Prestige looks to double residential launches

In FY26, the real estate developer Prestige Estates Projects hopes to treble the number of residential launches it makes.

During FY25, the business initiated projects totaling 26.28 million square feet, mostly in Hyderabad, Mumbai, and Bengaluru, with a combined gross development value of Rs 26,222.8 crore. In Q4 of FY25, Prestige introduced 14 million square feet of residential real estate with a gross development value (GDV) of Rs 16,133.8 crore in its main markets.

The company is starting FY26 with the launch of a project in Indirapuram in Delhi-NCR soon. Besides, it has a few plotted development launches coming up in Bengaluru. Also, there are some large apartment townships planned for launch this year across Mumbai, Hyderabad, Bengaluru and Chennai, said Irfan Razack, chairman and managing director of the company. It is also planning a project in Goa in the first half of FY26, Razack said. Its recent launches in Bengaluru, Hyderabad and Mumbai recorded over Rs 5,000 crore in sales bookings within a month, Razack said.

Other top developers have also planned a series of launches. Macrotech Developers acquired 10 land parcels in FY25 to develop housing projects with a total sales value of nearly Rs 24,000 crore.

Though many are buying luxury apartments, Razack said, the bulk of the customers are in the lower and middle segments, which have seen a demand-supply mismatch. The company is looking to offer more products in the mid-segment residential space and suitable apartment sizes will be planned across some of its new developments, he said . “We continuously review the demand scenario to fine-tune our product offerings to offer the right apartment sizes with the right ticket price in our new launches,” he said.

According to Axis Securities’ Q4 results preview, Prestige Estates’ expansion for FY25 was hampered by approval issues. A number of significant debuts, such as Chennai’s Pallava Gardens and Indirapuram Prestige City, were postponed. The business stated that the timely introduction of these postponed products, which have a GDV of Rs 17,000 crore, could have fulfilled its pre-sales guidance.

It stated that the company may end the year with pre-sales of Rs 14,000 crore, falling well short of its Rs 26,000 crore forecast, despite successfully launching Suncrest, Nautilus, Southern Star, and Spring Heights. It stated, “However, we anticipate that Indirapuram will be introduced in Q1FY26, which will draw strong sales for the following year.”