Prestige Estates’ sales exceed DLF, Godrej and Macrotech in FY22

Last month, Prestige had said in FY23, the group plans to launch over 15 mn sq-ft of realty projects in Mulund and Pali Hill in Mumbai, Bengaluru, Delhi-NCR and Chennai, among others. 

Published: 20th May 2022 08:31 AM  |   Last Updated: 20th May 2022 08:31 AM   |  A+A-

DLF is the country's largest real estate firm in terms of market capitalization.

Image used for representative purpose only. (File photo | Reuters)

Express News Service

NEW DELHI: Bengaluru-based Prestige Estates has pipped DLF, Godrej Properties and Macrotech Developers (Lodha) when it comes to sales booking during financial year 2022. DLF, the country’s largest realtor in terms of m-cap, in its investor presentation said that its sales bookings jumped over two-fold to Rs 7,273 crore in FY22 from Rs 3,084 crore in FY21.

In contrast, Prestige Estates had reported a 90% year-on-year increase in its sales bookings to a record Rs 10,382 crore in FY22, which was more than what Macrotech had reported for last fiscal. The Mumbai-based realtor’s sales booking in FY22 grew by 51% year-on-year to Rs 9,024 crore. Godrej Properties’ sales bookings increased 17% to Rs 7,861 crore, out of which Rs 7,781 crore came from the residential properties.

Anuj Puri, Chairman of property consultant ANAROCK Group, said that one of the prime reasons why Prestige Estates has performed well is because of its presence in core market like Bengaluru which has performed quite well in the last quarter of the FY 2022 in terms of both housing sales and new launches.

“As per ANAROCK Research, Bengaluru saw housing sales of nearly 13,450 units in Q4FY22, recording yearly growth of over 55%. Meanwhile, new launches stood at 13,210 units in the same quarter, increasing by 72% on yearly basis,” said Puri. Last month, Prestige had said in FY23, the group plans to launch over 15 mn sq-ft of realty projects in Mulund and Pali Hill in Mumbai, Bengaluru, Delhi-NCR and Chennai, among others. 



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