Bengaluru-based realtor Prestige Estates registered record sales of Rs 12,930.9 crore last fiscal, up 25 percent over the previous year, with a development of 15.09 million square feet (msf), the company said in a regulatory filing.
"During the fiscal year FY23, the group registered the highest ever collections of Rs 9,805.5 crore (up by 31 percent year-on-year (YoY)," the company added.
The company sold more than 9,600 homes in FY23 and the new launches totalled 26.38 msf, up 57 percent annually. The total completions during the last fiscal year stood at 15.68 msf, a 10 percent rise on-year.
Mumbai contributed about Rs 2,700 crore to the total sales in the last fiscal, Venkat K Narayana, chief executive officer, Prestige Group, said.
For the last financial year, the average realisation for apartments/villas/commercial sales stood at Rs 8,812 per sq ft (up 17 percent YoY) and the average realisation stood at Rs 4,124 per square feet (down 2 percent YoY) for plot sales.
In the fourth quarter of the last fiscal, Prestige Estates registered sales of Rs 3,888.8 crore, an increase of 19 percent on an annualised basis, and the highest-ever quarterly collections of Rs 2,763.3 crore, up 12 percent from a year earlier.
During this period, the company sold about 4 msf area with an average realisation of Rs 9,761 per sq ft for apartments/villas/commercial sales and had an average realisation of Rs 4,508 per square foot for plot sales.
"The company has achieved significant growth in the past year with sales, collections, launches and completions far surpassing the previous year's level. The success in the past year has been driven by its commitment to delivering high-quality projects and exceptional service to clients," said Irfan Razack, chairman and managing director, Prestige Group.
"We have been dedicated to expanding our property portfolio while maintaining a healthy balance of launches and completions. We are well-positioned to continue our upward trajectory, and we have set ambitious objectives for the next three years," he added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
