Prestige Group Launches 620 Premium Homes in Ghaziabad, Eyes Rs 2,200 Crore Revenue

Prestige Estates Projects Ltd, a leading real estate developer, has announced the launch of 620 new flats in Ghaziabad, with an estimated revenue of Rs 2,200 crore. This launch is part of the company's strategic expansion to tap into the growing demand for premium residential properties in the Delhi-NCR region.

The new project, 'Mayflower', is the second phase of the 'The Prestige City, Indirapuram' township, which is spread across 62.5 acres in Indirapuram Extension on National Highway 24. The first phase of the township, comprising two housing projects, Oakwood and Mulberry, included 3,421 units with a total sales value of around Rs 9,000 crore.

Praveer Shrivastava, Senior Executive VP, Residential, Prestige Group, stated that the total estimated gross development value (GDV) of the new phase is around Rs 2,200 crore. The successful launch of this project has contributed significantly to Prestige Estates' healthy growth in sales bookings during the first six months of this fiscal year.

Recently, the company reported a 50% increase in its sales bookings to Rs 6,017.3 crore during the second quarter of this fiscal year, driven by robust housing demand. In a regulatory filing, the company noted that the growth in sales bookings or pre-sales was driven by strong demand across markets and segments.

The company's sales volume for the September quarter stood at 4.42 million square feet, up 47% year-on-year. It sold 2,069 units during the July-September period. The average realisation for apartments rose 8% year-on-year to Rs 14,906 per square foot, while plots saw a sharp 43% increase to Rs 9,510 per square foot.

For the first half of this fiscal year, Prestige Estates achieved record sales of Rs 18,143.7 crore, up 157% year-on-year. The company has surpassed the total sales bookings achieved in the 2024-25 fiscal year. Its sales volumes aggregated 13.96 million square feet, representing 6,788 units sold, during the April-September period of this fiscal year.

Irfan Razack, Chairman and Managing Director of Prestige Group, highlighted the company's outstanding performance in the first half of the fiscal year. 'What makes this performance even more gratifying is the contribution from multiple geographies -- Bengaluru, NCR, and Mumbai have all delivered exceptionally well,' he said.

As of June 2025, the group has delivered 307 projects, spanning 199 million sq ft, and currently has a pipeline of 132 projects across 200 million sq ft. This continued growth and expansion underscore Prestige Group's commitment to delivering high-quality residential properties in key markets.