Prestige Estates Achieves Record Sales of Over ₹2,500 Crore in Hyderabad Housing Market
Prestige Estates sells over 1,700 housing units in Hyderabad for more than Rs 2,500 crore
The Economic Times
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Prestige Estates Projects Ltd has sold more than 1,700 housing units in Hyderabad for over ₹2,500 crore (approximately $300 million USD) within two weeks of launching its Prestige Golden Grove project. This strong demand reflects a growing interest in the residential market in Hyderabad.
- 01Prestige Estates sold over 1,700 units in Hyderabad for more than ₹2,500 crore.
- 02The sales occurred within two weeks of launching the Prestige Golden Grove project.
- 03The project spans 29 acres and includes a total of 5,120 units.
- 04Prestige Estates expects total revenue of around ₹9,500 crore from this project.
- 05In the previous fiscal year, the company recorded sales of ₹30,024.5 crore, a 76% increase from the prior year.
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Prestige Estates Projects Ltd, based in Bengaluru, has reported impressive sales of over 1,700 housing units in Hyderabad, generating more than ₹2,500 crore (approximately $300 million USD) in just two weeks following the launch of its Prestige Golden Grove project. This residential development, covering 29 acres, is part of a larger project that includes a total of 5,120 units. The strong demand indicates a robust market response, and Prestige Estates anticipates total revenue of around ₹9,500 crore from this venture. The company has a solid track record, having delivered 313 projects covering 206 million sq ft, and currently has a pipeline of 128 projects totaling 195 million sq ft. In the last fiscal year, Prestige Estates achieved record sales bookings of ₹30,024.5 crore, marking a 76% increase from the previous year, with 11,692 units sold.
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The successful launch of the Prestige Golden Grove project may lead to increased housing availability and potentially influence property prices in Hyderabad's residential market.
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