Prestige Estates share price target Prestige Estates share price performance Shares of Prestige Estates Projects are expected to remain in focus on Wednesday after the company clocked over Rs 3,000 crore in sales within a week of launching its first residential project in the National Capital Region (NCR). The project, The Prestige City , located in Indirapuram, sold 1,200 units during the initial launch marks the Bengaluru-based developer's debut in NCR's residential market. The company attributed the strong response to its brand equity, strategic location, and growing demand for premium residential communities in urban across 62.5 acres in Indirapuram Extension along National Highway 24, the current launch includes two phases—Oakwood and Mulberry—offering 3,421 homes across 19 towers.A third phase, Mayflower, is in the pipeline and will further expand the residential offering. The larger township will also feature a Forum Mall spanning 1.18 million sq ft, adding retail and entertainment options to the integrated development.'We are delighted with the overwhelming response to our first residential project in NCR. The year ahead is particularly exciting, with significant launches planned across Bengaluru, Chennai, Goa, NCR, Mumbai, and Hyderabad,' said Irfan Razack, Chairman and Managing Director, Prestige to Trendlyne data, the average target price for the stock is Rs 1,656, implying an upside of 24% from current levels. The consensus recommendation from 19 analysts remains a 'Buy'.On Tuesday, Prestige Estates shares closed 3.9% lower at Rs 1,330.70 on the BSE, while the benchmark Sensex declined 0.19%. The stock has fallen 20% year-to-date but has gained 172% over the past two years. Its current market capitalisation stands at Rs 57,317 crore.
