The first quarter of 2022 has been a record quarter for Prestige Estates registering sales of Rs. 4267.26 crore, which is a 111% increase in comparing YoY. The collections stand at Rs. 5005.4 crore which is more than 50% more than previous terms.
The chief executive officer Venkat K Narayana expressed a strong belief about the opportunity to expand their market share by capitalizing on their brand premium, execution track record, and the market consolidation theme. The belief is aptly supported by the numbers as the group has over 15million sq. ft in the pipeline for launch.
Prestige group is a well-established and trusty developer having completed more than 250 projects with a developable area of 144mnillion sq. ft. As per the business numbers, there are 47 ongoing projects across segments covering more than 58 million sq. ft of developable area. The future also looks green as the firm holds over 27 million sq. ft of land with strong development potential and has a further 79 million sq. ft under planning. Prestige Elm Park is an upcoming luxury apartment in Whitefield, Bangalore
The post-pandemic numbers were achieved primarily due to their recent projects like Prestige Avalon, Aspen, and Eden Park. The recently developed project Park of the Prestige City in Bengaluru and Prestige Beverly Hills in Hyderabad also received a good response. Irfan Razack, Chairman, Prestige Group also backed the group to achieve their ambitious growth plans through their projects. He also thanked the employees across the city for their relentless dedication in helping them to expand their footprints in high-growth opportunity markets. Prestige Elm Park is an upcoming luxury apartment in Whitefield, Bangalore