Prestige Estates Reports Strong Sales of ₹2,500 Crore for New Project in Hyderabad
Prestige Estates rises after residential project in Hyderabad clocks Rs 2,500 crore in early sales
Business Standard
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Prestige Estates Projects saw a 3.08% increase in stock price to ₹1,415.70 following the successful launch of its residential project, Prestige Golden Grove, in Tellapur, Hyderabad. The project achieved over ₹2,500 crore in sales within two weeks, with more than 1,700 units sold, reflecting strong demand for quality residential developments.
- 01Prestige Golden Grove recorded over ₹2,500 crore in sales within two weeks of launch.
- 02The project attracted over 4,000 customer footfalls, one of the highest in Hyderabad.
- 03The development spans nearly 29 acres and includes approximately 5,120 units.
- 04Prestige Estates' consolidated net profit surged over twelve-fold to ₹222.6 crore in Q3 FY26.
- 05Revenue from operations increased by 134.06% year-on-year to ₹3,872.6 crore in Q3 FY26.
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Prestige Estates Projects experienced a 3.08% rise in its stock price, reaching ₹1,415.70, after announcing impressive early sales figures for its new residential project, Prestige Golden Grove, located in Tellapur, Hyderabad. The project, which is one of the largest single-phase developments in the city, attracted over 4,000 customer footfalls and achieved sales of more than 1,700 units within just two weeks, translating to a total sales value exceeding ₹2,500 crore. Spanning nearly 29 acres, Prestige Golden Grove comprises around 5,120 units across ten towers, with an estimated gross development value of approximately ₹9,500 crore. Zayd Noaman, executive director of Prestige Group, expressed satisfaction with the project's reception, highlighting the strong demand for well-located residential communities. Additionally, Prestige Estates reported a remarkable increase in its consolidated net profit, which surged over twelve-fold to ₹222.6 crore in Q3 FY26, compared to ₹17.7 crore in Q3 FY25. Revenue from operations also saw a significant rise of 134.06% year-on-year, totaling ₹3,872.6 crore in the same quarter.
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The successful launch of Prestige Golden Grove indicates a robust demand for residential properties in Hyderabad, potentially influencing housing prices and availability in the region.
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