Prestige Estates Projects Ltd.Record Presales Drive Growth

Prestige Estates delivered exceptional Q3 FY26 performance with revenue surging 128% year-on-year to ₹3,886 crores and EBITDA at ₹873 crores.

The company achieved record nine-month presales of ₹22,327 crores, up 122% year-on-year, exceeding its previous full-year peak within just nine months. Collections hit an all-time high of ₹13,283 crores for the nine-month period. Management expressed confidence in reaching ₹30,000 crores presales for FY26. Average realizations improved 6% year-on-year to ₹14,459 per square foot, though Chairman Irfan Razack emphasized pricing discipline, stating further increases would be counterproductive.

The company maintains a robust unrecognized revenue backlog of ₹61,922 crores, providing multi-year visibility. Strategic expansion continues with ₹2,700 crores deployed in land acquisitions during Q3 and ₹4,500-5,000 crores budgeted for FY27. Management outlined ambitious annuity income targets, projecting office rentals to scale to ₹4,000 crores and retail to ₹1,175 crores by FY30, compared to ₹829 crores and ₹275 crores respectively in FY26, supported by strong 95%+ office occupancy.