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Prestige has room for better FY26
Mint Mumbai
|June 02, 2025
Prestige Estates Projects Ltd put up a decent show in the March quarter (Q4FY25) with pre-sales or bookings at ₹6,957 crore, up 48% year-on-year.
Prestige Estates Projects Ltd put up a decent show in the March quarter (Q4FY25) with pre-sales or bookings at ₹6,957 crore, up 48% year-on-year. Last quarter, it launched 14.03 million square feet (msf) spanning four projects: Prestige Suncrest and Prestige Southern Star-Ph1 in Bengaluru; Prestige Nautilus in Mumbai; and Prestige Spring Heights in Hyderabad.
However, Prestige still missed its full-year FY25 pre-sales target. Bookings declined 19% year-on-year to ₹17,023 crore, below the guided ₹24,000 crore. Lack of adequate new project launches due to approval delays was a dampener during a large part of the fiscal. Launches fell to 26 msf in FY25 from 40 msf in FY24, and project completions were tepid. Prestige's lacklustre performance comes when other listed peers such as Godrej Properties Ltd and Macrotech Developers Ltd (Lodha) surpassed their respective guidance, clocking impressive FY25 pre-sales.
This story is from the June 02, 2025 edition of Mint Mumbai.
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