Prestige Estates Begins FY27 with ₹6,579.3 Crore Pre-Sales; Launches 20.16 Million sq. ft. Across Four Projects

What Happened ?

key details

Operational Highlights:

• Residential pre-sales reached ₹6,579.3 crore with sales of 6.04 million sq. ft. across 3,337 units.
• Customer collections remained strong at ₹4,802.2 crore.
• Hyderabad contributed 49% of quarterly sales, followed by:
  • Bengaluru – 27%
  • Mumbai – 12%
  • NCR – 7%
  • Other markets – 5%
• Average residential realization stood at ₹11,193 per sq. ft., while plotted developments achieved ₹8,043 per sq. ft.
• Four projects were launched during the quarter with a combined developable area of 20.16 million sq. ft., including:
  • Prestige Golden Grove – Hyderabad
  • Prestige Gardenia Estates Phase II – Bengaluru
  • Prestige Forest Hills @ TPC Mulund Phase II – Mumbai
  • Prestige Century Landmark – Bengaluru (Commercial)
• Three projects totaling 4.37 million sq. ft. were completed:
  • Prestige Tech Forest – Bengaluru
  • Prestige Sanctuary – Bengaluru
  • Prestige Cityscape – Kochi
• Commercial portfolio recorded 1.5 million sq. ft. of gross leasing with exit rentals of ₹756 crore.
• Retail portfolio generated ₹737 crore in gross turnover, representing 18% year-on-year growth, while attracting 5.2 million mall footfalls.
• Retail exit rentals stood at ₹277.6 crore.
• The hospitality segment reported healthy occupancy and competitive average room rates supported by sustained business and leisure travel demand.

Note:

• Management highlighted that healthy collections, resilient annuity businesses, and an upcoming pipeline of marquee launches across Mumbai, NCR, Bengaluru, and Chennai position the company for continued growth during FY27.

Risk Analysis

Summary:

• Despite strong operational momentum, future performance will depend on sustained residential demand, successful execution of new launches, leasing activity, and broader real estate market conditions.

Key Risks:

• Residential sales remain dependent on continued buyer demand across key markets.
• Execution delays could affect revenue recognition from newly launched projects.
• Commercial leasing activity may fluctuate with corporate demand.
• Interest rate movements and financing conditions may influence homebuyer sentiment.
• Real estate approvals and project execution timelines remain important operational factors.

Worst Case:

• A slowdown in property demand or delays in project execution could reduce sales momentum and postpone revenue realization from the company’s sizeable development pipeline.

Risk Level: Medium

Company Commentary

• FY27 has begun with healthy performance across residential, commercial, retail, hospitality, and property management businesses.
• Prestige Golden Grove in Hyderabad received an excellent market response, making Hyderabad the largest contributor to quarterly sales.
• The company has a strong pipeline of marquee launches planned across Mumbai, NCR, Bengaluru, and Chennai during the festive season.
• Healthy collections and resilient annuity businesses provide confidence in sustaining growth throughout FY27.