Prestige Estates Unveils a Rs 30,000 Crore Investment Plan: A Game-Changer in Indian Real Estate

Prestige Estates Unveils a Rs 30,000 Crore Investment Plan: A Game-Changer in Indian Real Estate

In a bold stride towards redefining urban living, Prestige Estates Projects Limited has unveiled an ambitious Rs 30,000 crore investment plan, set to transform major Indian cities. This significant move not only highlights the company’s confidence in the market but also signals a strong comeback despite facing regulatory hurdles in the past.

Expanding Horizons: Cities Set to Witness the Transformation

The real estate giant is gearing up to launch premium residential projects in the January–March 2025 quarter, targeting key metropolitan hubs. Bengaluru, Delhi-NCR, Chennai, and Mumbai are at the forefront of this expansion, promising cutting-edge infrastructure and contemporary housing solutions.

According to Zaid Noman, Executive Director at Prestige Estates, most of these projects have already been submitted for RERA (Real Estate Regulatory Authority) approvals, with official rollouts expected in the coming weeks.

“We have ensured compliance with all regulatory frameworks and are ready to meet the growing demand in these high-potential urban markets,” stated Noman.

The Road to a Rs 24,000 Crore Sales Target

A report by IndiaTV highlights the company’s ambitious Rs 24,000 crore sales target for the fiscal year.

Irfan Razack, Chairman and Managing Director of Prestige Group, expressed optimism regarding this goal, stating:

“This is achievable, provided the necessary regulatory approvals are granted for project launches.”

The company’s ability to adapt to regulatory requirements while maintaining a customer-centric approach underscores its commitment to delivering world-class residential spaces.

Performance Metrics: Navigating Challenges in FY 2024-25

Despite its robust strategy, Prestige Estates faced a 38% decline in sales bookings during April–December 2024, registering Rs 10,065.7 crore compared to the previous year’s performance.

Key Performance Indicators (April–December 2024):

• Units Sold: 3,618
• Sales Value: Rs 10,065.7 crore
• Customer Collections: Rs 8,910.9 crore
• Total Area Sold: 8.09 million sq. ft.
• Average Sale Price: Rs 13,128 per sq. ft.

The decline is largely attributed to regulatory delays, limiting the number of housing projects launched within the timeframe.

Prestige’s Expansion Strategy: What Lies Ahead?

With approvals expected soon, Prestige Estates is gearing up for a dynamic expansion that aligns with India’s increasing demand for premium housing. By focusing on high-growth urban centers, the company aims to reinforce its market leadership and push forward its ambitious sales targets.

This Rs 30,000 crore investment is more than just a business move—it’s a commitment to urban development, a response to rising housing demands, and a strategic step towards sustainable growth in India’s real estate sector.