India Business Journal - Prestige Estates lines up Rs 30,000-crore housing projects, awaits RERA’s nod

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Prestige Estates lines up Rs 30,000-crore housing projects, awaits RERA’s nod

IBJ Bureau
Feb 10, 2025

Real estate company Prestige Estates Projects is planning to launch Rs 30,000-crore of housing projects this quarter across major cities to tap robust consumer demand.

According to a transcript of the company’s discussion with market analysts, Bengaluru-based Prestige Estates Executive Director Zayd Noaman said the company would launch “a total of Rs 30,000 crore worth of inventory” in this quarter.

“We are saying this with utmost confidence as most of these projects have been logged in for RERA and should be launched in the next few weeks,” he added.

Mr Noaman said that the company would be launching projects mainly in Bengaluru, Delhi-NCR, Chennai and Mumbai.

Asked whether the company would be able to meet sales guidance of Rs 24,000 crore for this entire financial year, Prestige Group Chairman and Managing Director Irfan Razack said that it was possible, provided the company got regulatory approvals to launch projects.

Prestige Estates’ sales bookings have declined by 38 per cent to Rs 10,065.7 crore during the April-December period of this financial year, as it launched lesser number of housing projects due to delay in regulatory approvals.

“The inventory is available. It is possible because whenever we do a launch, we sell about 30 to 35 per cent or 40 per cent of the inventory.

“So, I have got Rs 30,000 crore worth of inventory that can come into the market and 40 per cent of that is Rs 12,000 crore, and plus, I have got existing inventory. So, it is not impossible. Now, it all depends on how soon the RERA numbers come,” Mr Razack added.