Prestige Group Sales Bookings Decline 38% To Rs 10,000 Crores In Apr-Dec

Prestige Group Projects sales bookings have declined by 38% to Rs 10,065.7 Crores during the April-December period of this fiscal year. The real estate builder has launched only a few housing projects due to their delay in getting some approvals.

Prestige Group is one of the leading big real estate builders in India. According to its latest investors report, the company sold 8.09 million sq ft area. They had an average sale of Rs 13,128 per sq ft during the first 9 months of the 2024 to 2025 fiscal year.

The number of units sold by them was 3,618. But sales value stood at Rs 10,065.7 Crores. The collection amount from buyers was Rs 8,910.9 Crores. They had a fall in sales bookings at that time. Despite a fall in total sales bookings in the 1st nine months of this year, they are confident of achieving Rs 24,000 Crores pre-sales.

It is because, in this full fiscal year, the housing demand continues to be strong. In the 2023 to 2024 fiscal year, Prestige Estates reported a 63% annual increase in sales bookings. They had a record of Rs. 21,040 Crores from Rs. 12,931 Crores in the previous financial year. Prestige Estates had an 85% decline in consolidated profit to Rs 17.7 Crores for the December quarter. It was against a net profit of Rs. 116.3 Crores in the last year.

All the best projects located across prime cities will drive significant sales volumes. It will help them to regain momentum quickly, and it will result in a rise in sales. Prestige Group MD Irfan Razack said that they are very optimistic about the upcoming new launches. Many of their big projects are in the final stages of approval. They are expected to be launched in the coming weeks. They will get all the approvals for the coming projects soon and it will lead to a rise in the number of units sold.

The latest launch by Prestige Group to consider for investment is Prestige Spring Heights, which is located in Budvel, in South Hyderabad. The project is spread over a vast 10 acres of land, and it offers 1656 units. The size of the apartments here varies from 1576 to 3051 sq. ft. The project features 4 big towers, each with 4B+G+35 floors. Investing in this project is the best choice to get high returns with good resale value.