Prestige Estates Reports Strong FY27 Start with Robust Residential Sales and Retail Growth

Prestige Estates Reports Strong FY27 Start with Robust Residential Sales and Retail Growth​

Prestige Estates Projects Limited (Prestige) has reported a strong start to the first quarter of fiscal year 2027, showcasing healthy performance across its diversified business verticals including residential, commercial, retail, hospitality, and property management. The company's operational results for the period ended June 30, 2026, reflect the strength of its multi-market presence and consistent delivery across various market cycles.

Residential Performance Highlights

The residential segment recorded pre-sales of ₹ 65,793 million during the first quarter of FY27. This includes a sales volume of 6.04 million square feet with a total of 3,337 units sold. The geographical distribution of these sales highlights a well-diversified presence, with Hyderabad serving as the largest contributor at 49 percent of total sales. Bengaluru accounted for 27 percent, Mumbai for 12 percent, and the NCR region contributed 7 percent, with other markets making up the remaining 5 percent.

The company achieved an average realization of ₹ 11,193 per square foot for apartments, while plotted developments saw an average realization of ₹ 8,043 per square foot. These figures primarily reflect the geographic mix of sales, particularly following the successful launch of Prestige Golden Grove in Hyderabad. Additionally, collections remained strong at ₹ 48,022 million, indicating significant customer demand and efficient project execution.

Project Launches and Completions

During the reporting period, Prestige launched four projects with a combined developable area of 20.16 million square feet, representing a gross development value (GDV) of approximately ₹ 1,20,000 mn for residential projects. The details of these launches are provided in the table below:


The company also completed three projects during the quarter, totaling a developable area of 4.37 million square feet:


Commercial and Retail Portfolios

The commercial office portfolio continues to see healthy demand, with gross leasing of 1.5 million square feet during the quarter. As of June 2026, exit rentals for the commercial portfolio were recorded at ₹ 7,560 mn.

In the retail sector, the company's malls maintained strong momentum with a gross turnover (GTO) reaching ₹ 7,370 million, which represents an 18 percent year-on-year growth. The properties recorded footfalls of 5.2 million during the quarter. As of June 2026, exit rentals for the retail portfolio stood at ₹ 2,776 mn.

Hospitality and Executive Commentary

The hospitality business reported a healthy operating performance, characterized by competitive average room rates (ARRs) and strong occupancy levels driven by demand in both business and leisure travel.

Irfan Razack, Chairman and Managing Director of Prestige Group, stated that the company is pleased with the strong start to FY27, specifically noting the positive response to the Prestige Golden Grove project in Hyderabad. He highlighted an upcoming lineup of marquee launches in Mumbai, NCR, Bengaluru, and Chennai during the festive season. Razack expressed confidence in delivering a stellar performance for the year, supported by healthy collections and resilient performance across annuity businesses.

PRESTIGE Stock Price Movement​

As of 11:39 AM, shares of Prestige Estates Projects Limited are slipping by 0.65% in live trading, currently at ₹1,675. The stock has seen a turnover of 537,820 shares as it fluctuates between an intraday high of ₹1,692.1 and a low of ₹1,663.2.