Prestige Estates to launch Rs 520 Bn housing projects by March 2025
Real Estate

Prestige Estates to launch Rs 520 Bn housing projects by March 2025

Realty firm Prestige Estates Projects Ltd plans to launch housing projects worth Rs 520 billion by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 521.14 billion. According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 240 billion. During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 210 billion. Nevertheless, Razack is confident of not only meeting the target but exceeding it considering the strong pipeline of new launches. "So I think the market is good. The demand continues to be there as long as we have the product and the location, which is the mid-income. And I believe there is enough and plenty of demand that will keep coming. We, at the company, have a lot of launches in the pipeline for this quarter and the next," Razack said. He said the company is working relentlessly to see that it gets the approvals and the RERA number for most of the projects that it wants to launch this quarter as well as in the next. The company's Executive Director, Zayd Noaman, said the gross development value of these projects launched during the first half of this fiscal year stood at Rs 100 billion, of which the second quarter launches contributed to Rs 860 bllion. Prestige Estates Chief Financial Officer (CFO) Amit Mor said the company would launch Rs 250 billion worth projects in this quarter and the remaining in the fourth quarter of FY25. Prestige Group, one of the leading real estate developers in the country, has diversified business model across various segments -- residential, office, retail, hospitality, property management and warehouses -- with operations in more than 13 major locations. The Group has completed 302 projects spanning a developable area of 193 million sq ft as of September 2024.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Realty firm Prestige Estates Projects Ltd plans to launch housing projects worth Rs 520 billion by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 521.14 billion. According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 240 billion. During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 210 billion. Nevertheless, Razack is confident of not only meeting the target but exceeding it considering the strong pipeline of new launches. So I think the market is good. The demand continues to be there as long as we have the product and the location, which is the mid-income. And I believe there is enough and plenty of demand that will keep coming. We, at the company, have a lot of launches in the pipeline for this quarter and the next, Razack said. He said the company is working relentlessly to see that it gets the approvals and the RERA number for most of the projects that it wants to launch this quarter as well as in the next. The company's Executive Director, Zayd Noaman, said the gross development value of these projects launched during the first half of this fiscal year stood at Rs 100 billion, of which the second quarter launches contributed to Rs 860 bllion. Prestige Estates Chief Financial Officer (CFO) Amit Mor said the company would launch Rs 250 billion worth projects in this quarter and the remaining in the fourth quarter of FY25. Prestige Group, one of the leading real estate developers in the country, has diversified business model across various segments -- residential, office, retail, hospitality, property management and warehouses -- with operations in more than 13 major locations. The Group has completed 302 projects spanning a developable area of 193 million sq ft as of September 2024.

Next Story
Infrastructure Transport

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Next Story
Infrastructure Energy

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Next Story
Infrastructure Transport

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?