Prestige Estates, one of the prominent real estate developers, has launched an aggressive expansion initiative by bringing on board projects with a total area of 14 million square feet across priority markets in the fourth quarter. The strategic initiative reflects the company's belief in the Indian real estate market's growth prospects.
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Launch Pipeline: Prestige Estates is part of a larger trend in the real estate industry, which is likely to witness record launches of Rs 60,000 crore in Q4 FY25. Half of them are credited to Prestige Estates itself, and the lion's share is in Bengaluru.
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Project Locations: The group is concentrating on key cities such as Bengaluru, Hyderabad, Chennai, and Delhi-NCR, where demand for residential property is strong.
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Sales Guidance: Prestige Estates is targeting its sales bookings of Rs 24,000 crore for the year, capitalizing on its highest-ever sales of Rs 21,040 crore in FY24.
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Market Strategy: While luxury housing slowed down, Prestige Estates is expanding its offerings to mid-income and premium segments and venturing into new markets such as Pune.
This launch is a milestone for Prestige Estates, solidifying its position as a key player in India's real estate sector.
Sources: Financial Express, Business Standard, Moneycontrol