Prestige Estates to Launch 43 New Real Estate Projects Across 7 Cities
The company has a total land bank of 260 acres across Bengaluru, Mangaluru, Mysuru, and Pune.
Prestige EstatesReal EstateResidential ProjectsCommercial ProjectsRetail ProjectsHospitality SegmentReal Estate PuneAug 06, 2024
The company has shared its plans in an investor presentation, which reveals that the upcoming projects will have a total developable area of 92 million square feet. Out of the 43 projects, 28 are residential, 5 are commercial, and 10 are retail projects.
In the residential segment, Prestige Estates has a pipeline of 28 projects, including a developable area of 73 million square feet. These projects will be undertaken in Bengaluru, Mumbai, Chennai, Hyderabad, Delhi-NCR, and Goa. The company currently has 39 residential projects under construction, with a combined developable potential of 66 million square feet.
In the commercial segment, Prestige Estates has five projects on the anvil, with a combined developable potential of 8 million square feet. They will be centered in Bengaluru, Chennai, and Kochi. The company has another 12 projects under construction, spanning 23 million square feet, across Bengaluru, Mumbai, and Delhi.
Prestige Estates currently has one retail project under construction in Bengaluru, spread across a million square feet. Future plans include 10 projects spanning 11 million square feet across Bengaluru, Hyderabad, Chennai, Mumbai, and Goa.
The company has also announced its plans to expand its footprint in the hospitality segment, with 10 projects involving 2,034 keys.
Prestige Estates has reported a consolidated net profit of ₹307 crore in the first quarter of FY25, down 3.4% from the same period last year. The company's revenue from operations stood at ₹1,862.1 crore during the three-month period against ₹1,680.9 crore in the corresponding quarter last year.
The company's CMD, Irfan Razack, announced a robust sales performance across key regions like Bengaluru (43%), Hyderabad (32%), and Mumbai (23%). The realty player is expected to expand its footprint to the Delhi-NCR market in the next fiscal quarter with three projects.
Prestige Estates presently holds a land bank totaling 260 acres across Bengaluru, Mangaluru, Mysuru, and Pune.
Prestige Estates is a leading real estate developer in India, with a strong presence in Bengaluru, Mumbai, Chennai, Hyderabad, and other cities. The company has a diversified portfolio of residential, commercial, retail, and hospitality projects.
Prestige Estates is a Bengaluru-based real estate conglomerate with a rich history of delivering quality projects across various segments.
Frequently Asked Questions
How many new projects is Prestige Estates planning to launch?
43 projects across residential, commercial, and retail segments
In which cities will the new projects be launched?
Hyderabad, Delhi-NCR, Goa, Bengaluru, Mumbai, Chennai, and Kochi
What is the total developable area of the upcoming projects?
92 million square feet
How many residential projects does Prestige Estates have under construction?
39 projects with a combined developable potential of 66 million square feet
What is the company's net profit in the first quarter of FY25?
₹307 crore, down 3.4% from the same period last year
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