Prestige Group Announces Ambitious ₹42,000 Crore Housing Project Launches in FY26
Prestige Estates Projects Ltd is set to launch 25 residential projects in major Indian cities, aiming for a gross development value of over ₹42,000 crore in the 2026 fiscal year. This strategic expansion follows a year of regulatory delays and a dip in sales bookings.
Real EstatePrestige GroupHousing ProjectsBengaluruMumbaiReal Estate MumbaiJun 01, 2025
The projects, spread across Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa, will cover a total developable area of 44.80 million square feet. According to the company's latest investor presentation, these launches are designed to capitalize on the robust consumer demand in the real estate market.
In the 2024-25 fiscal year, Prestige Estates launched 26.28 million square feet of projects with a combined gross development value of ₹26,222.8 crore. However, the company faced challenges, with sales bookings declining by 19% to ₹17,023.1 crore. The decline was attributed to deferred launches and approval delays, which prevented the company from achieving its targeted sales bookings of ₹24,000 crore.
Despite these setbacks, the company reported impressive growth in average realisation. The average realisation for apartments, villas, and commercial products rose to ₹14,113 per square foot, a 36% increase year-on-year. Plot sale realisation also saw a significant boost, increasing to ₹7,167 per square foot, a 50% Y-o-Y growth.
On the financial front, Prestige Estates' net profit fell sharply to ₹467.5 crore in the 2024-25 fiscal year, down from ₹1,374.1 crore in the previous year. Total income also declined to ₹7,735.5 crore, from ₹9,425.3 crore in the 2023-24 fiscal year.
Prestige Group, with a track record of developing over 300 projects, is known for its commitment to quality and innovation in the real estate sector. The company's strategic expansion in FY26 is expected to strengthen its market position and drive growth in the coming years.
The new projects will feature modern amenities and sustainable design, aligning with the growing demand for eco-friendly and technologically advanced living spaces. With a focus on major cities, Prestige Group aims to meet the diverse needs of homebuyers and investors, further solidifying its reputation as a leading real estate developer in India.
Frequently Asked Questions
What is the total gross development value of Prestige Group's new projects in FY26?
The total gross development value of Prestige Group's new projects in FY26 is estimated to exceed ₹42,000 crore.
How many residential projects is Prestige Group planning to launch in FY26?
Prestige Group plans to launch 25 residential projects in FY26.
Which cities will see the new projects by Prestige Group?
The new projects by Prestige Group will be launched in Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa.
What was the impact of regulatory delays on Prestige Group's sales bookings in the 2024-25 fiscal year?
Prestige Group's sales bookings in the 2024-25 fiscal year declined by 19% to ₹17,023.1 crore, reflecting the impact of deferred launches due to regulatory delays.
What is the average realisation per square foot for Prestige Group's residential projects in the 2024-25 fiscal year?
The average realisation per square foot for Prestige Group's residential projects in the 2024-25 fiscal year was ₹14,113, a 36% increase year-on-year.
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