Prestige Group Sets Record With Fy24 Sales Topping ₹21,040 Crore

According to Irfan Razack, chairman and managing director of Prestige Group the company has completed 150 projects of 127 million sq ft and 37 projects of 65 million sq ft. It has 30 projects in the pipeline.

The chairman was happy to announce their strong achievements in FY24. It was their record-breaking sales of ₹21,040 crore. It also has the highest-ever annual collections of ₹11,954 crore. He also mentioned that the high sales and profits reflect the trust of their customers and the dedication of the team.

It has a hefty pipeline of project launches in major cities like Mumbai, Bangalore Chennai, and NCR. It aims to cover nearly 30 million square feet with a total construction value worth ₹28,000 crore.

This Bangalore-based builder has clocked ₹21,040 crore worth of home sales in 2023-24. There has been a boom in the Housing industry, marking a 63% increase in FY24 sales year-on-year, rising from ₹12,931 crore in FY23. This striking sale marks a new height for Prestige Group and also for the real estate industry.

In Razack's point of view, the right investment and successful partnerships have contributed a lot to the company's financial success. It has also strengthened its position as a leading real estate builder in the nation.

As per the reports, Prestige Group has its highest-ever annual area sold in FY24, 20.25 million sq ft, which is a 34% increase. The reason behind the gush is its several new launch projects. The company's total development area is extending by 52% from FY23 to 40.19 million.

Prestige revealed that they had secured a funding agreement with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF to collect ₹2,001 crore for constructing four residential projects valued at ₹18,000 crore. The investment will be utilized for the development of properties in Delhi, Mumbai, Bengaluru, and Goa.

RainTree Park is the new launch by Prestige Group at Whitefield, East Bangalore. It is going to be a grandeur residential hub that includes a tech park and a mall. The entire township spans around 100+ Acres of land.

It offers 1500 units of living spaces in 3, 3.5, 4, and 5 bhk layouts. Phase 1 covers 28 acres and includes ten towers, each with 2B + G + 19 floors. Its possession is scheduled for August 2028. The price of these flats starts from ₹ 2.9 Cr* onwards.

Prestige Group prelaunch apartment is Prestige Raintree Park.