Prestige Estates to double residential launches in FY26

24 Apr 2025 CW Team

Prestige Estates Projects plans to double its residential launches in FY26 after closing FY25 with 26.28 million sq ft of launches, largely in Bengaluru, Mumbai, and Hyderabad. These projects carried a total gross development value (GDV) of Rs 262 billion. Of this, 14 million sq ft—worth Rs 161.33 billion—was launched in Q4 alone.

The company will begin FY26 with a major launch in Indirapuram, Delhi-NCR, followed by plotted developments in Bengaluru and large apartment townships in Mumbai, Hyderabad, Bengaluru, and Chennai, said CMD Irfan Razack. A Goa project is also lined up for H1 FY26. Razack added that recent launches across Bengaluru, Mumbai, and Hyderabad saw sales bookings of over Rs 50 billion within a month.

Other top developers are also scaling up launches. Macrotech Developers picked up 10 land parcels in FY25, targeting a total sales value of Rs 240 billion.

While demand for luxury housing remains strong, Razack noted that the mid- and lower-income segments are seeing a clear demand-supply gap. Prestige now plans to expand offerings in the mid-segment, aligning apartment sizes and pricing with market demand. “We’re continuously realigning our products to ensure the right apartment size and ticket price,” he said.

Axis Securities, in its Q4 preview, flagged approval delays as a drag on Prestige’s FY25 performance. Major projects like Indirapuram Prestige City and Pallava Gardens (Chennai), together worth Rs 170 billion in GDV, missed their planned launch windows. As a result, pre-sales may end the year around Rs 140 billion, well short of the Rs 260 billion guidance.

However, with Indirapuram now likely to launch in Q1 FY26, Axis expects a strong sales rebound.

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