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16-Jan-2026     12:54
Prestige Estates Projects gains as Q3 pre-sales, collections surge
Sales volume during the quarter stood at 2.99 million square feet, with the sale of 1,811 units.

Collections for the quarter came in at Rs 4,547.5 crore, up 40% year-on-year, reflecting healthy demand and execution momentum.

The geographical sales mix remained well diversified, with Mumbai contributing 36%, Bengaluru 25%, Hyderabad 16%, NCR 16%, Chennai 5% and Kochi 2% of total sales, during the quarter.

Average realization during the quarter stood at Rs 14,459 per square feet (sq. ft.), reflecting a 6% year-on-year growth.

The company said that it expects the exit rentals from the office portfolio for FY26 to be Rs 828.6 crore. Upon completion of its ongoing construction pipeline, office annuity income is projected to scale up to around Rs 4,000 crore by FY30, significantly strengthening Prestige's long-term recurring income profile.

Under retail portfolio, total mall footfalls during Q3 FY26 stood at 5.2 million. Gross Turnover (GTO) across malls was Rs 701.5 crore, reflecting a 14% year-on-year growth, indicating sustained strength in retail consumption and tenant performance. Exit rentals from the retail portfolio are expected to be Rs 275.4 crore in FY26. With 13 malls in the development pipeline, exit rentals are projected to grow to around Rs 1,092.0 crore by FY30, significantly scaling Prestige's retail annuity platform.

Irfan Razack, chairman & managing director, Prestige Estates Projects, said: 'The record-breaking performance delivered in the first nine months of FY26 is a strong validation of the demand environment for our portfolio and the strength of our execution platform. Achieving our highest-ever sales and collections ' surpassing even previous full-year peaks within just nine months, reflects the trust customers continue to place in the Prestige brand and the consistency of our market positioning.

We have built a well-diversified portfolio across geographies and across asset classes, with a healthy mix of residential development complemented by stable and growing annuity income from our oƯice and retail assets. This diversification provides resilience to market cycles and helps insulate the business from short-term fluctuations in any single market or segment.'

Meanwhile, the company announced the launch of Evergreen at Prestige Raintree Park, its latest premium residential development located in Whitefield, Bengaluru. The development is planned on approximately 24 acres of land and comprises around 2,000 apartments, with a total saleable area of 3.2 million square feet. Apartments prices start at around Rs 92 lakh onwards, with an estimated gross development value (GDV) of about Rs 5,000 crore.

Prestige Group is a diversified real estate developers, with a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As at September 2025, the Group has delivered 310 projects spanning 202 million sq.ft and currently has a pipeline of 130 projects across 199 million sq.ft.

The company's consolidated net profit surged 123.88% to Rs 430.3 crore on 5.52% increase in revenue from operations to Rs 2431.7 crore in Q2 FY26 over Q2 FY25.

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