Real estate developer Prestige Estates Projects is looking to double its residential launches in FY26.
The company launched 26.28 million square feet of projects during FY25, mostly across Bengaluru, Mumbai and Hyderabad, with a combined gross development value of Rs 26,222.8 crore. Prestige launched 14 million sq ft of residential properties across its key markets in Q4 FY25, with a gross development value (GDV) of Rs 16,133.8 crore.
The company is starting FY26 with the launch of a project in Indirapuram in Delhi-NCR soon. Besides, it has a few plotted development launches coming up in Bengaluru. Also, there are some large apartment townships planned for launch this year across Mumbai, Hyderabad, Bengaluru and Chennai, said Irfan Razack, chairman and managing director of the company. It is also planning a project in Goa in the first half of FY26, Razack said. Its recent launches in Bengaluru, Hyderabad and Mumbai recorded over Rs 5,000 crore in sales bookings within a month, Razack said.
Other top developers have also planned a series of launches. Macrotech Developers acquired 10 land parcels in FY25 to develop housing projects with a total sales value of nearly Rs 24,000 crore.
Though many are buying luxury apartments, Razack said, the bulk of the customers are in the lower and middle segments, which have seen a demand-supply mismatch. The company is looking to offer more products in the mid-segment residential space and suitable apartment sizes will be planned across some of its new developments, he said . “We continuously review the demand scenario to fine-tune our product offerings to offer the right apartment sizes with the right ticket price in our new launches,” he said.
Axis Securities, in its Q4 earnings preview, said approval challenges hindered Prestige Estates’ growth for FY25. “Several key launches were delayed including Indirapuram Prestige City and Pallava Gardens in Chennai. The GDV for these delayed launches sums up to Rs 17,000 crore, the timely launch of which could have completed the company’s pre-sales guidance,” it said.
It said the company managed to launch Suncrest, Nautilus, Southern Star and Spring Heights and might end the year with pre-sales of Rs 14,000 crore, largely missing its Rs 26,000 crore guidance. “However, we expect Indirapuram to be launched in Q1FY26, which will attract good sales for the upcoming year,” it said.