NEW DELHI: Merchant Realty firm Prestige Estates overtook Macrotech Developers in terms of sales booking last fiscal. The Bengaluru-based Prestige reported a 90% increase in sales bookings to an all-time high of Rs 10,382.2 crore during the last financial year on better demand for its properties.
This was higher than that of Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand. Macrotech had reported 51% growth in its sales booking to a record Rs 9,024 crore during the last fiscal. The other two big players- Godrej Properties and DLF- are yet to report full-year sales numbers.
“We are pleased with Rs 10,000 cfr presales milestone in FY22. New sales have come from 15.07 mn sq.ft of sales volume with an average selling price of Rs 6,890 per sft and our collections were also all-time high at Rs 7,466 Crore.
We ended the year with the completion of 14.26 mnsft across geographies, said, Venkat K Narayana, Chief Executive Officer, Prestige Group.
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He added that Prestige has lined up a plethora of launches over 15 mnsft across Bengaluru, Mumbai, NCR, Hyderabad and Chennai which should help them to set a new benchmark during FY2023. Apart from Prestige and Macrotech, Sobha Ltd sales bookings rose by 23% to an all-time high of Rs 3,870 crore in FY22 and Sunteck Realty’s sales bookings jumped 27% to Rs 1,303 crore in the last fiscal.
Century Real Estate, another South India-based realty player, announced that it has achieved its highest ever sales and collections in FY22. Century currently has 3.1 mn. sq. ft. of the area under construction across nine locations and has an additional 2.1 mn. sq. ft. of residential projects nearing completion.