Prestige Estates Projects announced on Wednesday that it launched 14 million sq ft of residential properties across its key markets in Q4 FY25, with a gross development value (GDV) of Rs 16,133.8 crore.
This is a sharp increase from the 0.83 million sq ft launched in Q4 FY24. During FY24, the company launched a total of 31.67 million sq ft of residential space.
The new launches in Q4 FY25 span Bengaluru, Mumbai, and Hyderabad, covering a total developable area of 14.03 million sq ft and comprising 4,548 units, the company said.
Although the larger project launches took place towards the latter half of the quarter, we were still able to achieve impressive sales numbers before the quarter ended. This enabled us to make a meaningful contribution to the quarter’s overall performance, the company said in a release.
Further, the company said that its new project in Mumbai recorded sales of Rs 2,385.7 crore within a month, while launches in Bengaluru and Hyderabad achieved Rs 1,382.1 crore and Rs 1,110.1 crore in sales respectively, in the final days of the quarter.
Godrej Properties and Macrotech Developers, who released their operational updates, did not release their launch numbers.
Irfan Razack, chairman and managing director, Prestige Estates, said: “For our Q4 launches, we have received an encouraging response from our customers across geographies. Although this year posed certain challenges on the approvals front, we made every effort to navigate them responsibly and bring these diverse offerings to market.”
Prestige Estates Projects offers properties catering to a wide spectrum of homebuyers, ranging from mid-segment and aspirational to premium and luxury residences. The company said it is looking to build on this momentum with a pipeline of launches planned across Bengaluru, NCR, Chennai, and Mumbai in the coming months.