Prestige Estates Projects recorded a 20% year-on-year increase in residential pre-sales during the second quarter of FY27, with the ₹7,225 crore figure reflecting housing demand and uptake across newly launched properties — a result that lifted the company's shares.
Across the quarter, 3,910 units were sold, with the developer's transaction volume reaching 5.84 million square feet in total floor area. Per the exchange filing, the company's average per-square-foot pricing stood at ₹12,375 across completed transactions.
The half-year figure totalled ₹10,096 crore across the opening two periods of FY27, built on quarterly inflows of ₹5,294 crore, underpinned by buyer uptake and delivery across the project portfolio.
Three residential developments launched by Prestige Estates during the July-to-September period together span 5.91 million square feet of buildable area, carrying a combined gross development value of approximately ₹4,020 crore. During the opening six months of FY27, new housing project launches covered a combined floor area of 23.14 million square feet, carrying an aggregate gross development value exceeding ₹16,200 crore.
Prestige Estates shares climbed by as much as 3.32%, touching ₹1,447 per share at 2:34 pm, though the stock had shed 1.7% over the prior month and remained 8.2% below its level at the start of the year.
Nine ventures spanning residential, commercial, retail, and hospitality uses were either newly launched or had groundbreaking activity initiated by Prestige Estates during the quarter, with exchange filings placing the combined developable footprint of those projects at 10.09 million square feet. Across the opening six months of FY27, the combined footprint of launched and under-construction projects reached 30.25 million square feet.
Across all five of its operating divisions — residential, commercial, retail, hospitality, and property management — the developer reported steady performance through the opening half of the financial year.
Chairman and managing director Irfan Razack noted that Prestige Group's residential arm drew buyer interest across both newly launched projects and ongoing inventory, pointing to the momentum as evidence of sustained demand. Razack noted that projects lined up for launch across Bengaluru, Mumbai, the National Capital Region, Chennai, and Hyderabad — spanning the next two quarters — carry a combined estimated value exceeding ₹40,000 crore. Uptake for newly unveiled products, among them offerings rolled out in the final weeks of the September quarter, had been positive, he noted.
Prestige Estates also disclosed that CPP Investments committed ₹3,000 crore to Prestige Hospitality Ventures Ltd, with that capital outlay securing the investor a roughly 27% ownership share in the venture. Funds from the deal are directed toward expansion across the hospitality arm, covering both the rollout of its planned property portfolio and the pursuit of additional growth avenues. According to Razack, the alliance would position the firm to advance its hospitality development pipeline while broadening its footprint across the sector.
