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.
Related News Articles
Maharashtra's Real Estate Market Sees Upsurge in Property Registrations
Maharashtra's real estate market experiences a boost in property registrations and revenue despite unchanged RR rates, indicating a shift towards high-value transactions.
Top Stock Picks for Short-Term Gains: Bajaj Finserv, HDFC Life, HDFC Bank, and LIC Housing Finance
Market tech analysts Soni Patnaik, Mitessh Thakkar, and F&O analyst Rajesh Palviya recommend these stocks for short-term gains.
3 Financial Stocks Show Promise, Real Estate Overhyped: Samir Arora
Samir Arora, Founder of Helios Capital, highlights the potential of some NBFCs and microfinance companies, while expressing concerns about the real estate sector being overdone. He believes that HDFC Bank, Kotak Bank, and Bajaj Finance, which have underpe
NBT Office Relocation and Pune Book Festival Expected to Draw 7.5 Lakh Visitors
The National Book Trust (NBT) is set to shift its office to the city, a move that coincides with the highly anticipated Pune Book Festival. The festival, expected to attract 7.5 lakh visitors, is a significant cultural event that showcases a wide array of
Metro Brands Promoters Acquire Five Luxury Apartments in Mumbai's Worli for ₹405 Crore
The promoters of footwear retailer Metro Brands have made a significant investment in Mumbai's luxury real estate market by purchasing five apartments in the Worli area for ₹405 crore. These apartments are located in one of the city's tallest buildings, P
Maharashtra Real Estate: Majority of Developers Update Project Details for MahaRERA Compliance
A significant number of real estate developers in Maharashtra have taken steps to improve their compliance with the Maharashtra Real Estate Regulatory Authority (MahaRERA) by updating their project details. This move reflects a growing commitment to trans