Prestige Estates reports 48% rise in Q4 sales bookings

Prestige Estates Projects has announced a substantial 48% rise in sales bookings to nearly Rs 7,000 crore for the January-March quarter. This increase contrasts with an annual decline, where pre-sales dropped 19% to over Rs 17,000 crore for the fiscal year 2024-25.

The reduction in annual sales bookings has been attributed to deferred launches caused by approval delays, resulting in the company not meeting its Rs 24,000 crore annual target. The fourth quarter saw a 9% increase in sales volume, reaching 4.49 million square feet, with 2,301 units sold. The average realisation for apartments, villas, and commercial properties increased by 25% to Rs 15,524 per square foot, while plotted developments saw a 27% rise to Rs 6,975 per square foot.

Despite these challenges, Irfan Razack, Chairman and Managing Director of Prestige Group, highlighted the company's focus on customer-centric offerings. Razack noted, 'FY25 brought with it a mix of achievements and challenges. Despite delays in project approvals that deferred a few key launches into the next fiscal, the final quarter saw strong traction in sales and an encouraging uptick in realisations.' The overall sales volume for FY25 was 12.58 million square feet, a 38% decrease year-on-year. However, the average realisation for apartments and commercial properties rose sharply by 36% to Rs 14,113 per square foot, with plot sale realisation increasing by 50% to Rs 7,167 per square foot.

Prestige Estates remains optimistic about future growth, with Razack stating, 'Our focus on customer-centric offerings and premium positioning has also translated into meaningful growth in per square foot realisations. FY26 is set to be a defining year for Prestige Group as we expand into newer markets, launching marquee projects in NCR and Mumbai and achieving our maiden residential completions in Mumbai.' He further expressed confidence in scaling new heights, 'With approvals progressing and the demand environment holding steady, we are optimistic about scaling new heights in the coming year and deepening our presence across key geographies.'