Prestige Estates Overshadows Listed Companies With Record Sales

Bangalore-based national real estate developer Prestige Estates has pipped top real estate players to emerge as star performers, recording all-time high sales bookings among listed real estate companies who have declared their results.

Prestige Estates tops the ladder, recording 90 growth in its booking, touching the Rs 10382 crore mark in FY22, against the sales bookings Of Rs 5460.8 crore in the 2020-21 financial year. The company also clocked its ever collections of Rs 7466.4 crore during the last financial year, up 47 percent from the previous year. Prestige has achieved this feat on the back Of a new sales volume Of 15.07 million sq ft at a selling Of Rs 6890 per sq ft and completion of 14.26 million sq ft space across Bangalore. Chennai &
Hyderabad. The new launches by the company in FY 22 in cities including Bangalore, Mumbai, Hyderabad, and Kochi, stood at 16.77 million sq ft.

Going forward, in FY 23, Prestige Estates has lined up plans to launch 15 million Sq ft Of real estate projects in Mumbai (Pali Hill and Mulund), Delhi NCR, and Chennai, besides its home ground of Bangalore.

Prestige has beaten Macrotech Developer Limited (operating under the Lodha brand) which clocked Rs 9024 crore Of sales in India in FY 22. In the January- March quarter of 2022, its sales Of Rs 3456 crore. lt also left behind Mumbai’s leading real estate company, Oberoi Realty, which according to UBS data, was a top Mumbai player in 2021 with Rs 4400 crore Of sales

UBS in its 2021 listing Of Of top 10 real estate leaders Of Mumbai. had listed Oberoi Realty, Lodha Group, Runwal Group, The Wadhwa Group, Kalpataru, Transcon Developers, K Raheja Corporation, L&T Realty Birla Estates Rustomjee Group, Pallonji,

Hiranandani Group, Indiabulls Real Estate, with sales figures Of

Rs crore, Rs 3600 crore, Rs 3400 crore. Rs 2600 crore, Rs 1600 crore, Rs 1500 crore, Rs 1300 crore, Rs 1200 crore, Rs 1100 crore and Rs 1000 Crore. Birla Estates, Rustomjee Group, and Shapoorji Pallonji were at Rs 1100 crore whereas Hiranandani Group and Indiabulls Real Estate were tied at Rs 1000 crore

Meanwhile, South India’s leading developer, Century Real Estate has clocked its highest-ever residential sales, and collections in FY 22, with its net sales growing at 22 percent yoy and 48 percent growth in the collection. This has been made possible due to the record pace of construction in new projects and Old projects nearing delivery. According to the, it sold 72 percent of the saleable inventory in FY 22, with its flagship project Century Ethos witnessing an 81 percent increase in sales and 255 percent uncreasæin a star has also seen its sales volumes from under construction projects in FY 22, increasing by 51 percent. It recorded a total sales volume of 3.52 million sq ft, with a total sales value Of Rs 2406 crore.