Prestige Estates sees highest ever quarterly sales of Rs 4,267.6 crore, up 111% YoY

Prestige Estates has registered the highest ever quarterly sales of Rs 4,267.6 crore, up 111% YoY, and collections at Rs 5,005.4 crore, 51% YoY ok n the third quarter of this fiscal, respectively.

“We strongly believe there is a tremendous opportunity to expand our core markets as we continue to deliver our quality products on time. As we kick off 2022, our business plan will be anchored by a principal focus on revenue expansion as we continue to capitalise on our brand premium, execution track record and market consolidation theme,” said Venkat K Narayana, Chief Executive Officer, Prestige Group.

The Bangalore- based firm is looking forward to growing further sales in 2022, backed by the robust launch pipeline of over 15 mn. sqft

“The new sales were backed by the great response to our newly launched project; Prestige Avalon, Aspen & Eden Park, Part of The Prestige City, Bengaluru, Prestige Beverly Hills, Hyderabad and the existing inventories across geographies. It is a very exciting time for the brand, with new launches and markets to support the ambitious growth plans we have set for ourselves. Thanks to the relentless dedication of our employees across the cities. We look forward to continuing to expand our footprint in high growth opportunity markets,” said Irfan Razack, Chairman, Prestige Group.

The Group has completed 255 projects with a developable area of 144 mn sqft and has 47 ongoing projects across segments, with a total developable area of 58 mn sft. Further, it has 79 mn sqft under planning and holds a land bank with a potential developable area of over 27 mn sft.