Whalesbook
Strong Demand Defies Slowdown Worries
Prestige Group Chairman and Managing Director Irfan Razack remains unfazed by growing concerns over a potential Indian real estate market slowdown. He stated that the sector's sales pace remains robust. With four decades in the business, Razack noted the current pace is exceptionally strong.
Hyderabad Launch Hits ₹2,500 Crore Sales
Backing his optimistic stance, Razack pointed to the stellar performance of Prestige Golden Grove in Hyderabad. The project surpassed ₹2,500 crore in sales within just two weeks of its launch. The project drew over 4,000 visitors, selling about 1,700 of its 5,000-plus units. This large-scale development is being executed in a single phase and is slated for completion in about four years.
Consolidation Favors Established Developers
Razack noted significant consolidation in the real estate sector, distinguishing the current market cycle from previous ones. He observed that larger, established brands are increasingly capturing market share. This trend favors established developers with a track record for quality and scale.
Managing Rising Costs and Pricing
Razack acknowledged inflationary pressures and rising commodity costs as emerging challenges. He noted, "There will be shortages. There will be price increases," but cautioned against predicting the exact extent. He stressed developers must be "very, very careful" and "measured" with pricing, especially given long project timelines that prevent passing all cost increases directly to buyers.
Ambitious Growth Targets for Prestige Group
Despite macro and geopolitical uncertainties, Prestige Group maintains an optimistic outlook. Following a strong FY26 with around ₹30,000 crore in sales, the company is targeting at least 20% growth in FY27. Razack is optimistic about growth across cities, citing strong pipelines in Mumbai, the National Capital Region (NCR), Bengaluru, Hyderabad, and Chennai.
Prestige is also aggressively expanding its hospitality division, targeting over 5,000 rooms by FY30, up from its current 1,500, with new projects planned in major metropolitan areas.