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

19 Jan 2022 CW Team

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.

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