Prestige Group Records Remarkable Growth in Q3 FY24: Sales Surge by 111%

1. Introduction

2. Sales Performance in Q3 FY24

3. Collections and Developments

4. Performance in First Nine Months of FY24

5. Project Launches and Expansion

Introduction

Prestige Group is real estate development company. It was founded in 1986 by Razack Sattar. Prestige Group, a real estate developer group of Bengaluru has generated sales of Rs 5326.1 crore in Q3 FY24. It shows a hike of 111% YoY. On January 9, the regulatory filing revealed to be have a developement of 5.46 million sqft. and the average price for apartments and villas was realized to be Rs 9,762  sqft. . The collections from homebuyers reached Rs 3116.3 crore.

Sales Performance in Q3 FY24

The performance of Prestige Group reaches sales of Rs Rs 16,333.4 crore, an 81% YoY increase. Prestige Group collected amount of Rs 8,478.8 crore, up by 20% YoY. In  this first nine months Prestige Group sold 8402 units and developed 16.13 million sqft with average price realization of Rs 10,143 per sq ft for apartments and villas.

 Project Launches and Expansion By Prestige Group

Prestige Group total launches  30.82 million sq ft.in first nine months with breakdown of three projects. The three project launched in Q3 FY24: The Prestige City Hyderabad, Prestige Ocean Towers in Mumbai, and Prestige Glenbrook in Bengaluru.

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