Prestige Estates Projects, a prominent player in the real estate sector, aims to significantly ramp up its residential launches over the next fiscal year, targeting a remarkable increase by FY26. With an impressive 26.28 million square feet of projects rolled out in FY25—primarily in cities like Bengaluru, Mumbai, and Hyderabad—the company has set a strong foundation for its ambitious growth plans, boasting a total gross development value (GDV) of Rs 26,222.8 crore.

Ambitious Plans for FY26

As Prestige Estates embarks on FY26, it is gearing up to unveil a new project in Indirapuram, located in the Delhi-NCR region. Additionally, there are exciting plans for several plotted developments in Bengaluru, along with expansive apartment townships slated for launch across major markets, including Mumbai, Hyderabad, Bengaluru, and Chennai. According to Irfan Razack, the company’s chairman and managing director, a project in Goa is also on the horizon for the first half of FY26. Recent launches in key cities have already generated over Rs 5,000 crore in sales bookings within just a month, highlighting the strong demand for Prestige’s offerings.

Competitive Landscape in Real Estate

Prestige Estates is not alone in its expansion efforts; other leading developers are also ramping up their activities. Macrotech Developers, for instance, made headlines by acquiring 10 land parcels in FY25, earmarked for housing projects with a staggering potential sales value of approximately Rs 24,000 crore.

Shifting Market Dynamics

While luxury apartments are undoubtedly popular, Razack notes that a significant portion of buyers are from the lower and middle-income segments. This demographic has experienced a notable mismatch between demand and supply. To address this, Prestige Estates aims to introduce more mid-segment residential options, strategically planning suitable apartment sizes in its upcoming projects. Razack emphasized, “We continuously assess the market demands to refine our product offerings, ensuring that we deliver the right apartment sizes at appropriate price points in our new launches.”

Overcoming Challenges

Despite its ambitious plans, Prestige Estates faced challenges in FY25 due to approval delays, which hindered its growth trajectory. According to Axis Securities in their Q4 earnings preview, several key projects, such as Indirapuram Prestige City and Pallava Gardens in Chennai, were postponed. The GDV for these delayed launches amounted to Rs 17,000 crore, which, if launched on time, could have significantly contributed to the company’s pre-sales targets.

Nevertheless, Prestige successfully launched projects like Suncrest, Nautilus, Southern Star, and Spring Heights. The company is projected to close FY25 with pre-sales around Rs 14,000 crore, falling short of its Rs 26,000 crore guidance. However, there is optimism regarding the upcoming launch in Indirapuram during Q1FY26, which is expected to drive robust sales in the new fiscal year.

In summary, as Prestige Estates Projects prepares for an ambitious FY26, it remains committed to meeting evolving market demands while overcoming previous hurdles. The company’s strategic focus on mid-segment residential developments positions it well for future growth in a competitive landscape.