Prestige Estates reported ₹6,579.3 crore in sales bookings for the first quarter of FY27, a 46% decline compared to the same period last year. The drop is primarily due to a high base effect caused by a major project launch in the previous year. Despite this, the company maintains its annual booking target of ₹35,000–36,000 crore.
Prestige Estates Projects Ltd reported residential pre-sales of ₹6,579.3 crore for the June quarter of the 2027 fiscal year. This figure marks a 46% decrease from the ₹12,126.4 crore reported in the same quarter of the previous year. The company clarified that this decline is largely a result of a high base effect, as the year-ago period was boosted by the launch of a significant project in the Delhi-NCR market.
Sales Performance and Geographic Mix
During the April-June period, the company sold 6.04 million square feet across 3,337 units. The sales data highlights a shift in geographic focus, with Hyderabad emerging as the primary contributor, accounting for 49% of total quarterly sales. Bengaluru, historically the company's stronghold, contributed 27%, followed by Mumbai at 12%. The Delhi-NCR region, which had a major impact on last year’s figures, accounted for 7% of the total sales this quarter, with other markets making up the remaining 5%.
In terms of pricing, the average realization for apartment units reached ₹11,193 per square foot, while plotted developments were sold at an average of ₹8,043 per square foot. Additionally, the company completed three projects during the quarter, covering a developable area of 4.37 million square feet.
Outlook and Future Targets
Despite the quarterly dip, management remains focused on an annual sales booking target of ₹35,000–36,000 crore for FY27. This follows a strong performance in the previous fiscal year, where the company recorded total sales bookings of ₹30,024 crore. Chairman and Managing Director Irfan Razack noted that the Prestige Golden Grove project in Hyderabad saw a positive market response.
For investors, the key monitorable will be the company’s ability to ramp up launches in the coming quarters. The firm has planned marquee launches across major markets, including Bengaluru, Mumbai, Chennai, and the Delhi-NCR region, to coincide with the upcoming festive season. The success of these launches and the pace of project execution will be critical in determining whether the company meets its ambitious annual guidance. Investors should also monitor the company's debt levels and cash flow, as maintaining such high booking targets often requires significant capital spending on land acquisition and construction activities.