New Delhi, Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sales bookings to Rs 3,029.5 crore in the first quarter of this fiscal due to lower volumes due to delays in the launch of new projects.
Its sales booking in the same period a year ago was Rs 3,914.7 crore.
In a regulatory filing, Prestige Estates said the company sold 2.86 million sq ft in April-June, compared to 3.83 million sq ft in the same period last year.
Total units sold during Q1 2024-25 stood at 1,364.
The average realization for apartments, villas and commercial spaces was Rs 11,934 per sq ft, up 16 per cent year-on-year (y-o-y).
The average price of plots stood at Rs 7,285 per square foot, up 46 percent year-on-year.
"We are happy with our performance in Q1 FY25, which reflects our strong market presence. Despite delays in approvals and project launches during the election period, we have still crossed a commendable sales figure of Rs 3,000 crore," said Irfan Razak, Chairman and Managing Director of Prestige Estate Projects.
He said the company has maintained a good mix of sales from its top geographies - Bengaluru (43 per cent), Hyderabad (32 per cent) and Mumbai (23 per cent).
“In the coming quarters, we look forward to launching an extensive pipeline of projects across different geographies,” Razak said.
He said that these projects will further strengthen its market position.
Prestige Group, one of the country's leading real estate developers, builds residential, office, retail, hospitality and warehouse projects.
Prestige Group has completed 300 projects spread over 190 million square feet of developable area.
Its sales booking in the same period a year ago was Rs 3,914.7 crore.
In a regulatory filing, Prestige Estates said the company sold 2.86 million sq ft in April-June, compared to 3.83 million sq ft in the same period last year.
Total units sold during Q1 2024-25 stood at 1,364.
The average realization for apartments, villas and commercial spaces was Rs 11,934 per sq ft, up 16 per cent year-on-year (y-o-y).
The average price of plots stood at Rs 7,285 per square foot, up 46 percent year-on-year.
"We are happy with our performance in Q1 FY25, which reflects our strong market presence. Despite delays in approvals and project launches during the election period, we have still crossed a commendable sales figure of Rs 3,000 crore," said Irfan Razak, Chairman and Managing Director of Prestige Estate Projects.
He said the company has maintained a good mix of sales from its top geographies - Bengaluru (43 per cent), Hyderabad (32 per cent) and Mumbai (23 per cent).
“In the coming quarters, we look forward to launching an extensive pipeline of projects across different geographies,” Razak said.
He said that these projects will further strengthen its market position.
Prestige Group, one of the country's leading real estate developers, builds residential, office, retail, hospitality and warehouse projects.
Prestige Group has completed 300 projects spread over 190 million square feet of developable area.
