Curation Team
NEW DELHI: Prestige Estates Projects has clocked ₹12,126 crore in sales in Q1 FY26, a nearly four-fold jump compared to the same quarter last year. The company sold 4,718 units during the April-June period, translating into 9.55 million sq ft of saleable area, up 234% year-on-year.
Collections stood at ₹4,523 crore, rising 55% over Q1 FY25. The average realization stood at ₹13,339 per sq ft for apartments and ₹7,343 per sq ft for plotted developments.
NCR drives growth, Mumbai sees maiden completions
The quarter marked a shift in geographical contribution with the National Capital Region (NCR) accounting for 59% of total sales, the highest across all cities, followed by Bengaluru (21%), Mumbai (12%), Hyderabad (5%), and other cities (3%).
The company launched four new residential projects in the quarter with a total development area of 14.94 million sq ft, including its maiden launch in the NCR region. On the execution front, Prestige completed five residential projects totaling 5.45 million sq ft.
Office and retail verticals remain steady
Prestige’s office portfolio recorded fresh leasing of 1.21 million sq ft during the quarter, with occupancy levels remaining healthy at 93.7%. Exit rentals were pegged at ₹523 crore.
In the retail segment, operational malls posted a gross turnover of ₹590 crore, with occupancy levels touching 98.9%. Exit rentals stood at ₹218.5 crore.
The company is also advancing plans for its hospitality platform, having filed a Draft Red Herring Prospectus (DRHP).
Consolidates stakes in two realty arms for ₹325 crore
The company has acquired near-complete ownership in two of its real estate development arms for a combined consideration of ₹3.25 billion (₹325 crore).
According to regulatory filings, the company acquired an additional 49% partnership interest in Prestige Notting Hill Investments, taking its total ownership to 100%. The acquisition was made through its wholly owned subsidiary Prestige Falcon Malls for a consideration of ₹3 billion. The entity, a partnership firm established in 2006, owns a 70% stake in the Forum South Bangalore retail mall. The remaining 30% is already held by Prestige Falcon Malls. Prestige Notting Hill Investments reported a turnover of ₹1,216 crore in FY25.
In a parallel deal, Prestige Estates also acquired an additional 48.99% partnership interest in Prestige AAA Investments, raising its holding to 99.99%. The deal was struck at ₹256 million. Prestige AAA, incorporated in 2014, recorded a turnover of ₹2,633 crore in FY25, up sharply from ₹253 crore the previous year.
