Prestige Estates Targets Rs 36,000 Crore in Pre-Sales Amid Strong Housing Demand

Prestige Estates Projects plans a 20% rise in pre-sales to Rs 36,000 crore, optimistic about housing demand despite global challenges. Chairperson Razack sees robust project launches in major cities driving growth, amid rising construction costs and a strong past fiscal performance.

Driven by strong sales in the last fiscal year, Prestige Estates Projects Ltd has set an ambitious target to achieve up to 20% growth in pre-sales this fiscal year, aiming for Rs 36,000 crore. The company maintains confidence in the housing market despite global instabilities, says Chairperson Irfan Razack.

Razack noted a significant demand for residential properties and emphasized the company's ongoing investment in construction and land acquisition. Despite rising construction costs due to increased raw material prices, the firm's strategic launches across major cities are expected to sustain its robust sales momentum.

With a considerable launch pipeline valued at Rs 60,000 crore, Prestige's growth strategy involves expanding in key areas like Bengaluru, the Mumbai Metropolitan Region, and Delhi-NCR. The past fiscal year witnessed record sales of Rs 30,024 crore, a 76% rise from the previous year, demonstrating the brand's market strength and execution capabilities.