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Informist, Thursday, Jul. 16, 2026

 

--Prestige Estates Apr-Jun residential pre-sales at INR 65.79 bln 

--Prestige Estates Apr-Jun residential pre-sales volume at 6.04 mln sq ft 

--Prestige Estates Apr-Jun residential collections at INR 48.02 bln 

--Prestige Estates Q1 residential pre-sales at INR 65.79 bln, down 45.7% YoY 

 

MUMBAI – Prestige Estates Ltd. on Thursday informed exchanges that its pre-sales for the June quarter halved on year to INR 65.79 billion. In the year-ago quarter, the company had clocked a record high pre-sales of INR 121.26 billion, led by sales in Delhi. The company sold 6.04 million square feet and 3,337 units during the quarter under review.

 

This time, Hyderabad contributed the highest to total sales at 49%, followed by Bengaluru, which accounted for 27%, and Mumbai, which made 12% of sales. The company achieved an average realisation of INR 11,193 per square foot for apartments, while the average realisation for plotted developments stood at INR 8,043 per square foot. The collections for the quarter were INR 48.02 billion, up 6%. 

 

During the quarter, the company launched four residential projects with a combined developable area of 20.16 million square feet, and a gross development value of approximately INR 120 billion. The company completed three projects during the quarter with a total developable area of 4.37 million square feet, namely, Prestige Tech Forest, Prestige Sanctuary, and Prestige Cityscape.  

 

Prestige Estates' commercial office portfolio saw healthy demand, with gross leasing of 1.5 million square feet during the quarter. As of Jun. 30, exit rentals for this portfolio stood at INR 7.56 billion. The company's retail portfolio made a gross turnover of INR 7.37 billion, growing 18% on year. The company's malls recorded a footfall of 5.2 million during the quarter, reflecting sustained consumer demand and retailer confidence. At the end of June quarter, exit rentals for the retail portfolio came in at INR 2.78 billion.

 

The hospitality business delivered a healthy operating performance during the quarter, recording competitive average room rates and strong occupancy levels, supported by continued growth in business and leisure travel demand, Prestige said.

 

For the March quarter, the company reported a consolidated net profit of INR 2.50 billion on revenue of INR 40.74 billion. At 1256 IST, shares of the company traded 3% lower at INR 1,635.70 on the National Stock Exchange.  End 

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Gopika Balasubramanium

Edited by Deepshikha Bhardwaj

 

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