Prestige Group Q1 FY27 Operations: Pre-Sales Hit ₹6,579 Crore Driven by Massive Hyderabad Launch; Annuity Verticals Surge

Prestige Estates Projects Limited (NSE: PRESTIGE; BSE: 533274), one of India's largest and most diversified real estate developers, today announced its operational updates for the first quarter of fiscal year 2027 (Q1 FY27) ended June 30, 2026.

The group commenced the new fiscal year on a strong note, posting robust residential pre-sales volumes alongside steady growth momentum across its commercial, retail, hospitality, and property management verticals.

Residential Business Performance

The residential vertical continued to be the primary growth engine, supported by a healthy mix of high-volume launches and consistent velocity across tier-1 cities:

Pre-Sales Value: Registered contractual pre-sales of ₹65,793 million (₹6,579.3 crore) during the opening quarter.

Sales Volume & Units: Locked in an aggregate booking volume of 6.04 million square feet (mn sqft), representing 3,337 unique units sold.

Realization Trends: Average sales realizations for apartments stood at ₹11,193 per sqft, while plotted developments averaged ₹8,043 per sqft. The realization metrics directly reflect the quarter's geographic sales mix, influenced heavily by the launching pricing tiers in Hyderabad.

Collections: Cash collection channels remained highly resilient at ₹48,022 million (₹4,802.2 crore), underpinning excellent construction progression and milestone-linked billing execution across active project sites.

Geographical Mix: Hyderabad Takes Center Stage

Driven by the stellar market debut of the Prestige Golden Grove township, Hyderabad overtook Bengaluru as the company's leading revenue contributor during the quarter, anchoring nearly half of all fresh transaction volumes:

Geographical Contribution to Residential Sales Value

├── Hyderabad: 49%
├── Bengaluru: 27%
├── Mumbai: 12%
├── National Capital Region (NCR): 7%
└── Other Markets: 5%

Project Execution Grid: Launches & Completions

Prestige scaled up its addressable market pipeline during the quarter by launching four major projects totaling 20.16 mn sqft of developable space, while delivering three projects with an aggregate developable footprint of 4.37 mn sqft:

Project Launches

Prestige Golden Grove (Hyderabad): A massive residential community adding 14.30 mn sqft of supply. The project acted as the core Gross Development Value (GDV) driver for the quarter's pipeline, which aggregated to roughly ₹1,20,000 million for the residential entries.

Prestige Forest Hills @ TPC Ph 2 (Mumbai - Mulund): An upscale high-rise residential addition spanning 2.45 mn sqft.

Prestige Century Landmark (Bengaluru): A major premium commercial development accounting for 2.93 mn sqft.

Prestige Gardenia Estates Ph II (Bengaluru): A plotted residential expansion covering 0.48 mn sqft.

Project Completions

Prestige Tech Forest (Bengaluru): A major grade-A commercial campus totaling 3.64 mn sqft.

Prestige Sanctuary (Bengaluru): A premium niche residential enclave adding 0.43 mn sqft.

Prestige Cityscape (Kochi): A high-density residential community completing 0.30 mn sqft.

Annuity & Commercial Leasing Assets

The group's recurring commercial income framework expanded steadily, showing high operational leasing and occupier renewal rates:

Commercial Office: Logged gross leasing volumes of 1.5 million sqft during the three-month period. As of June 30, 2026, the Exit Rentals for the commercial office portfolio reached an annualized run-rate of ₹7,560 million.

Retail Malls: The retail division sustained exceptional consumption momentum, with Gross Turnover (GTO) across its operational malls climbing to ₹7,370 million, translating to a strong 18% year-on-year growth. Total footfalls reached 5.2 million for the quarter, supporting retail tenant confidence. Retail Exit Rentals reached an annualized run-rate of ₹2,776 million.

Hospitality: Driven by resurgent corporate travel bookings and leisure demand, the hospitality vertical delivered optimal Average Room Rates (ARRs) alongside high occupancy factors.

Management Commentary:

Mr. Irfan Razack, Chairman and Managing Director of the Prestige Group, stated:"We are pleased with the strong start to FY27, led by the excellent response to Prestige Golden Grove in Hyderabad. Looking ahead, we have an exciting lineup of marquee launches across Mumbai, NCR, Bengaluru, and Chennai during the festive season, which we believe will further strengthen our growth momentum. Supported by healthy collections and resilient performance across our annuity businesses, we remain confident of delivering a stellar performance for the year."

Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1641.45 as compared to the previous close of Rs. 1685.90. The total number of shares traded during the day was 347082 in over 3858 trades.

The stock hit an intraday high of Rs. 1692.05 and intraday low of 1631.80. The net turnover during the day was Rs. 573863925.00.

Source : Equity Bulls

Keywords

PrestigeEstatesProjects INE811K01011 Realty OperationalUpdate Q1FY27