Prestige Estates, Headquartered in Bengaluru, Surpasses INR 10,000 Crore Presales milestone
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- 14th Apr 2022
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A 10,000 Crore rupees presales achievement.
Bangalore based Prestige Estates has issued its real estate business updates for the fiscal year ending March 31, 2022. During FY22, the group had its highest-ever sales of INR 103,822 million, up 90% year on year, and its highest-ever collections of Rs 74,664 million, up 47% year on year.
The Group launched 16.77 million square feet of space across geographies this year in Bengaluru, including The Prestige City-Great Acres, Aspen Greens, Avalon Park, Eden Park, Meridian Park, Prestige Marigold, Prestige Tech Hub, and Prestige Green Gables.
It pre-launched Prestige Jasdan Classic in Mumbai, Prestige Beverly Hills in Hyderabad, and Prestige Eden Garden in Kochi. The group plans to launch over 15 million square feet of The Prestige City at Mulund, Prestige Ocean Towers at Marine Lines, Prestige Daffodils at Pali Hill in Mumbai, Phase 2 of The Prestige City in Bengaluru, Prestige Bougainvillea Gardens in the National Capital Region, and Prestige Highline in Chennai in FY23.
On the execution front, the Group completed 14.26 million square feet of space in FY22 with the completion of Prestige MSR Heights, Prestige Dolce Vita, Prestige Fontaine Bleau, Prestige Northpoint, Prestige Vista Towers, Prestige Botanique, Prestige Park Square, and Prestige Lake Ridge. Prestige Golfshire Resort & Spa is located in Bengaluru, Forum Rex Walk is located in Hyderabad, and Prestige Courtyards and Prestige Cosmopolitan are located in Chennai.
"This record sales volume is underpinned by a strong reaction to our 16.77 million square feet of freshly launched projects, as well as to our under construction and finished inventories," said Irfan Razack, chairman, Prestige Group.
Due to the unwavering commitment of our staff throughout cities and the support of all our stakeholders. Additionally, we commemorated the historic debut of the JW Marriott Bengaluru Prestige Golfshire property in Nandi Hills. We look forward to continuing to strengthen our presence in high-growth potential areas."
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