Prestige Group Launches 620 Premium Homes in Ghaziabad, Eyes Rs 2,200 Crore Revenue
Prestige Estates Projects Ltd has launched 620 new homes in Ghaziabad, projecting Rs 2,200 crore in revenue. This follows the successful first phase of 'The Prestige City, Indirapuram', which comprised 3,421 units.
Prestige GroupReal EstateGhaziabadPremium HomesDelhincrReal Estate NewsOct 13, 2025
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.
Frequently Asked Questions
What is the total estimated revenue from the new phase of 'The Prestige City, Indirapuram'?
The total estimated gross development value (GDV) of the new phase, 'Mayflower', is around Rs 2,200 crore.
How many units were sold in the first phase of 'The Prestige City, Indirapuram'?
The first phase of 'The Prestige City, Indirapuram' comprised 3,421 units.
What is the total sales value of the first phase of 'The Prestige City, Indirapuram'?
The total sales value of the first phase of 'The Prestige City, Indirapuram' was around Rs 9,000 crore.
How much has Prestige Estates' sales bookings increased in the second quarter of this fiscal year?
Prestige Estates has reported a 50% increase in its sales bookings to Rs 6,017.3 crore during the second quarter of this fiscal year.
How many units did Prestige Estates sell in the July-September period of this fiscal year?
Prestige Estates sold 2,069 units during the July-September period of this fiscal year.
Related News Articles
Prestige Estates Projects Sees 13% Dip in Q1 Profit to Rs 232.6 Cr
Prestige Estates Projects, a leading real estate company, reported a 13% decline in its net income to Rs 232.6 crore in the quarter ended June 2024, owing to increased expenses.
Amitabh Bachchan and Son Abhishek Purchase Luxurious Properties in Mulund Worth ₹24.95 Crore
Father-son duo Abhishek and Amitabh Bachchan have bought properties in Mulund West, Mumbai, worth Rs 24.95 crore. The luxurious property is within a high-end project and boasts modern amenities and sophisticated design.
Karnataka RERA Finds Krishna E Campus Private Limited Liable for Delayed Possession
The Karnataka Real Estate Regulatory Authority (RERA) bench, comprising GR Reddy (Member), has issued a directive against Krishna E Campus Private Limited (KECPL) for failing to deliver possession of the flats on the promised timeline.
The Nuclear Family: Housing India's Millennials in Pune
Real Estate - The Nuclear Family: Housing India's Millennials. Pune, 25th November 2024: Young, dual-income nuclear families and single professionals are reshaping the real estate market in Pune. Here’s a detailed look at the trends and opportunities.
Mumbai Police Tightens Security with Preventive Measures Against Potential Threats
The Mumbai Police have issued a preventive order to address potential security threats by requiring property owners and real estate dealers to submit tenant details on the citizen portal.
Gauri Khan Sells Mumbai Flat for ₹11.61 Crore, Reaps 37% Profit in Just 19 Months
Gauri Khan, the renowned Indian interior designer and wife of Bollywood superstar Shah Rukh Khan, has sold her Mumbai flat for a staggering ₹11.61 crore, marking a 37% profit in just 19 months. This impressive sale highlights the robust real estate market in the bustling metropolis.