Shares of Prestige Estates Projects rose after the company reported a 20% year-on-year increase in residential pre-sales to ₹7,225 crore in Q2 FY27, supported by healthy housing demand and traction across new launches.
The real estate developer recorded sales of 5.84 million square feet, covering 3,910 units during the quarter. Average realisation stood at ₹12,375 per square foot, stated exchange filing.
Collections during the quarter stood at ₹5,294 crore, taking the total for the first half of FY27 to ₹10,096 crore, reflecting continued customer demand and execution across projects.
Prestige Estates launched three residential projects during the September quarter, with a combined developable area of 5.91 million square feet and a gross development value (GDV) of around ₹4,020 crore.
Residential launches for the first half of FY27 totalled 23.14 million square feet, with a GDV of more than ₹16,200 crore.
Prestige Estates shares jumped as much as 3.32% to ₹1,447 apiece at 2:34 pm. The stock has declined 1.7% over the past month and is down 8.2% so far this year.
Across its residential, commercial, retail and hospitality segments, Prestige Estates launched or commenced construction on nine projects during the quarter, covering a combined developable area of 10.09 million square feet, according to the exchange filing. This took the total area launched or taken up for construction in the first half of FY27 to 30.25 million square feet.
The developer said all its business verticals, residential, commercial, retail, hospitality and property management, continued to perform well during the first half of the financial year.
Prestige Estates’ ₹40,000 crore launch pipeline
Commenting on the performance, Irfan Razack, chairman and managing director of Prestige Group, said the company had witnessed healthy demand in its residential business, with new launches and sustenance sales continuing to see traction.
The company has a launch pipeline worth more than ₹40,000 crore planned across Bengaluru, Mumbai, the National Capital Region (NCR), Chennai and Hyderabad over the next two quarters, Razack said.
He added that the response to new launches, including projects introduced towards the end of the September quarter, had been encouraging.
CPP Investments to invest ₹3,000 crore in Prestige hospitality
Last month, Prestige Estates also announced a strategic investment of ₹3,000 crore by CPP Investments in Prestige Hospitality Ventures Ltd for an approximately 27% stake.
The investment is expected to support the expansion of the hospitality business, including the development of its planned portfolio and the pursuit of future growth opportunities.
Razack said the partnership would help the company execute its hospitality development pipeline and expand its presence in the sector.
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