Prestige Estates Sales Drop 38% to ₹10,000 Cr from April to December

Reputed real estate firm Prestige Estate's sales bookings have declined by 38 per cent to Rs 10,065.7 Crores during the April to December period of the current fiscal year. This is because few housing projects are launched due to delays in regulatory approvals.

Bangalore based reputed Prestige Estates is one of the foremost real estate developers of the country. They have launched many new projects like Prestige Southern Star in 2025 in Bangalore that will exceed all buyers’ expectations with 65+ modern amenities.

According to their latest investors presentation, they have sold 80.9 lakh sq ft area at an average sale of Rs 13,128 per sq ft during the 1st nine months of the 2024 to 2025 fiscal year. Their sales bookings are due to a few project launches, among regulatory delays. Prestige Estates has reported an 85% drop in net profit to Rs 17.7 Crores for the December quarter.

Despite the fall in total sales bookings in the nine months of this year, Prestige Estates is very confident of achieving Rs 24,000 Crores of pre-sales in this full fiscal year. They are confident as the housing demand continues to be strong. In the 2023 to 2024 fiscal year, Prestige Estates Projects reported a 63 per cent annual increase in sales bookings. They have a record of Rs 21,040 Crores from Rs 12,931 Crores in the preceding financial year.

The number of houses sold was 3618, and the sales value stood at Rs 10,065.7 Crores. The total collection from buyers was at Rs 8,910.9 Crores. All their new high-velocity projects, located in prime areas of major cities, will drive good sales volumes and help them regain momentum. They are confident of achieving the target pre-sales in the full fiscal year as demand for houses continues to be strong in major cities.