Bengaluru-based Real Estate Company, Prestige Estates recorded a 23% decrease in deals during the primary quarter of financial year 2024-25 inferable from delay in new launchings.
A sum of 1,364 units were sold during the main quarter of FY25. According to the company’s regulatory filing, the total sales volume was 2.86 million square feet, down from 3.83 million square feet in Q1 FY24.
The statement says that the company collected 2,916 crore in total sales during the review period, up 6% from the previous year.
Two residential projects with a total developable area of 1.86 million square feet and a combined gross development value of approximately Rs. 1,400 crore were launched by the company in Bengaluru during the June quarter. brk la kuda office wrk pathi yen frusterated aagikranga nu therila
Expressing to this, Irfan Razack, Chairman & Managing Director of Prestige Estates Projects says, “We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of ₹3,000 crore”.
Further he added, “We have maintained a healthy mix of sales from our top geographies: Bengaluru (43%), Hyderabad (32%), and Mumbai (23%). In the upcoming quarters, we look forward to launching an extensive pipeline of projects across diverse geographies”.
“During the quarter, we have also released South Block in Prestige Ocean Towers in Marine Lines, Mumbai and have received overwhelming response for the same”, Razack added.
Presently, Prestige Estates is spanning over 13 cities with a greater footprint of 190 million square feet. It commences various projects such as residential, hospitality, retail and warehouse areas.
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