Prestige Estates Q3 sales bookings rise of Rs 4,268 crore in FY22
Real Estate

Prestige Estates Q3 sales bookings rise of Rs 4,268 crore in FY22

Prestige Estates recorded a more than two-fold increase in sales bookings for the quarter ended December, reaching a new high of Rs 4,267.6 crore. In the previous fiscal year, the company's sales bookings totalled Rs 2,026 crore.

The Bengaluru-based Prestige group also recorded its highest-ever quarterly revenue of Rs 2,431.6 crore in the December quarter, up 70% year on year.

The company's sales bookings increased by 97% from April to December 2021, to Rs 7,113.4 crore, compared to Rs 3,610.3 crore in the same period the previous year.

During the first nine months of this fiscal year, receipts increased by 51% to Rs 5,005.4 crore, compared to Rs 3,307.6 crore in the same period last year.

The company intends to continue expanding its presence in high-growth opportunity markets.

With a launch pipeline of over 15 million sq ft, the business anticipates increased sales bookings in 2022.

In India, the Prestige Group has 12 locations. The company has completed 255 projects with a total developable area of 144 million sq ft and is now working on 47 projects with a total developable area of 58 million sq ft across all segments.

It also contains a land bank with a potential developable area of about 27 million sq ft and 79 million sq ft under planning.

By establishing its indelible mark across all asset classes over the last decade, the Prestige Group has firmly established itself as one of India's top and most successful real estate developers. CMD Irfan Razack was the driving force behind the company's founding in 1986, which was led by his brothers Rezwan and Noaman Razack.

Image Source

Prestige Estates recorded a more than two-fold increase in sales bookings for the quarter ended December, reaching a new high of Rs 4,267.6 crore. In the previous fiscal year, the company's sales bookings totalled Rs 2,026 crore. The Bengaluru-based Prestige group also recorded its highest-ever quarterly revenue of Rs 2,431.6 crore in the December quarter, up 70% year on year. The company's sales bookings increased by 97% from April to December 2021, to Rs 7,113.4 crore, compared to Rs 3,610.3 crore in the same period the previous year. During the first nine months of this fiscal year, receipts increased by 51% to Rs 5,005.4 crore, compared to Rs 3,307.6 crore in the same period last year. The company intends to continue expanding its presence in high-growth opportunity markets. With a launch pipeline of over 15 million sq ft, the business anticipates increased sales bookings in 2022. In India, the Prestige Group has 12 locations. The company has completed 255 projects with a total developable area of 144 million sq ft and is now working on 47 projects with a total developable area of 58 million sq ft across all segments. It also contains a land bank with a potential developable area of about 27 million sq ft and 79 million sq ft under planning. By establishing its indelible mark across all asset classes over the last decade, the Prestige Group has firmly established itself as one of India's top and most successful real estate developers. CMD Irfan Razack was the driving force behind the company's founding in 1986, which was led by his brothers Rezwan and Noaman Razack. Image Source

Next Story
Resources

Rustomjee Builds Model Labour Housing in Thane

In a pioneering move that redefines worker welfare in Indian real estate, Rustomjee Group has unveiled a state-of-the-art 35,000 sq. ft. labour housing facility at the construction site of Rustomjee Urbania in Thane. The project sets a new industry benchmark by integrating comfort, safety, sustainability, and dignity into housing for 500 construction workers. Spread across 84 well-ventilated rooms, each 10x10 feet and accommodating up to six individuals, the facility offers far more than basic shelter. It represents a deeper cultural shift in how the construction workforce is valued—creatin..

Next Story
Real Estate

Young and Old Fuel India’s Housing Boom

India’s housing market is witnessing a surprising surge in interest from two distinct age groups—young professionals and senior citizens. A recent consumer sentiment survey of 1,950 prospective homebuyers reveals that both 18–24-year-olds and those aged 75 and above are showing strong intent to invest in real estate, highlighting a shift in how different generations are approaching property ownership. Young professionals, driven by rising incomes and a long-term view on wealth creation, recorded a Housing Sentiment Index (HSI) score of 164. Respondents from this group indicated they are..

Next Story
Resources

AD Ports’ LNG-Powered Ro-Ro Vessel Sets Sail from Khalifa Port

United Global Ro-Ro, a joint venture between Noatum Maritime (a part of AD Ports Group’s Maritime & Shipping Cluster) and Erkport, has marked a major milestone with the maiden voyage of its first LNG-powered Pure Car and Truck Carrier (PCTC), UGR Al Samha, at Khalifa Port. This event signifies a new chapter in sustainable maritime logistics, as the deep-sea vessel will serve as a green link across trade routes spanning the Middle East, Asia, and the Mediterranean. With a cargo capacity of over 7,000 car equivalent units (CEU) across 12 decks, UGR Al Samha has been designed to optimise the ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?