Prestige Estates Plans Rs 40,000 Crore Property Launches

Prestige Estates Projects Ltd is strategically planning a substantial real estate launch pipeline, estimated at over Rs 40,000 crore, for the second half of the current fiscal year. This ambitious move represents a 2.5-fold increase compared to the Rs 16,200 crore worth of properties launched in the first six months. The new developments are slated to occur across key metropolitan areas including Bengaluru, Mumbai, Delhi-NCR, Chennai, and Hyderabad.

The company's proactive approach is designed to leverage the expected surge in demand during the upcoming festive season. In the preceding fiscal year, Prestige Estates achieved a record Rs 30,024 crore in sales bookings. For the current fiscal year, the firm is projecting sales bookings in the range of Rs 35,000-36,000 crore. The first half of this fiscal year has already seen sales bookings amounting to Rs 13,804.3 crore, indicating strong market traction.

This substantial launch strategy is intended to maintain sales momentum and build upon the healthy demand currently being observed in the residential sector. The positive response to recent launches and sustained sales in ongoing projects reinforce the company's confidence in the underlying strength of the housing market. Prestige Estates, a leading developer, has a vast portfolio, with 319 projects delivered and 137 ongoing projects.