Prestige Estates Q3 sales bookings rise of Rs 4,268 crore in FY22
Real Estate

Prestige Estates Q3 sales bookings rise of Rs 4,268 crore in FY22

Prestige Estates recorded a more than two-fold increase in sales bookings for the quarter ended December, reaching a new high of Rs 4,267.6 crore. In the previous fiscal year, the company's sales bookings totalled Rs 2,026 crore.

The Bengaluru-based Prestige group also recorded its highest-ever quarterly revenue of Rs 2,431.6 crore in the December quarter, up 70% year on year.

The company's sales bookings increased by 97% from April to December 2021, to Rs 7,113.4 crore, compared to Rs 3,610.3 crore in the same period the previous year.

During the first nine months of this fiscal year, receipts increased by 51% to Rs 5,005.4 crore, compared to Rs 3,307.6 crore in the same period last year.

The company intends to continue expanding its presence in high-growth opportunity markets.

With a launch pipeline of over 15 million sq ft, the business anticipates increased sales bookings in 2022.

In India, the Prestige Group has 12 locations. The company has completed 255 projects with a total developable area of 144 million sq ft and is now working on 47 projects with a total developable area of 58 million sq ft across all segments.

It also contains a land bank with a potential developable area of about 27 million sq ft and 79 million sq ft under planning.

By establishing its indelible mark across all asset classes over the last decade, the Prestige Group has firmly established itself as one of India's top and most successful real estate developers. CMD Irfan Razack was the driving force behind the company's founding in 1986, which was led by his brothers Rezwan and Noaman Razack.

Image Source

Prestige Estates recorded a more than two-fold increase in sales bookings for the quarter ended December, reaching a new high of Rs 4,267.6 crore. In the previous fiscal year, the company's sales bookings totalled Rs 2,026 crore. The Bengaluru-based Prestige group also recorded its highest-ever quarterly revenue of Rs 2,431.6 crore in the December quarter, up 70% year on year. The company's sales bookings increased by 97% from April to December 2021, to Rs 7,113.4 crore, compared to Rs 3,610.3 crore in the same period the previous year. During the first nine months of this fiscal year, receipts increased by 51% to Rs 5,005.4 crore, compared to Rs 3,307.6 crore in the same period last year. The company intends to continue expanding its presence in high-growth opportunity markets. With a launch pipeline of over 15 million sq ft, the business anticipates increased sales bookings in 2022. In India, the Prestige Group has 12 locations. The company has completed 255 projects with a total developable area of 144 million sq ft and is now working on 47 projects with a total developable area of 58 million sq ft across all segments. It also contains a land bank with a potential developable area of about 27 million sq ft and 79 million sq ft under planning. By establishing its indelible mark across all asset classes over the last decade, the Prestige Group has firmly established itself as one of India's top and most successful real estate developers. CMD Irfan Razack was the driving force behind the company's founding in 1986, which was led by his brothers Rezwan and Noaman Razack. Image Source

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?