'Not a small amount': This Bengaluru realty firm holds Rs 65,000 crore of unrecognised revenue in books

Realty firm Prestige Estates Projects Ltd has around Rs 65,000 crore of unrecognised revenue in its books, driven by strong housing sales over the last three financial years, its Chairman Irfan Razack said.

"We have got about Rs 65,000 crore of unrecognised revenue in the book. It is not a small amount," Razack told news agency PTI.

The Bengaluru-based developer follows the completion method for recognising revenue, under which income is booked only after a project is completed.

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Razack said the company is in discussions with auditors to shift to the percentage of completion method.

The company posted record sales bookings of Rs 30,024 crore in 2025-26, a 76 per cent increase from the previous fiscal.

Buoyed by sustained housing demand despite global economic uncertainties arising from the West Asia conflict, Prestige Estates expects both sales bookings and project launches to improve further in the current financial year.

Razack said the company is targeting sales bookings, or pre-sales, of Rs 35,000-36,000 crore in 2026-27. The developer has a launch pipeline worth around Rs 58,000 crore across major cities this fiscal, although actual launches will depend on regulatory approvals.

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In 2025-26, Prestige Estates launched 32 million square feet of projects with a sales booking potential of Rs 27,350 crore.

The company recently reported that its net profit more than doubled to Rs 1,195.5 crore in 2025-26 from Rs 467.5 crore in the previous year. Total income rose to Rs 13,195.5 crore from Rs 7,735.5 crore.

Prestige Estates is among India’s leading real estate developers, with a presence across major cities. The group has delivered 313 projects spanning 206 million square feet and has a pipeline of 128 projects covering 195 million square feet.

The company develops residential, commercial and hospitality projects across the country.

(With inputs from PTI)