Image Source: Outlook Business
Prestige Estates Projects Ltd, one of the top real estate developers in India, has unveiled an ambitious plan to roll out 25 new residential projects valued at over ₹42,000 crore in FY26. This marks one of the most significant expansion efforts in the sector this year. The projects will be located in major cities like Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa, covering a total developable area of 44.8 million sq ft.
This bold move comes on the heels of a tough FY25, during which Prestige encountered delays in regulatory approvals, leading to a 19% drop in sales bookings, totaling ₹17,023 crore, and a notable decline in net profit. Nevertheless, the company experienced a substantial increase in average realization per square foot, reflecting a strong demand for quality real estate despite the temporary slowdown.
Key Highlights
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- Prestige is set to launch 25 residential projects in FY26, aiming for a gross development value (GDV) of ₹42,120 crore.
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- Major launches are on the horizon in Bengaluru, Chennai, Hyderabad, Mumbai, and Delhi-NCR, including the impressive 62.5-acre ‘Prestige City’ township in Ghaziabad.
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- The Ghaziabad project alone is projected to generate ₹12,000 crore in revenue, with the first phase offering 3,421 homes across 19 towers.
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- The company is also concentrating on plotted developments in Bengaluru and large apartment townships in key metropolitan areas.
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- Prestige aims to tackle the ongoing demand-supply gap in the mid-income housing segment by customizing apartment sizes and pricing to meet market needs.
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- In FY25, Prestige launched 26.28 million sq ft of projects with a GDV of ₹26,222.8 crore but fell short of its sales target due to postponed launches.
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- The average realization for apartments, villas, and commercial properties surged by 36% year-on-year to ₹14,113 per sq ft, while plot sale realization skyrocketed by 50% to ₹7,167 per sq ft.
With regulatory approvals now in place for most projects, Prestige Group is poised to regain momentum and capitalize on strong consumer demand, especially in the mid-segment housing market. Chairman Irfan Razack emphasized the company’s commitment to customer-centric offerings and premium positioning, making FY26 a defining year for Prestige’s growth trajectory.
Source: The Economic Times, Business Standard, Projects Today, Star Estate, Financial Express
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