Bengaluru based prominent Real estate conglomerate the Prestige Group, has 43 projects in hand to be launched within FY25. The land parcels spread across an area of 92 million square feet across its residential, commercial and retail portfolios According to the Investor’s presentation, the above statement made.
This huge number of projects are available in major metro cities of India like Hyderabad, Delhi-NCR, Goa, Bengaluru, Mumbai, Chennai and Kochi. They have 10 different projects to be targeted to hospitality sector involving 2,034 keys.
According to the company statement, currently, the company is working on 52 ongoing projects, spanning a combined developable area of 90 million square feet, alongside three hotels including 955 keys.
As per the presentation cited by the company, the company presently has a land bank totalling 260 acres across Bengaluru, Mangaluru, Mysuru and Pune.
Prestige Estates reported a consolidated net profit of Rs.307 crore for the first quarter of FY25, a decline of 3.4% compared to the same period last year. The company's revenue from operations reached Rs.1,862.1 crore during this quarter, up from Rs.1,680.9 crore in the corresponding period last year. Company CMD Irfan Razack highlighted strong sales performance in key regions, with Bengaluru contributing 43%, Hyderabad 32%, and Mumbai 23%.
During the investors' call, Razack mentioned that the real estate firm plans to enter the Delhi-NCR market in the next fiscal quarter (October-December) with three new projects.
Prestige Estates is set to launch 28 new residential projects, encompassing a total developable area of 73 million square feet. These initiatives will take place in various locations, including Bengaluru, Mumbai, Chennai, Hyderabad, Delhi-NCR, and Goa.
Currently, the company is engaged in the construction of 39 residential projects, which collectively offer a developable potential of 66 million square feet. The majority of these projects are situated in Bengaluru, with additional developments in Mumbai and Hyderabad.
During the quarter of April-June, Prestige Group launched two residential projects, spanning 1.86 million square feet cumulatively, in the IT capital.
The organization is currently planning five commercial projects, which collectively offer a developable potential of 8 million square feet. These projects are set to be located in Bengaluru, Chennai, and Kochi, as indicated in the investor presentation.
Additionally, Prestige is managing 12 projects that are currently under construction, encompassing a total of 23 million square feet, distributed across Bengaluru, Mumbai, and Delhi.
Currently, Prestige’s one retail project is under construction located in Bengaluru spanning across a million square feet. Future plans include 10 projects spanning 11 million square feet across Bengaluru, Hyderabad, Chennai, Mumbai and Goa.
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