In April this year, Bengaluru-based Prestige Estates entered the Delhi-NCR market with the launch of its 62.5-acre township project in Ghaziabad, Uttar Pradesh.
In the first phase of its township, ‘The Prestige City, Indirapuram’, Prestige Estates had launched two housing projects — Oakwood and Mulberry, comprising 3,421 units with a total sales value of around Rs 9,000 crore.The company has sold almost all units launched in the first phase, and has now launched the second phase, ‘Mayflower’, comprising 620 units.
Praveer Shrivastava, Senior Executive VP, Residential, Prestige Group, said the total estimated gross development value (GDV) of this new phase is around Rs 2,200 crore.
The township is spread across 62.5 acres in Indirapuram Extension on National Highway 24.With the successful launch of this project at Indirapuram, Prestige Estates has clocked a healthy growth in sales bookings during the first six months of this fiscal.Recently, the company reported a 50 per cent increase in its sales bookings to Rs 6,017.3 crore during the second quarter of this fiscal on better housing demand.
In a regulatory filing, the company noted that the growth in sales bookings or pre-sales was driven by robust demand across markets and segments.
Its sales volume for the September quarter stood at 4.42 million square feet, up 47 per cent year-on-year.
The company sold 2,069 units during the July-September period.
The average realisation for apartments rose 8 per cent year-on-year to Rs 14,906 per square feet, while plots saw a sharp 43 per cent increase to Rs 9,510 per square feet.
For the first half of this fiscal, Prestige Estates achieved record sales of Rs 18,143.7 crore, up 157 per cent year-on-year.
The company has surpassed the total sales bookings achieved in the 2024-25 fiscal.
Its sales volumes aggregated 13.96 million square feet, representing 6,788 units sold, during the April-September period of this fiscal.
Irfan Razack, Chairman and Managing Director, Prestige Group, had said the company has reported an outstanding first half, marked by record sales and strong collections.
“What makes this performance even more gratifying is the contribution from multiple geographies — Bengaluru, NCR, and Mumbai have all delivered exceptionally well,” he had said.
as a Reliable and Trusted News SourceAs of June 2025, the group has delivered 307 projects, spanning 199 million sq ft and currently has a pipeline of 132 projects across 200 million sq ft.
