NEW DELHI: After Godrej Properties and Mactrotech Developer (Lodha), Bengaluru–based Prestige Estate has now reported record sales booking numbers for the financial year 2023. Prestige on Wednesday said its sales bookings rose by 25% year-on-year to a record Rs 12,931 crore in FY23 on strong housing demand. This is marginally higher than Mumbai-based developers- Godrej Properties and Lodha. While Godrej last week said its sales booking rose 56% last fiscal to an all-time high of `12,232 crore, Lodha sales bookings rose 34% to a record Rs 12,064 crore.
The other big player, DLF, is yet to announce its FY23 numbers. However, it is expected that the New Delhi-based realtor sales bookings may hit the Rs 15,000 crore mark. Meanwhile, Gurgaon-based privately held realty firm M3M India earlier this week reported that its sales bookings jumped more than two-fold to record Rs 13,000 crore in FY23.
During the fiscal year FY23, Prestige Group sold 9600+ homes in FY23. Going forward, Prestige is eyeing to double its sales in the next three years. “We are well-positioned to continue our upward trajectory, and we have set ambitious objectives for the next three years. Our aim is to double our sales during this time, and we are confident that we have the right team and strategy in place to achieve this goal,” said Irfan Razack, Chairman and Managing Director, Prestige Group.
Prestige is also aiming to grow aggressively in Mumbai, the country’s hottest real estate market. Venkat K Narayana, Chief Executive Officer, Prestige Group said that their Mumbai sales have contributed approximately Rs 2,700 crore to the total sales this year, already contributing 21% to total sales.
“Our Mumbai portfolio now comprises eight projects, including ongoing and upcoming projects, with a total sales potential of Rs 75,000 crore (Total GDV),” said Narayana.