Prestige Estates sales booking reduces by 43% in Q2 FY25

Realty firm Prestige Estates Limited’s sales booking decreases from 43% to Rs. 4,022.6 crore in the second quarter of this fiscal deficit strong housing demand.

During the April-September period, the sales bookings declined to Rs 7,052.2 crore against Rs 1,100.73 crore during the corresponding period of the preceding financial year.The aveage realisation rose from 33% to Rs.13,782 per sq.ft for apartments,villas and commercial spaces.

According to Irfan Razack, Chairperson and Managing director of Prestige Estates Projects says that,’’ as we move forward, the next two quarters are expected to deliver substantial growth with several major launches in the pipeline". He added that these launches are poised to scale up the performance and set the stage for a strong finish to this fiscal’’.

Shares of Prestige Estates Projects closed 3.81% lower at Rs 1,793.60 apiece on the NSE, compared to a 0.28% decline in the benchmark Nifty 50. It has risen 151.12% in the last 12 months and 50.89% on a year-to-date basis.

The average realization roses from 33% to Rs 13,782 per sq. ft. for apartments, villas and commercial spaces. The average realization for plots on the other hand fell 1.5% to Rs 6,654 per sq. ft., according to an exchange filing on Thursday. The real estate firm reported a 4% jump in sales collection to Rs 2,737 crore in the quarter ended September.

Prestige Estates is one of the leading real estate developers in the country. The real Estate has reported a 4% jump in sales collection to Rs.2, 737 crore in the quarter ended in September.