Prestige Estates Golden Grove Launch in Hyderabad Achieves ₹2,500 Crore Sales
Prestige Estates Projects Limited's 'Prestige Golden Grove' in Hyderabad has achieved over ₹2,500 crore in early sales, with more than 1,700 units sold within two weeks of launch. The project, spanning 29 acres, features 5,120 units and has an estimated GDV of ₹9,500 crore. Over 4,000 customers visited the project.
The successful launch and substantial early sales of a new project contribute positively to the company's revenue pipeline and market presence, indicating a medium-term impact on growth.
The announcement highlights strong sales figures, significant customer interest, and positive commentary from management regarding a new project launch, indicating a favorable market reception.
Prestige Estates Projects Limited has announced a strong market response to its newly launched residential project, 'Prestige Golden Grove,' located in Hyderabad. The project, described as one of the largest single-phase developments in the city, has garnered significant interest, attracting over 4,000 customer footfalls within two weeks of its launch.
This early traction has resulted in sales exceeding 1,700 units, generating a total sales value of over ₹2,500 crore. The project is strategically situated in Tellapur, spanning approximately 29 acres. It features around 5,120 units across 10 towers, with an estimated gross development value (GDV) of approximately ₹9,500 crore. The development is designed to offer modern living, quality construction, and lifestyle amenities.
Mr. Zayd Noaman, Executive Director of Prestige Group, expressed satisfaction with the project's performance, noting that the strong footfalls and early sales reflect the demand for well-located and well-planned residential communities. He highlighted Hyderabad as a key market for the company, driven by infrastructure growth and a robust employment ecosystem, and reaffirmed the company's commitment to expanding its presence in major urban centers.
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Prestige Estates Projects Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Prestige Estates Projects Limited. Read the original for the full detail.