Stock Report

Prestige Estates Projects Limited announces Operational Update for Q4 and FY25

Posted On : 2025-04-17 08:57:20( TIMEZONE : IST )

Prestige Estates Projects Limited, one of India's leading real estate developers, has announced its operational performance for the fourth quarter and full financial year ended March 31, 2025.

Residential

Q4 FY25 Operational Highlights

- New sales came in at ₹69,574 million, marking a 48% year-on-year growth, driven by strong customer response to launches and premium offerings.

- Sales volume stood at 4.49 million square feet, a 9% increase YoY, reflecting healthy absorption.

- Total units sold during the quarter stood at 2,301.

- The average realization for apartments, villas, and commercial properties was ₹15,524 per square foot, representing a 25% YoY increase.

- For plotted developments, the average realization rose to ₹6,975 per square foot, a 27% increase from the same quarter last year.

- Collections for the quarter were ₹31,551 million, representing a 9% decline YoY.

- The Company launched 14.03 million square feet during the quarter, spanning four projects- Prestige Suncrest and Prestige Southern Star-Ph 1in Bengaluru, Prestige Nautilus in Mumbai and Prestige Spring Heights in Hyderabad, with a combined GDV potential of ₹ 161,338 million.

12 Months FY25 Operational Highlights

- Full-year new sales stood at ₹170,231 million, a 19% decline YoY, reflecting the impact of deferred launches amid approval delays.

- Sales volume for the year was 12.58 million square feet, down 38% YoY.

- Total units sold across FY25 stood at 5,919.

- The average realization for apartments, villas, and commercial products rose to ₹14,113 per square foot, an impressive 36% increase YoY.

- Plot sale realization increased to ₹7,167 per square foot, registering a 50% YoY growth.

- The contribution to sales came from a healthy mix of Bengaluru (45%), Mumbai (30%), Hyderabad (23%), and other markets (2%).

- Collections for the full year totalled ₹120,840 million, indicating a 1% growth over FY24.

- The Company launched 26.28 million square feet during the year, primarily across Bengaluru, Mumbai and Hyderabad with a combined Gross Development Value of ₹ 262,228 million.

- Project Completions stood at 3.04 million square feet for FY25 across two residential projects in Bengaluru, viz Prestige Primrose Hills Ph-1 and Prestige Waterford.

Other Business Segments - FY25 update

Office:

- Gross leasing for FY25 stood at 4.10 million square feet across the portfolio.

- Portfolio-wide Occupancy levels remained strong at over 90%.

Retail:

- Our malls recorded a Gross Turnover (GTO) of ₹22,640 million during FY25.

- Total footfalls across the retail portfolio stood at 18 million.

- Portfolio-wide occupancy remained high at 99%.

Commenting on the performance, Mr. Irfan Razack, Chairman and Managing Director, Prestige Group, said: "FY25 brought with it a mix of achievements and challenges. Despite delays in project approvals that deferred a few key launches into the next fiscal, the final quarter saw strong traction in sales and an encouraging uptick in realizations.

The appetite for quality real estate remains robust, as evidenced by the outstanding response to our recent launches. Our focus on customer-centric offerings and premium positioning has also translated into meaningful growth in per square foot realizations. FY26 is set to be a defining year for Prestige Group as we expand into newer markets-launching marquee projects in NCR and Mumbai and achieving our maiden residential completions in Mumbai.

With approvals progressing and the demand environment holding steady, we are optimistic about scaling new heights in the coming year and deepening our presence across key geographies."

Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1207.90 as compared to the previous close of Rs. 1199.20. The total number of shares traded during the day was 21441 in over 1956 trades.

The stock hit an intraday high of Rs. 1218.80 and intraday low of 1188.30. The net turnover during the day was Rs. 25731410.00.