Prestige Estates Aims for Ambitious 30% Sales Growth in FY25
Realty major Prestige Estates targets significant sales increase in FY25
Real EstatePrestige EstatesSales GrowthFy25Property MarketReal Estate NewsMay 29, 2024
The Bengaluru-based realty firm reported a revenue of Rs 21,040 crore during FY24, a 63% increase from Rs 12,931 crore during the same period last year. The company's highest ever annual collections of Rs 11,954 crore, up 22%, are a testament to its strong performance.
Prestige Estates has completed 300 projects and delivered 25 million square feet of area in FY24. It launched a total of 9.35 million square feet of properties in Q4. The company has also signed a deal with ADIA Kotak AIF for Rs 2,001 crore for four projects in Bengaluru, Delhi, and Mumbai.
Additionally, Prestige Estates acquired 62.5 acres of land at Indirapuram extension-NCR with a development potential of 10 million square feet and sales potential of Rs 10,000 crore. The project is poised to be launched sometime in August-September.
Irfan Razack, chairman and managing director, Prestige Group, attributed the company's success to the trust of its customers and the dedication of its team. The strategic initiatives, including significant acquisitions and successful partnerships, have not only contributed to our financial success but also strengthened our position as a leading real estate developer, he added.
The management is confident about its sales prospects, with about Rs 60,000 crore worth of launches in the pipeline.
Prestige Estates Projects is a leading real estate developer in India, with a strong presence in Bengaluru, Delhi, and Mumbai. The company has completed over 300 projects and delivered over 25 million square feet of area.
Prestige Group is a renowned real estate developer in India, known for its commitment to quality and customer satisfaction. With a strong track record of delivering projects on time, the company has established itself as a trusted name in the industry.
Frequently Asked Questions
What is Prestige Estates' sales growth target for FY25?
Prestige Estates aims to increase its annual sales by 25-30% in FY25
What is the revenue of Prestige Estates in FY24?
Prestige Estates reported a revenue of Rs 21 040 crore during FY24 a 63% increase from Rs 12 931 crore during the same period last year
What is the development potential of the land acquired by Prestige Estates at Indirapuram extension-NCR?
The land has a development potential of 10 million square feet and sales potential of Rs 10 000 crore
How many projects has Prestige Estates completed?
Prestige Estates has completed over 300 projects
What is the worth of launches in the pipeline for Prestige Estates?
The management said it has about Rs 60 000 crore worth of launches in the pipeline
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