CHENNAI: South India’s leading real estate developer Prestige Group is expecting to grow at 20% in the current financial year as the Bengaluru-based company aims at achieving the launch pipeline of Rs 60,000 crore gross development value (GDV) by March 2027.
The company reported Rs 30,000 sale in FY26 in residential segment.
Praveer Shrivastava, head of residential sales at Prestige group, said, “In the current financial year, we are launching Rs 50,000-60,000 crore worth of homes. In the first quarter of FY27, we launched Rs 10,000 residential units. In the third and fourth quarter, we are planning to launch Rs 40,000 crore of inventories.”
He said that the company is focusing only in tier-1 cities as it believes there are a lot of untapped opportunities in these major cities. Shrivastava added that the company will also be expanding in Mysuru, Pune and Goa.
“We are already there in Ghaziabad of Delhi-NCR region. We will expand this financial year in Noida and Gurugram. Though it depends on opportunity, and the expansion in Tier-2 cities is our cards, however, several untapped opportunities in tier-1 cities.”
The Prestige Group executive also said the realtor has seen the input cost rising 2-3% due to the West Asia crisis.
“The input cost has gone up by 2-3% on all raw materials excluding the usual inflation due to the West Asia crisis. We expect it to remain at same level for the financial year.”
He further added that despite this price rise, the demand in the residential remains robust and some of its projects in Chennai, Mumbai, Hyderabad and Bengaluru have seen record sale.
“Bengaluru, Hyderabad and Chennai will drive next phase of growth in the residential segment. We will going be little slow in Delhi-NCR region as in the region there is no dearth of inventory. Between the ticket size of Rs 6 crore to Rs 12 crore, the unsold units stood at over 1,000.” He further said that mid-income projects in Bengaluru, Chennai and Hyderabad are seeing huge demand for the realtor.