Prestige Estates Q1 FY27: ₹6,579 Crore Residential Pre-sales, 4 New Launches
Prestige Estates reported Q1 FY27 operational performance with residential pre-sales of ₹6,579 crore from 6.04 million sq ft and 3,337 units. The company launched four projects covering 20.16 million sq ft with a GDV of ₹12,000 crore. Commercial leasing was 1.5 million sq ft, and retail GTO grew 18% YoY to ₹737 crore.
The announcement provides a detailed operational update for the quarter, including key sales figures, project launches, and leasing data across various business segments. This information is material for investors to assess the company's ongoing performance and growth trajectory.
The company reported strong operational performance across all business verticals, including robust residential pre-sales, new project launches, healthy commercial leasing, and significant growth in retail turnover, indicating a positive start to the fiscal year.
Prestige Estates Projects Limited has announced its operational performance for the first quarter ended June 30, 2026 (Q1 FY27). The company reported robust performance across its diversified portfolio, including Residential, Commercial, Retail, Hospitality, and Property Management.
The residential business recorded pre-sales of ₹65,793 million (₹6,579.3 crore) during Q1 FY27, with sales volume of 6.04 million square feet and 3,337 units sold. Hyderabad emerged as the largest contributor to quarterly sales, accounting for 49% of total sales, followed by Bengaluru (27%), Mumbai (12%), NCR (7%), and other markets (5%). The average realization for apartments was ₹11,193 per square foot, and for plotted developments, it was ₹8,043 per square foot. Collections remained strong at ₹48,022 million (₹4,802.2 crore).
During the quarter, the company launched four new projects with a combined developable area of 20.16 million square feet and a Gross Development Value (GDV) of approximately ₹1,20,000 million (₹12,000 crore). These launches included Prestige Golden Grove in Hyderabad, Prestige Gardenia Estates Ph II and Prestige Century Landmark in Bengaluru, and Prestige Forest Hills @ TPC Mulund - Ph2 in Mumbai. Additionally, Prestige completed three projects totaling 4.37 million square feet, including Prestige Tech Forest and Prestige Sanctuary in Bengaluru, and Prestige Cityscape in Kochi.
The commercial office portfolio saw healthy demand with gross leasing of 1.5 million square feet, and exit rentals stood at ₹7,560 million (₹756 crore) as of June 2026. The retail portfolio reported a strong momentum with gross turnover (GTO) reaching ₹7,370 million (₹737 crore), an 18% year-on-year growth, and footfalls of 5.2 million. Exit rentals for the retail portfolio were ₹2,776 million (₹277.6 crore).
Mr. Irfan Razack, Chairman and Managing Director, Prestige Group, expressed satisfaction with the strong start to FY27, highlighting the positive response to Prestige Golden Grove and the planned marquee launches during the festive season. He expressed confidence in delivering a stellar performance for the year, supported by healthy collections and resilient annuity businesses.
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