Prestige Estates jumps on strong business update

Prestige Estates Projects climbed 3.61% to Rs 1568.30 after the Bengaluru-based real estate developer reported record-breaking sales for the first half of FY26.

The Bengaluru-based developer achieved sales of Rs 18,143.7 crore in H1 FY26, up 157% year-on-year, surpassing its full-year FY25 performance. In the second quarter alone, Prestige clocked sales of Rs 6,017.3 crore, a 50% year-on-year increase, propelled by steady housing demand across geographies and segments.

During Q2, the company sold 4.42 million square feet or 2,069 units, up 47% from a year earlier. The average realization for apartments rose 8% year-on-year to Rs 14,906 per square foot, while plots saw a sharp 43% jump to Rs 9,510 per square foot.

For the first half, Prestige sold 13.96 million square feet, comprising 6,788 units. Average realization for apartments during this period stood at Rs 13,769 per square foot, up 6%, while plots averaged Rs 8,425 per square foot, higher by 17% from last year.

Collections remained strong, touching Rs 4,212.8 crore in Q2, up 54% year-on-year, and Rs 8,735.6 crore in H1 FY26, marking a 55% rise over the previous year.

The company?s performance was geographically balanced, with contributions from all major regions, underscoring the strength of its diversified portfolio.

In Q2, Prestige launched 3.87 million square feet of developable area with a gross development value (GDV) of Rs 3,966.9 crore. This took its total H1 FY26 launches to 18.81 million square feet with a GDV of Rs 17,592.2 crore.

Prestige?s commercial portfolio also remained robust, with gross leasing of 2.3 million square feet during Q2 FY26 and portfolio occupancy at 93.42%. The company expects FY26 exit rentals of Rs 819.9 crore, reflecting stable demand in the office space segment.

The retail vertical maintained its strong growth trajectory, clocking a gross turnover of Rs 623.6 crore in Q2 FY26, up 9% year-on-year. Footfalls across malls reached 4.8 million, while portfolio occupancy remained an impressive 99%. Exit rentals for FY26 are estimated at Rs 271.7 crore, underlining sustained tenant interest and healthy leasing activity.

Irfan Razack, chairman and managing director, Prestige Group, said: In Mumbai, our flagship project Prestige Nautilus has achieved over 60% inventory sales with more than ₹4,400 crore in value within just a few months of launch. Our maiden project in NCR, The Prestige City Indirapuram, has clocked sales of ₹8300+ crores and collections of ~₹1500 crores in just a few months. We remain focused on consolidating this growth through timely delivery, prudent financial management, and a pipeline of projects that continue to set benchmarks in the industry.

Prestige Group is a diversified real estate developers, with a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As at June 2025, the Group has delivered 307 projects spanning 199 mn sft and currently has a pipeline of 132 projects across 200 mn sft.

Powered by Capital Market - Live News