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Prestige Estates Shares Surge As Q2 Pre-Sales Jump 20% To ₹7,225 Crore
- •Prestige Estates reported a 20 percent year-on-year increase in residential pre-sales to ₹7,225 crore in Q2 FY27.
- •The real estate developer recorded sales of 5.84 million square feet, covering 3,910 units during the quarter.
- •The company announced a robust launch pipeline worth more than ₹40,000 crore planned across major cities over the next two quarters.
- •CPP Investments recently announced a strategic investment of ₹3,000 crore in Prestige Hospitality Ventures Ltd for a 27 percent stake.
Key Questions Answered
Prestige Estates reported a 20% year-on-year increase in residential pre-sales, reaching ₹7,225 crore during the second quarter of FY27. The company recorded sales across 3,910 units covering 5.84 million square feet, with an average realisation of ₹12,375 per square foot. Additionally, quarterly collections stood at ₹5,294 crore, bringing the total for the first half of the financial year to ₹10,096 crore.
Prestige Estates has planned a robust launch pipeline worth more than ₹40,000 crore across Bengaluru, Mumbai, the National Capital Region, Chennai, and Hyderabad over the upcoming two quarters. During the September quarter itself, the company launched three residential projects with a combined developable area of 5.91 million square feet and a gross development value of approximately ₹4,020 crore.
CPP Investments is investing ₹3,000 crore in Prestige Hospitality Ventures Ltd for an approximate 27% stake. This partnership is designed to support the expansion of Prestige Estates' hospitality business, help execute its planned development portfolio, and pursue future growth opportunities in the sector.
