Prestige Estates Projects Ltd, a top player in the Indian real estate scene, is gearing up for a massive expansion. The company is set to launch projects worth a whopping ₹52,000 crore by March 2024, spreading across Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR. These developments will cover a staggering 53 million square feet and are expected to rake in ₹52,114 crore in sales bookings.

Despite a slow start to the year, Chairman Irfan Razack remains upbeat about achieving—and even exceeding—their ambitious sales target of ₹24,000 crore for this financial year. “Yes, our first-half sales were lower than last year, but we’re very confident about what’s ahead,” Razack said. “The market is strong, and the demand for mid-income housing in prime locations is incredible.”

A Tale of Two Halves

From April to September this year, Prestige Estates recorded ₹7,052.2 crore in sales bookings, a dip compared to ₹11,007.3 crore in the same period last year. The second quarter saw ₹4,022.6 crore in sales, down from ₹7,092.6 crore in 2022. However, the company is banking on its upcoming launches to flip the script.

Executive Director Zayd Noaman highlighted the scale of their efforts: ₹10,000 crore worth of projects have already been launched this fiscal, with ₹8,600 crore from the second quarter alone.

Gearing Up for a Big Push

Behind the scenes, Prestige Estates is moving at top speed to secure the necessary approvals and RERA registrations to ensure smooth project launches. “Timing is everything,” Razack emphasized. “We’re making sure we’re ready to roll out these projects in the coming months.”

The Road Ahead

With a clear focus on mid-income housing and a strong lineup of projects, Prestige Estates is positioning itself to tap into a robust demand for well-located properties. “The demand is there,” Razack said. “As long as we deliver the right product in the right location, we’re confident about meeting it head-on.”

As the countdown to their massive project rollout begins, all eyes are on Prestige Estates to see if they can turn their bold plans into a game-changing success in the Indian real estate market.