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Realty firm Prestige Estates Projects Ltd announced that its consolidated net profit increased by 26% to INR 292.5 crore in the first quarter of this fiscal year. This robust performance was complemented by a four-fold jump in sales bookings, which reached an all-time high of INR 12,126.4 crore, primarily driven by exceptional demand for its residential project in Ghaziabad. The company's total income also saw a significant rise to INR 2,468.7 crore, highlighting a strong start to the new fiscal year and a successful strategic expansion into North India.
Prestige Estates Projects Ltd has reported a 26% increase in its consolidated net profit, which stood at INR 292.5 crore for the first quarter of this fiscal year. The company's total income also saw a notable rise to INR 2,468.7 crore during the April-June period, up from INR 2,024.5 crore in the corresponding quarter of the previous fiscal year. This financial performance was largely fueled by a record-breaking four-fold jump in sales bookings, signaling a very strong start to the new fiscal year. Advertisement
The company's sales bookings, or pre-sales, surged to an all-time high of INR 12,126.4 crore in the first quarter of fiscal year 2026, marking a 300% growth from the INR 3,029.5 crore reported a year ago. This exceptional performance was predominantly driven by the outstanding response to its maiden launch in North India, a housing project known as The Prestige City, Indirapuram in Ghaziabad. The company reported that approximately 80% of the project's inventory was sold out at its launch, a clear indication of strong customer confidence.
As of March 2025, the Prestige Group had already delivered 302 projects, spanning a total area of 193 million square feet. The company maintains a robust development pipeline of 130 projects, covering an expansive 203 million square feet. This strong financial and operational performance aligns with the company's ambitious strategy to achieve sales bookings of INR 27,000 crore for the current fiscal year, a 59% increase over the previous year. The success of its Ghaziabad project highlights the company's successful foray into the Profitable market like Delhi-NCR.
Source - PTI
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